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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Financial Literacy Basics, review
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
What is one of the four steps to saving?
Set up an emergency fund
Quit your job
Pay yourself last
Make a budget
2
What is the best way to interact with your financial advisor?
Delegate
Abdictate
Participate
3
What is a credit score?
How many points you've scored
How many purchases you have made
Your amount of debt
Your financial reputation
4
The rule of 72 helps you determine...
What percentage return you will make
How much debt you will have in 5 years
How long an investment will take to double
If it is a risky investment
5
What does "APR" stand for?
Asset Protection Reserve
Alex Pedda Rocks
Annual Percentage Rate
Always Pay Right-away
6
What is a "latte factor"?
Somebody's urge to spend money on designer things
The table used for making a budget
What you invest your money in
What you like in your coffee
7
What is one way to make your money grow on its own?
Investing
Working
Bankruptcy
Using credit
8
On the show shark tank, what are the sharks doing?
Judging businesses based on how much money they make
Helping business owners become better presenters
Buying ownership in a private business
Taking potential ideas to make their own
9
What is the best credit score you can get?
There is no limit
900
300
0
10
What is another way to think of credit/debt?
A promise to pay back
A trade for your money
A gift to keep
A reward for doing well
11
What is one way to reduce spending?
Get more credit cards
Shop at malls
Increase income
Create a budget
12
What is a possible certification a financial advisor could have?
ETF
WWW
APR
CFA
13
What is the #1 key to gaining wealth?
Working overtime
Getting a better job
Spending less than you make
Winning the lottery
14
Debt and Debit kinda mean the same thing...
False
True
15
A stock is an investment in...
A baseball team
A precious metal
A collection of houses
A portion of ownership in a company
