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first ever Financial literacy quiz Flashcards | StudBud
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first ever Financial literacy quiz
WHat is bankrupcy
What is credit score
first ever Financial literacy quiz
25 terms
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Flashcards
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Answers
1
What is credit score
credit crd numer
A number that reflects the credit history shown in a borrower's credit
2
WHat is bankrupcy
A process to get out of debt when you can no longer make all your payments.
When the bank stops working
3
What are shareholders
A person that owns or holds a share or shares of stock in a company
People who share bank accounts
4
What are expenses
Things you pay money for, both needs and wants.
Expensive toys
5
WHat is a morgage
house inspection
When you slowly pay for your house.
6
Why buy health insurance
To go to the hospital for free
People buy health insurance to help them pay for medical expenses
7
What is a deposit at a bank or savings and loan that pays interest, but cannot be withdrawn in check writing.
Savings account
Bank
8
What is a Principle
A director of a school
This is the amount of money you borrow in a loan.
9
What is a withdraw
When you put money into your account
When you take your money out of your bank account.
10
Annual percentage rate (APR)
Mathematical expression
What credit costs you each year, expressed as a percentage of the loan.
11
What is interest
The amount paid for use of borrowed money.
Tax on houses
12
What todo with spare money
Invest
Buy stuff that will lose value
13
What is gross pay
WHen they pay you in coins
The entire amount of your income or paycheck before any deductions
14
What is an interest rate
How much people are interested in your project
The cost of borrowing money, expressed as a percentage,
15
What is a deposit
To put money into a bank or investment account.
When you take money out of a bank
16
What is debt
When you give away money
Money or goods you owe.
17
What is an investment
When you give your neighbor money
The use of savings to earn a financial return.
18
What is a budget
How much money you make a year
A budget is a written record of income and expenses during a time frame
19
What is an asset
Assets help you with financial litercy
Assets are everything you own that has any monetary value
20
What is credit rating
How much money is on your credit card.
A measure of a person's ability to make credit payments on time.
21
What is income tax
Money that wage earners pay the government to run the country.
Tax on food that you order
22
what is a loan
Money that is lent, with the understanding that the loan will be paid back,
Slang for lawn
23
What are bonds
Bonds are joint shares
Bonds are debt securities issued by corporations and governments.
24
What is a finance charge
When you pay your finance teacher
The total dollar amount a person pays to use credit.
25
What is a late fee
A coffe brand.
The fee that credit-card companies charge when you pay you bill.
