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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Flashcards
29 cards
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Questions
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Answers
1
What is pre-approved credit which can be used for the purchase of goods now and payment later?
debit card
car loan
credit card
2
Which of the following is not considered personal information?
Telephone #
Age
Gender
3
the maximum dollar amount that can be charged on a card?
credit limit
maximum limit
loan limit
stadler limit
4
What is another term for a spending plan?
needs form
wants list
budget
5
Which one does NOT belong?
Diverting Mail
Dumpster Diving
Detering
Skimming
6
Which of the following has the LEAST liability? Is the SAFEST investment.
Mutual Fund
Stocks & Bonds
7
Which one does not belong?
paying only minimum payment
paying bills on time
paying balances in full
keeping track of all charges
8
The point where supply and demand meet is called?
equilibrium price
shortage
surplus
9
What is the least amount of money you can pay on your credit card each month called?
minimum apr
minimum installment
minimum amount
minimum payment
10
Which of the following affects your credit report the most?
outstanding debt
length of credit history
payment history
types of credit in use
11
What should you NEVER place in your wallet or purse?
Social Security Card
Credit Card
Picture of Your MOM
Driver License
12
Why should one have a budget?
to make big purchases
to make medium purchase
to make small purchases
13
The amount of money borrowed by the consumer is called?
Fixed Cost
Principal
Interest
APR
14
Car insurance rates (premiums) are higher for teenage boys than girls, because?
Boys tend to have less accidents
Boys tend to have more accidents
Girls tend to one their cars
15
What is the interest on a credit card called?
CPR
APR
ART
NPR
16
Which one does not belong?
savings account
CD
checking account
17
Why would one use credit?
purchase big ticket items
purchase small ticket items
18
This occurs when someone wrongfully acquires your financial information?
identity theft
money theft
criminal theft
19
What is true about loans?
The lower the APR, the more interest is paid
The higher the APR, the more interest is paid
The APR does not effect the interest paid
20
Which type of insurance protects your dependents?
Health
Life
Disability
Homeowner's
21
Which is REQUIRED by all drivers in NC?
liability
transversal
disabilty
comprehensive
22
What usually happens if you make a late credit card payment?
APR increases
APR decreases
APR Remain Same
APR is unaffected
23
Should you be a co-signer for a loan?
yes
no
24
What is all the money you have coming in called?
outcome
income
scarcities
expenditures
25
What document tells lending institutions your credit worthiness?
credit report
paycheck
tax return (1040)
26
Adam Smith believed the market would fix itself how?
intervention by the invisible hand
lowering taxes
by government intervention
raising taxes
27
Which is NOT an example of fiscal policy?
interest rates
taxes
spending
28
Fixed cost + variable cost = ???
marginal cost
dividend
total cost
marginal revenue
29
Which of the following is a fixed cost?
car expenses
wages
mortgage
gas bill
