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Financial Literacy: Lawn Boy Flashcards | StudBud
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Financial Literacy: Lawn Boy
Financial Literacy: Lawn Boy
20 terms
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StudBud Administration
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Flashcards
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Questions
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Answers
1
Which of the following expenses should be included in a typical budget?
All the above
Charitable Giving
Savings
Taxes
2
Which of the following is the most effective strategy for reducing the cost of college?
Purchasing used books
Attending an in-state public university
Attending a private college
Living in an off-campus apartment
3
The more _____________ you receive, the more money you will likely earn in your career.
Scholarships and grants
Internships
Education and training
Benefits
4
What is the best strategy for avoiding credit card interest?
Pay the full balance each month
Skip payments
Pay the minimum balance
Make payments online
5
What is the first thing you should do when planning a career?
Have a mock interview with a family member or friend
Sign-up for an internship
Apply for as many jobs as possible
Make a list of your job preferences and skills
6
Before buying a new computer, you should do research to buy the best model. Where would you find the best information?
Independent consumer education website that reviews/rates tech products
Paid advertisements in a technology magazine
A salesperson at an electronics store who earns commission on sales
The most popular computer company's website
7
When deciding how to invest your money, which of the following is least important to know?
The expected rate of return on your investment
When you will need to use the money
How risky the investment is
Whether or not deposits can be made online
8
Income earned on an hourly basis is called
Wage
Stipend
Salary
Benefit
9
Select the best answer that best describes "opportunity cost"
What you gain as a result of choosing one option versus another; a benefit.
The amount of money you put into savings every year
What you give up as a result of choosing one option vs. another; trade-off
The amount of money a business makes every year from sales.
10
___________________ is withheld from paychecks to fundgov services: health care, national defense, and science programs
Medicare
Social Security
Federal Income Tax
State Income Tax
11
Which of the following would be considered a want for most people?
A brand-name jacket
A place to live
Nutritious food
Transportation to get to work
12
If you know the unit price of an item, you are better able to:
Figure out the discount during a sale
Determine the total cost of the purchase
Compare prices of two brands
Estimate how much you will need
13
Which of the following statements about buying and selling stock is TRUE?
It is illegal to buy stocks online.
Stock prices stay the same most of the time.
A stock exchange is a physical place where stocks are traded.
In order to sell a stock, you must have at least 1,000 shares
14
If a person has liability insurance, what would they be covered for?
Fixing damage to another car in an accident that was their fault
All of the above
Repairing damage to their car that was caused by storms or theft
Fixing damage to their own car in an accident that was their fault
15
Which factor has the biggest impact on a credit score?
Type of credit
Length of credit
Amount owed
Payment History
16
Which of the following statements is an example of a personal skill?
I like being outside.
I love learning new things.
I volunteer in my community.
I'm a really good cook.
17
What is a health insurance premium?
A fee you pay for medical services: a visit to the doctor's office or ER
The amount you pay the insurance company for coverage.
The amount you are required to pay before your insurance covers the cost.
The most you have to pay for health care in a full year.
18
What might be one reason why a stock becomes more valuable over time?
The company is well-managed
There is a lot of demand for the product
All of the above
The industry is growing
19
Ashley wants to use money from her checking account to make a purchase. Which payment method should she use?
Debit card
Credit card
Prepaid card
Direct deposit
20
Which career is least likely to be impacted by poor economic conditions?
Construction worker
High school principal
Real estate agent
Pilot
