S25 Financial Literacy Review

If you want insurance to help pay for staying in a nursing home, you should get _____.

If you reach or are near the spending limit of your credit account, it could negatively affect your credit score.

You need to look for someone's whose job is a ____ to confirm signatures you make on contracts.

A ___ are good for people who don't have much cash, a low credit score, and might be first-time homebuyers.

Employers use a W-4 to figure out how much tax they need to deduct from your paycheck.

You commit a _____ when you do not do what you have agreed to in a contract.

A ____ card automatically removes money from the bank account.

True / False: Stocks can be extremely risky, but also may carry a high reward.

_____ are part of the mortgage loan and are used to help owners pay their property taxes.

You're more likely to receive a loan with a low interest rate if you have ____.

A dependant, like a child, is someone who relies on someone else financially.

____ are considered safe investments, but they're not insured by the FDIC.

___ insurance assists in covering medical expenses for short-term illnesses and accidents.

Besides the price of food & taxes, what else must you often add to the price of your dining experience when eating out?

___ is not considered an installment loan.

State and local governments establish ____.

Net pay is the amount of money one receives from their job before taxes / other deductions are taken out.

___ insurance assists those who depended on a wage earner before that wage earner died.

A(n) ____ is a natural good--like gold, oil, or wheat--that can be traded as an investment. Risky Investments!

(A) ____ must be used when someone can't put down a large down payment for a house.

True / False: Safe deposit boxes are used to protect your stocks.

T / F: Rent-to-Own loans can hurt consumers because of low interest rates.

Before agreeing to a contract, you must first receive the offer, accept the offer, and exchange considerations.

30 years is the average amount of time a borrower with a ____ loan will pay off their debt.

Your net pay is the amount of money from your paycheck you keep after taxes and deductions are taken out.

Interest earned on interest gained is compound interest.

A ____ handles money and keeps it safe for you to spend or save.

Consumers' _____ benefit when the government raises interest rates.

Taking a defensive driving course or driver's ed usually does not lead to ____.

If you spend more money than you have in your bank account, you are charged an overdraft fee.

A(n) ____ is a credit card interest rate and is calculated on a yearly basis.

Traditional savings accounts are not insured by the FDIC or NCUA.

A Certificate of Deposit (CD) must remain untouched for a fixed period of time before you can use the money.

An umbrella insurance policy protects the holder against liability costs beyond what's already covered by insurance.

Financial institutions often accused of targeting those in poverty & other vulnerable people w/ very high interest rates

Traditional savings accounts have the lowest interest rates of all investments.

When you buy a product at the store, you must also remember there will be an additional cost you have to pay--the ____.

If you get married, it won't affect you with the federal income tax bracket.

The amount of time it will take for an investment to double in value is calculates using the Rule of ____.

Mortgage principals will usually incresase if ______ increases, too.

Balancing your _____ is important in order to keep a record of your account amount(s) and your withdrawals.

If you receive a good or service now, but you pay later, you are using a credit card to "buy" it.

In a budget, a variable expense would be one that ____.

What are you a victim of if you notice your bank / credit card statement shows charges you didn't make?

In order to open a bank account, you need a government-issued ID, such as a ___.

A ___ is owned by members who also vote for and elect a board of directors.

Go here if you want to get money from a check, but don't have a traditional bank account.

A __ is a form an employer gives to their employee--It shows how much money is earned & how much was deducted that year.

A customer can buy an item with a ___, where they pay a deposit & then receive the item when the balance has been paid.