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Financial Literacy Year End Review Flashcards | StudBud
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Financial Literacy Year End Review
Financial Literacy Year End Review
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Financial Literacy Year End Review #financialliteracy #highschool
Flashcards
43 cards
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1
An investor that varies their investments in different areas (ex. stocks, bonds, real estate)
Short Selling
Diversification
Dividend re-investment
Inheritance
2
Which of the following is not one of the 3 Credit Reporting Agencies?
Experian
Transunion
Equifax
Empirical
3
Which type of insurance will protect against financial loss due to illness?
Life
Home Owner/Renter
Automobile
Health
4
Which of the following Financial Institutions is owned by it’s members?
Bank
Savings and Loan
Stock Brokerage House
Credit Union
5
An expense that is different each month?
Revenue
Fixed
Income
Variable
6
A high-tech scam that uses spam or pop-up messages to deceive consumers is?
Identity Theft
Phishing
Predatory Lending
Ponzi Scheme
7
A savings term that describes what you should do with your income before you spend it on wants?
“Pay yourself first”
“Live the Golden Rule”
“Practice makes perfect”
“Live outside your means”
8
A general increase in prices and fall in the purchasing value of money.
Supply and Demand
Inflation
Economy
Deflation
9
The application that a high school senior should fill out, to try & get college financial aid?
Credit Application
I-9
Short Term Loan
FAFSA
10
Something that is passed down from your parents to you?
Inheritance
Insurance
Financing
Co-Signing
11
When a person writes a check, but doesn’t have the money in account to cover it?
Utter Stupidness
Bounced Check
Fraud
Bankruptcy
12
What kind of insurance provides income payments for long-term injuries or illness?
Home Owner/Renter
Disability
Automobile
Health
13
Which of the following financial institutions will loan money out at the highest interest rate?
Credit Union
Bank
Finance Companies
Payday Lender
14
An economic principal that exists because of unlimited wants/needs and limited resources?
Scarcity
Investing
Opportunity Costs
Supply and Demand
15
Loans that typically have lower interest rates & payments can be deferred until out of school?
Student Loans
Short-Term Bank Loans
Credit Cards
Car Loans
16
Interest that is paid on just the principal?
Interest is not paid on a principal
Compound Interest
Simple Interest
Lack of Interest
17
Making regular monthly payments on a loan (i.e. car payment) is what kind of credit?
Unsecured Credit
Revolving Credit
Store Credit
Installment Credit
18
The concept of not buying a junker car today, to save and buy a better car later on is called?
Deflation
Delayed Gratification
Diversification
Crazy!!! I want it now!
19
Using the rule of 72, how long will it take to double your money earning 6% interest?
432 days
6 years
Depends on the amount of money
12 years
20
Money set aside for the purpose of future spending?
Investing
Saving
Insuring
Spending
21
The crime which involves obtaining personal information so that the criminal canmake purchases?
Bankruptcy
Predatory Lending
Ponzi Scheme
Identity Theft
22
Insurance term that describes how much you must pay before the insurance company pays any money
Beneficiary
Grace Period
Premium
Deductible
23
The tax-advantaged investment plan that is a college savings plan?
529 Plans
IRA
403(b)
401K
24
An expense that is the same each month, like a car payment?
Income
Vaiable
Fixed
Revenue
25
The employment form that is filled out to prove citizenship is the
I-9
W4
I-15
W-2
26
Which type of insurance will cover your property due to theft or common natural disasters?
Automobile
Health
Home Owner/Renter
Disability
27
How long are short time goals?
1 week
Up to 3 months
Up to 6 months
1 month
28
Which of the following would not negatively affect your credit score?
Getting fired from your job
Late payments on your bills
Opening a bank account
Criminal record
29
What will happen to the price of a product if the demand is low and the supply is high?
Stay the same
Go Down
No Effect
Go Up
30
Which document is a summary of job qualifications?
Letter of Recommendation
Resume
Cover Letter
Job Application
31
If you put $50,000 into a bank and the bank fails, what organization will get your money back?
NCUA
FDIC
The FED
Full Coverage Insurance
32
What is the time frame for long term goals?
Up to 6 months
Up to 3 months
Doesn't matter time, just get them done
More than 6 months
33
When a corporation pays out part of it’s profits to stockholders, this is known as what?
Inheritance
Deductible
Dividends
Installments
34
The Economic Principal that helps explain why prices go up or down in the stockmarket is?
Goods and Services
Opportunity Cost
Scarcity
Supply and Demand
35
The central banking system of the U.S. is?
Certificate of Deposit (CD)
The Federal Reserve (The Fed)
NCUA
FDIC
36
A financial plan used to track income and expenses is known as a(n)?
Budget
Diversification Strategy
Financial Goal
Bankruptcy Plan
37
Interest that is paid on both the principal and accumulated interest?
Simple Interest
Interest is not paid on interest
Compound Interest
Lack of Interest
38
When a person is deep in debt, and they can’t see another way out, they might file for this?
Bankruptcy
Credit
Payday Lending
Fraud
39
A retirement investment tool which has tax-deferred benefits?
Stocks
IRA
CD
Mutual Fund
40
When you see FICA on your paycheck, where is that money going?
Interest
Bank Insurance
Social Security
Back to the employer
41
I will save $600 to buy a TV in the 3 months by working extra hours is an example of?
Financial Goal
Long Term Goal
Short Term Goal
SMART Goal
42
The income a salesperson (ex: stockbroker) makes on each sale he/she makes is a
Commission
Allowance
Wage
Salary
43
The financial concept that says that a dollar today is worth more than a dollar tomorrow?
Scarcity
Time Value of Money
Supply and Demand
Taxes
