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