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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Financial literacy for teens.
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
What kind of car insurance is required by Arkansas law?
liability
comprehensive
secure
unsecure
2
A market that shows a steady climb is known as a ________ market.
lion
tiger
bull
bear
3
What is a common way to get money fast but usually results in debt?
atm
checking
savings
pay-day lending
4
This institution offers accounts such as checking and savings.
ATM
Bank
Finance Company
Investment Company
5
What is the name of the federal institution that is responsible for producing money?
Federal Trade Commission
Securities and Exchange Commission
Internal Revenue Service
United States Treasury
6
In what situation, can one spend about 80% more than if they had paid cash up front?
revolving credit
rent to own
secure credit
7
Life insurance pays out to the _____ in the event of the insured person's death.
friends
beneficiary
family
coworkers
8
What is the name of the federal institution that is responsible for protecting money?
FDIC
United States Treasury
Federal Reserve
Securities and Exchange Commission
9
The principle of _____ spreads investment monies out among many different investments.
common
diversification
standard
portfolio
10
If investments are easily converted into cash, they are said to be_____
assets
money
liabilities
liquid
11
What federal corporation insures an individual's bank account up to $250,000?
FDIC
Social Security Administration
FTC
IRS
12
Attached to an employee's check that contains tax, insurance, and withholding information.
W-2
Pay Stub
1040EZ
W-4
13
What is a written plan in which one subtracts expenses from income?
checks
assets
budget
liabilities
14
Matching the transactions on a bank statement to personal records at the end of every month.
credit
debit
withdrawl
reconciliation
15
Can you live and be successful with a FICO(credit) score of "0"?
Yes
No
16
This is the amount of time it takes someone to double their money.
72 Year Rule
Rule of 12
12 Year Rule
Rule of 72
17
A market that has drastic ups and downs over a short period of time is a ________ market.
secure
volatile
stable
unsure
18
A _______ card works just like a check, automatically taking money from bank account when used.
Debit
Revolving Credit
Credit card
Gift
19
A home loan is also known as a ______.
mortgage
credit
unsecure
asset
20
What is considered a "good" credit score?
550
250
350
750