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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Flashcards
12 cards
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Practice quiz
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Questions
12
Answers
1
When would it NOT be okay to get a loan?
Car
College
Vacation
Mortgage
2
In terms of credit, what does APR stand for?
Annual Payment Rate
Annual Percentage Rate
Annual Penalty Rate
Any Payment Rate
3
How long can negative financial info stay on your report?
7 years
10 years
1 year
Forever
4
What are good ways to improve your credit score? Select all that apply
Don't get a credit card ever
Keep a positive history on your credit report
Keep your credit card balances under 30% of your credit limit
Pay all your bills on time
5
What is an excellent credit score?
720-850
100
600-670
930-1000
6
Select all the ways you can help pay for college:
Scholarship
FAFSA
Part time job
Rob a bank
7
A night out is a want
True
False
8
What should you account for in your budget? Select all that apply:
Gas
Healthcare
Groceries
Savings
9
If you default a loan or do not pay the amount in the agreement, Other lenders will have this info and turn you down
True
False
10
You should only use 50% of your credit card limit
True
False
11
What is a credit report?
When you don't pay your credit card bill and they report you
Your review of a credit card company
A loan and bill payment history
How much money you can spend on your credit card
12
Textbooks are a want
False
True
