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Utah Financial Literacy Standard 3 Objective 2 Flashcards | StudBud
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Utah Financial Literacy Standard 3 Objective 2
Utah Financial Literacy Standard 3 Objective 2
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A quiz I made for my Financial Literacy class.
Flashcards
22 cards
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Practice quiz
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Questions
22
Answers
1
Rise in the average price of goods and services produced through an economy...
Deflation
Inflation
Recession
Depression
2
CD (in financial literacy) stands for...
Compact Direction
Compact Disk
Complete Deal
Certificate of Deposit
3
When investors don't receive a dividend in cash, but is $ immediately put back in for equity is
Long term investment
Dividend Reinvestment
Equity Investment
CD
4
An account in which individuals may set aside income in a tax deferred plan for retirement.
403 (b)
IRP
IRA
Roth IRA
5
Diversification is...
A risk management technique, mixing a variety of investments
Talking to people of many different financial backgrounds.
Having currency from every country
Buying several different countries products
6
Interest paid or to be paid both on principle and accumulated unpaid interest.
Accumulative Interest
Multiplicative Interest
Compound Interest
Inflation
7
The Rule Of 72 is...
Always keeping $72 in your checking account
Saving $72 per month towards retirement
A law made in 1972 preventing banks from giving low interest
A way to estimating double/halving time on compound interest
8
Money saved over a period of time. Funds not spent and set aside, often regularly for later use
Savings
Short Tem Investment
PYF (Pay yourself first)
All of the above
9
An account on the assets side, that a company intend to keep for over one year...
CD
Short-Term Investment
IRA
Long-Term Investment
10
A tax-reduced retirement plan for public school teachers, some nonprofit employers, & others
LIRP (Low Income Retirement Plan)
401K
403 (b)
Retirement Planning
11
Money put aside for profit.
Roth IRA
IRA
Investment
Retirement Planning
12
"In 2001 Dalbar® concluded that average investors never achieve market index returns" shows...
Reasons not to invest money
Most people lose money on the stock market
Investor behavior
Most people make money on the stock market
13
Short Term Investment is...
An account with a company's investments expiring in 2 years
An account with a company's investments expiring in 1 year
An account with a company's investments expiring in 6 months
An account with a company's investments expiring in 5 years
14
Pay yourself first is...
A phrase meaning 'eat drink and be merry'
A phrase meaning 'spend your money on yourself'
A phrase meaning 'be your own boss'
A phrase meaning 'save for retirement'
15
Recession is...
A rise in oil prices
A decline in national economic activity for 2 quarters
A decline in national economic activity for 1 year
A severe depression
16
The difference between an IRA and a Roth IRA is...
Roth is set up by your employer
Roth money comes our of budget first
Roth is taxed
Roth money comes out of budget last
17
Interest paid or figured on the original amount of a loan or the amount of an account.
Easy Interest
Flat Interest
Elementary Interest
Simple Interest
18
A sustained decrease in the average price of all goods and services produced in the economy.
Deflation
Expansion
Inflation
Recession
19
A process of determining retirement income goals and taking the steps to achieve them...
401K
IRA
Retirement Planning
Roth IRA
20
A period where business activity surges and gross product expands until it reaches a peak...
Expansion
Deflation
Contraction
Depression
21
The profit on money invested, which is usually a percentage of invested amount.
Risk/Reward
Expansion
None of the above
Interest Earned
22
Workplace savings plan allowing employees invest part of their paycheck before tax.
403 (b)
CD (certificate of deposit)
401K
IRA
