General Financial Literacy Utah State Final

What is the best reason to get a credit card?

Which of the following are ways to protect yourself from identity theft?

What is a profit that results from a sale of a captial asset, such as stock or house?

Spending on clothing is what kind of expense?

How long does credit information typically stay on your credit report?

Credit cards are a good example of.

Raul pays property tax in Dallas. On which of the following might he pay property tax for?

Opportunity cost BEST refers to which of the following

What is the tax called that is paid by consumers on purchased goods and services

Which of the following shows when a budget is balanced?

FAFSA is what you fill out for

__________ or higher is considered a good credit score.

Your credit score is MOST affected by which of the following.

When the price of goods begin to rise relative to the value of the dollar.

The way to protect yourself if someone falls and hurts themselves in your rented apartment.

Tells you how long it takes your money to double of value.

Money people pay to support the government.

A loan to buy real estate.

Money earned by working or investing.

You can avoid accumulating large amounts of debt by

The lowest amount you must pay toward your credit balance each month is called.

Occurs when a borrower is unable to repay a debt.

Not having enough of a resource.

You should always be aware of your ___________ before spending money on something.

To receive credit or money on loan with the promise and understanding of returning it.

Sam works at Ebay, Wyatt works at Walmart, Bob volunteers at Red Cross. Who is earning income?

What is interest?

Fred bought a hat for $22. The sales tax is 6%. How much did he pay for the hat and sales tax?

A series of consecutive recessions, where employment rate is very low and inflation is high.

What does it mean when you say "pay yourself first"?

When signing a lease to rent an apartment, it is important to do what?

Grant spent $80 at Gap, but only had $25 in his checking account, so he was charged a _____.

Interest rates on credit cards

Which of the following is also called gross income?

________ allows you to pay for items in installments over time.

Which agency regulates stocks and how they are traded?

In order to avoid identity theft, you should use caution when sharing which of the following?

Something that is essential to life.

PITI are the parts of your mortgage payment it stands for

The form you get in January that shows how much money was withheld for taxes.

Who enforces the tax laws?

The knowledge, skills and talents that people use to do their work is called.

Why do people want to invest in the stock market?

Interest which is calculated not only on the principal, but also the interest.

Something you have a desire to have.

A tax form an employee fills out that tells the IRS how much money to take out of the paycheck.

Which one of the following is inappropriate during a job interview?

Taxes paid by the employer AND employee.

Identity thief may want

The Annual Percentage Rate is.

Thanks to his black belt and/or his good grades. Andy earned a ______________.

All of these are part of the 3 C's of credit EXCEPT for

Gross Domestic Product measures?

All of these are ways to pay for college EXCEPT

An agreement by which a student borrows money from a bank to pay back after graduation.

An example of a SERVICE is...

Federal and state income tax returns are due every year on

Which of the following can Jim use if he wants to purchase an item now and pay at a later time?

A home mortgage is a good example of.

Net income (take home pay) is

A valuable possession such as property, business equipment, real estate or stocks.

A bank account that allows deposits and withdrawls and pays interest.

What is an advantage to having a debit card?

Jobs usually pay a higher salary when...

The FDIC is responsible for

Which of the following is NOT a retirement plan.

What financial institution owned by its members. Rates for borrowing are usually lower.

The following are types of investments EXCEPT?

A plan for managing income, spending and saving is called...

A specific amount that the insured pays before the insurance company will pay a claim.

Given to students to help pay for their education and do not have to be repaid.

Giving things like money, items and time to others and not expecting anything in return

Which is an example of a fixed expense?

What retirement savings contributions are deducted from the employee's paycheck before taxes.

The percentage or value that you own of your house.

An amount of money owed.

A ___________ is a consumer.

What is unemployment?

Ben bought groceries with his debit card. That money gets pulled from his _____.

What should a balance NEVER be?

The payment people receive for the work they do is called...

Which Federal agency protects the public health?

Which is the BEST way to buy something when your income and your fixed expenses are equal?

Tax form filled out by an individual determines the amount of income tax owed in a single year.

What is the best action to take to balance your budget?

A way to buy something and pay for it later.

Haley can either work at Taco Bell or McDonalds. If Haley picks McDonalds, Taco Bell is her...

Lee pays 2% in sales tax. If he buys a $60 game, what is amount of the sales tax?

The maximum amount of credit extended to you by a bank or credit card issuer is called the

The payment you make monthly for your insurance.

Which Federal Protection Agency prevents business practices that are deceptive to consumers?

What determines the number of jobs, goods and services available?

Which of the following would appear on your credit report?

One way to improve human capital is by...

A tax that is paid to the local government on real estate.

Social Security and Medicare is what kind of tax?

Refers to how easily and quickly your assets can be converted to cash.

To increase your credit score your balance should be no more than...

A numerical rating of your credit-worthiness

A computer scam that deceives consumers into disclosing their personal infromation is called.

Who guarantees your bank deposits up to $250,000?

When looking for a house, what should you consider?

He gives advice on purchasing and investing in stocks. He has to take an exam for this.

Which insurance is required by law to drive a vehicle in the state of Utah?