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Math Finance Semester Quiz Flashcards | StudBud
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Math Finance Semester Quiz
Math Finance Semester Quiz
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1
Which of the following does the Federal government spend a LARGE portion of taxpayer money on?
Transportation
Military
Education
Science
2
What is a line of credit?
Amount of days you have to pay back credit
Amount of money you can borrow to pay back later
Amount of items you purchased with your credit card
Amount of credit cards you have
3
All of the following are benefits of going to college EXCEPT…
Exploring new hobbies and meeting new people
Pursuing areas of study you’re interested in
Guaranteeing that you’ll get your dream job
Increasing your future earning potential
4
What is an overdraft fee?
Fee for going below your minimum balance requirement
Fee for withdrawing more money than what you have.
Fee for using out-of-network ATM
Fee for writing a check
5
In order to qualify for financial aid, prospective college students must file their.......
Financial aid letter
Parent's credit score
SAT or ACT scores
FASFA
6
How can you improve your credit score?
Pay all of your bills on time
Apply for 3 new credit cards in two months
When merchants ask, "Credit or debit?" always choose credit
Spend more money on each of your credit cards
7
When it comes to paying for college, your BEST option is...
Work-study
Federal student loan
A private loan
a grant or scholarship, because you don't repay them
8
Which word represents the total cost of the item you’re purchasing on credit minus any down payment you make upfront?
APR
Principal
Interest rate
Term
9
What is one advantage of starting to invest as early as possible?
You’re eligible for higher interest rates the younger you are.
You have access to more funds.
Your money has more time to grow.
You’ll get a discount on any fees for funds you invest in.
10
Owning a share means you own a percentage of the company.
False
True
11
Which term from your bank statement represents the amount of money you have in your account at a given point?
Reference Number
Balance
Withdrawal
Deposit
12
Simple interest is when interest is paid on the principal amount only.
True
False
13
Grants are typically needs-based while scholarships are typically merit-based.
True
False
14
Each of the following is a benefit of online and mobile banking EXCEPT...
You can keep an ongoing record of your deposits and withdrawals
You can overdraw your account without penalty
You can transfer money electronically between accounts
You can check your balances before you make a purchase
15
Gross pay is before taxes and deductions are subtracted; Net pay is your take-home pay.
True
False
