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Economis Review
Economis Review
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Basic financial literacy quiz
Flashcards
10 cards
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Practice quiz
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Host live
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Questions
10
Answers
1
Federal law gives you three days to cancel the purchase of a new or used car.
False
True
2
Which type of credit typically has the highest interest rate?
Mortage
All are about the same
Credit Card
Auto Loan
3
You went to college & earned 4-year degree. How much more $ could you earn than with diploma?
No more; I would make the same either way.
A little more; about 20%
About 10 times as much
A lot more; about 70%
4
Who insures your stocks in the stock market?
No one
The Securities and Exchange Commission
The Federal Deposit Insurance Corporation
The US Department of Treasury
5
A check is a legal contract.
False
True
6
By using _______ at the grocery store, you can compare the cost of any brand and size.
Competitive shopping
Unit pricing
Coupons
Aisle labels
7
Which is the best way to save?
Save at least 25% of your birthday money
Pay yourself 1st
Whatever is left over after spending, set aside
All at once
8
If your credit card is stolen & used, you are responsible for what amount?
Up to $50
All unauthorized charges
Up to $500
Up to $100
9
A credit report is....
A loan and bill payment history
Your monthly credit card statement
A list of your financial assets and liabilities
Your credit line with your financial institution
10
Negative financial information can stay on your credit report for:
5 years
2 years
10 years
7 years
