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Duplicate of Final Review
Duplicate of Final Review
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Financial Literacy Review #finance #personal #financialliteracy
Flashcards
21 cards
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Practice quiz
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Host live
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Questions
21
Answers
1
Experts like Dave Ramsey want you to have this many months of savings to cover expenses
1 - 3
7-9
1 year
3 - 6
2
The amount of money you owe on a loan (not interest)
Interest Rate
Premium
Principal
Collateral
3
Credit Card companies must be sure to inform you of the terms and conditions.
true
false
4
You earn more money if you
have a big savings account and keep credit card debt
pay off your credit card debt but have small savings
5
Supply of houses is up, demand is down...prices go
up
down
6
Paying off your credit card in a grace period, you create a short-term free line of credit.
true
false
7
You won't pay interest on credit card debt as long as you pay it off in full that same month
true
false
8
IPO
initial price offer
initial public offering
initial principal order
identifying private ordering
9
Which is like an IOU (loaned money)
stocks
tax deferred
bonds
mutual funds
10
Return on your portfolio depends on your
income / level of education
career / number of family members
age / risk tolerance
assets / debt
11
Simple interest is
100, 110, 120, 130
100, 115, 135, 165, 180
100, 110, 121, 133
12
When you earn money on a sale of an asset
net worth
gross pay
dividend
capital gain
13
You are publicly traded when your stock is
sold in the primary market
bought and sold in a full service brokerage
sold in an IPO
sold in the secondary market
14
A loan equals the difference between the ______ and the total price of the asset
collateral
interest
down payment
principal
15
You pay taxes when you withdraw your money
variable
tax deductible
fixed
tax deferred
16
Which will earn you the LEAST typically?
stocks
bonds
CDs
mutual funds
17
Credit Card companies MUST be sure you UNDERSTAND the interest rates.
true
false
18
Make sure your checkbook numbers match your bank account numbers
inflow
reconcile
overdraft
summarize
19
Financial Plans are like a blue print. Which is NOT why...
You can sell it to someone else
You can change it
You can pay someone to help you build it
You can set goals
20
The amount you pay to have an insurance plan
fiat money
premium
interest
down payment
21
We value dollars because the government orders we accept it for value as payment
discount rate
monetary policy
inflation
fiat money