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JASN Finance Park Flashcards | StudBud
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JASN Finance Park
JASN Finance Park
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Finance Park 2.0
Flashcards
21 cards
F
Practice quiz
P
Host live
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Questions
21
Answers
1
Which category may involve paying off credit card balances and managing credit?
Credit Card
Health Insurance
Utilities - Gas
Groceries
2
Which of the following is an example of debt?
Owning a home without a mortgage
Paying for groceries with cash
Paying rent for your apartment
Using a credit card to buy a laptop
3
What is the primary purpose of a savings account?
Buying a car
Paying monthly rent
Earning interest on your money
Dining out
4
Which category covers expenses related to childcare services?
Child Care
Auto Insurance
Furniture
Credit Card
5
Which category typically includes rent or mortgage payments?
Child Care
Auto Insurance
Housing
Cable-Internet
6
Which category accounts for expenses related to apparel and fashion?
Transportation
Water/Sewer
Clothing
Groceries
7
What type of account earns interest on your savings?
Philanthropy account
Savings account
Checking account
Credit card account
8
What category includes expenses for eating at restaurants or ordering takeout?
Dining Out
Utilites-Trsh
Transportation
Water/Sewer
9
What is the primary purpose of a budget?
To increase debt
To allocate income to various expenses and savings goals
To eliminate the need for savings accounts
To restrict all spending
10
What category involves giving to charitable causes or organizations?
Utilities - Electricity
Philanthropy
Credit Card
Home Insurance
11
What category includes expenses for mobile or landline phone services?
Phone
Furniture
Bank - Savings
Dining Out
12
What category encompasses costs for renovating or repairing your home?
Phone
Water/Sewer expenses
Home Improvement
Health Insurance
13
How does investing differ from saving money in a bank?
Saving money in a bank is tax-free.
Investing guarantees a fixed interest rate.
Saving money in a bank offers immediate access to funds.
Investing typically involves higher risk and potentially higher returns.
14
Why is having good credit important?
It allows you to avoid paying taxes.
Good credit can help you save money on loans and interest rates.
It provides free access to cable and internet services.
Good credit guarantees financial success.
15
What is considered a source of income?
Wages from a part-time job
Cable-Internet expenses
Groceries expenses
Water/Sewer bills
16
What type of insurance helps cover medical expenses?
Clothing expenses
Health insurance
Auto insurance
Home insurance
17
What type of insurance covers damage to your home from fire or natural disasters?
Credit card expenses
Home insurance
Auto insurance
Health insurance
18
What does "risk management" refer to in finance?
Protecting against potential financial losses
Ignoring potential financial pitfalls
Making risky investments for quick gains
Avoiding all financial risks
19
What category includes expenses related to cable and internet services?
Auto Insurance
Groceries
Cable-Internet
Home Improvement
20
What type of insurance covers damage to your vehicle in a car accident?
Auto insurance
Home insurance
Philanthropy
Health insurance
21
What type of loan is used to buy a house?
Mortgage loan
Student loan
Home improvement loan
Auto loan
