Financial Literacy Post Assesment Prep!

What is a Short term goal?

Which of the following can help stop impulse buying?

Having a low credit score could mean higher interest rates than people with higher credit scores.

In what category of a typical family budget do people spend MOST of their money?

The lower an applicant's credit score, the lower the risk to the lender.

Credit Cards provide pre approved credit.

An ROI can be negative.

What is a ROI?

In what area category of a typical family budget do people spend most of their money?

This type of retirement account is offered by employers and can have an employer match.

What is the Strategy of the Stock Market?

Paying Interest when you do not make a payment in full, is a disadvantage of credit cards.

What does PYF Stand for?

Who pays taxes?

Tax deducted from your pay to help pay for health insurance for seniors and people with disabilities.

What is discretionary income?

Which of the following is a Want and not a need?

Stocks are insured against loss by most banks and credit unions

What does IRA Stand for?

Your credit score can affect your ability to get a loan or credit card.

Credit Dings are a good thing.

Which of the following is not a main tax type?

The total amount of earnings made over a month, before any deductions, is known as ...

The total amount of earnings made over one-year period after all deductions have been taken is known as ...

What is a CON of health insurance?

What will affect your credit score negatively?

Insurance that helps replace lost income.

The initial amount you borrow when taking out a loan is called a loan...

This type of investment is essentially an IOU with a set rate of return. They pay back a sum plus interest payments.

Interest is the fee one must pay for borrowing money.

The purpose of taxes is to ...

A record of income and expenditures for a given period of time is...

A record of income and expenses for a given period of time is called a/an ...

When lenders lend money to borrowers, they charge an additional fee for the use of their money. This fee is called ...

Pays a benefit to survivors in the case of death.

If you want savings insured by the FDIC (Federal Deposit Insurance Corporation) wants to use this savings option ...

What is an insurance premium?

Pools money from Shareholders to buy varied securities, such as stocks and bonds