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Financial Literacy Final Review Flashcards | StudBud
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Financial Literacy Final Review
Financial Literacy Final Review
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#GraduationRequirement #Financial Literacy
Flashcards
55 cards
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Practice quiz
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Questions
55
Answers
1
The ability to learn a particular kind of job is called ________.
Self-Assessment
Aptitude
Skills
2
"Reconcile" is the process of comparing these two documents...
Check Register - Checkbook
Bank Statement - Checkbook
Bank Statement - Check Register
Check Register - Deposit Slip
3
A ________ goal is achieved in 2 months or less.
Long Term
Medium Term
Short Term
Financial
4
A credit score of 800 is...
Fair
Excellent
Poor
Good
5
CDs and Savings Accounts pose minimal risk because...
High Interest Rates earned
Tax Deferred
FDIC Insured
6
A ________ goal is achieved in 3 years or more.
Long Term
Financial
Medium Term
Short Term
7
Deciding to wear jeans based on comfort and style. This is which step?
Make A Decision
Evaluate Your Alternatives
Define the Problem
8
Saving money for education and books is best done using which account?
Checking Account
529 Account
Savings Account
IRA Account
9
Being restricted on the amount of miles driven each year is a ________.
Advantage of Leasing
Disadvantage of Leasing
Disadvantage of Buying
Advantage of Buying
10
Shoes, jacket, and pants are an example of a ________.
Need
Want
Discretionary
11
Life phase that begins when a person is born and ends when they officially enter the workforce.
Developing Phase
Retirement Phase
Working Phase
Beginning Phase
12
A brief summary about who you are and what you do is called a ___ Second Elevator Pitch.
15
30
60
13
The routing number identifies...
Check #
Bank
Checking Account
Region
14
“Don’t put all of your eggs in one basket” is a reminder to always ________.
Manage
Diversify
Divide
Separate
15
I do not know what to wear to school today. This is which step in the Decision-Making Process?
List Alternatives
State Your Criteria
Make A Decision
Define the Problem
16
Life phase that begins when a person is able to retire and ends when they die.
Working Phase
Retirement Phase
Ending Phase
Developing Phase
17
Being able to modify your car with a remote key starter or fancy rims is an ________.
Disadvantage of Buying
Advantage of Leasing
Advantage of Buying
Disadvantage of Leasing
18
A composer or vocalist is good at being aware of sounds and audio cues. Which 9 Intelligence?
Musical
Intrapersonal
Linguistic
Bodily-Kinesthetic
19
Which document do you use to record all of your transactions?
Checkbook
Checkbook Register
ATM
20
The symbol of a company that sells stock, is called ______.
Stock
Acronym
Initials
Ticker
21
Not being responsible for maintenance and repairs on your home is an ____________.
Disadvantage of Buying
Advantage of Buying
Advantage of Renting
Disadvantage of Renting
22
A politician is good at noting distinctions among others. Which 9 Intelligence?
Linguistic
Intrapersonal
Logical/Mathematical
Interpersonal
23
A chef or botanist is good at exploring and seeing patterns. Which 9 Intelligence?
Spatial/Visual
Existential
Naturalist
Interpersonal
24
Wear jeans, sweats, a skirt, or a dress to school. Which step in the Decision-Making Process?
Define the Problem
List the Alternatives
Make A Decision
State Your Criteria
25
Checking Accounts are best for...
Saving Money
Raising your Credit Score
Day to Day Spending
Getting a Credit Card
26
The lowest interest rate is usually earned on a...
Retirement Account
Mutual Fund
Certificate of Deposit
Savings Account
27
Comfort, weather, temperature, and style. This is which step in the Decision-Making Process?
State Your Criteria
Evaluate Your Alternatives
Define the Problem
List Your Alternatives
28
Not establishing equity in your home is a ________.
Disadvantage of Leasing
Advantage of Leasing
Disadvantage of Buying
Advantage of Buying
29
Athletes are good at physical activities. Which 9 Intelligence?
Bodily-Kinesethic
Naturalist
Spatial/Visual
Existential
30
To determine the maximum price a person should spend on buying a home. Multiply salary by...
3.5
3
2.5
2
31
Being able to knock down walls and renovate your kitchen is ____________.
Disadvantage of Buying
Advantage of Buying
Advantage of Renting
Disadvantage of Renting
32
Getting an expensive car every 2-3 years with lower month payments is an ________.
Disadvantage of Buying
Disadvantage of Buying
Advantage of Buying
Advantage of Leasing
33
Life phase that begins when a person enters the work forces and ends when they retire.
Developing Phase
Retirement Phase
Saving Phase
Working Phase
34
An expense that responds directly to changes. Example: electric.
Fixed
Variable
Bills
Operating
35
A disadvantage of using credit...
Earn Miles
Credit costs you more money
Immediate Access
None of the Above
36
TOTAL cost of credit for one year is...
Interest
Finance Charge
Annual Percentage Rate
Grace Period
37
When you receive a check, you sign the back in order to make a deposit.
False
True
38
An iPad, iPhone, and Sports Car are examples of a ________.
Want
Need
Discretionary
39
A very poor credit score is...
225
340
550
285
40
Dealing with the hassles of trading-in or selling of your car is a ________.
Advantage of Buying
Advantage of Leasing
Disadvantage of Buying
Disadvantage of Leasing.
41
The price of using credit is called...
Finance Charge
Interest Rate
Interest
42
An expense that does not fluctuate with changes. Example: mortgage.
Fixed
Variable
43
Being responsible for property taxes is a ________.
Disadvantage of Renting
Advantage of Buying
Advantage of Renting
Disadvantage of Buying
44
A philosopher is good at seeing the big picture. Which 9 Intelligence?
Existential
Logical/Mathematical
Musical
Linguistic
45
A ________ goal is achieved in 3 months to 3 years.
Long Term
Short Term
Financial
Medium Term
46
A spiritual leader is good at being aware of their feelings. Which 9 Intelligence?
Bodily-Kinesethic
Linguistic
Intrapersonal
Interpersonal
47
Deposit services include...
Credit Cards
Checking Account
Retirement Account
All of the Above
48
Deposits are subtracted from your bank account.
False
True
49
A painter is good at using their imagination and thinking in 3D. Which 9 Intelligence?
Linguistic
Spatial/Visual
Logical/Mathematical
Existential
50
An advantage of using credit...
Pay It Later
Build Credit
Immediate Access
All of the Above
51
The length of time you pay off an auto loan is called the term.
True
False
52
A fixed mortgage is scheduled to take ___ to ___ years to pay off.
20 to 40
35
15 to 30
10 to 25
53
A ________ is used for buying a house.
Credit Card
Loan
Auto Loan
Mortgage
54
A formal plan that helps track and control income and expenses over a defined period of time.
Budget
Tracker
Plan
Register
55
Period of time which you are not charged interest on new purchases.
Finance Period
Grace Period
Annual Fee
Period
