stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Financial Literacy Challenge Flashcards | StudBud
Explore
/
Financial Literacy Challenge
Financial Literacy Challenge
30 terms
·
StudBud Administration
·
139 plays
A game of knowledge for the 11th grade Financial Literacy Course.
Flashcards
30 cards
F
Practice quiz
P
Host live
L
Questions
30
Answers
1
What does A.P.R stand for?
Annual Percentage Ratio
Annual Percentage Rate
Actual Purchase Ratio
Annuity Percentage Rate
2
Which of the following is a way someone can steal your identity?
All of the above
Using sites that begin with "http"
Bogus job offers
Using file sharing sites
3
An example of a long-term goal would be:
saving for retirement
buying a used car
an annual vacation
completing college within the next six months
4
The financial planning process includes all the following steps except:
Analyzing information
Monitoring and modifying your plan
Setting smart goals
Withdrawing money from the bank
5
When filling out a form with sensitive information, it is important to verify that:
The web address begins with "https"
There is a picture of a lock at the bottom of the page.
All of the above
The web page states that this web site is secure.
6
A clearly written financial goal would be:
To save money for college for the next five years
To pay off credit card bills in 12 months
To invest in an international mutual fund for retirement
To establish an emergency fund of $4,000 in 18 months
7
What is rummaging through trash looking for bills or things with personal info on it is called?
Phishing
Dumpster Diving
Skimming
Trash hopping
8
When planning a budget, your fixed expenses include all but which of the following:
Health Insurance
Food
Cell phone
Car payment
9
You should never change or alter a financial plan regardless of the situation.
True
False
10
Which of the following is not a way to combat Identity theft?
Do not open attachments or click on links in emails.
Keep social security card & birth certificate in your wallet
Shred all important documents.
Review bank and credit card statements often.
11
What is credit?
The amount of money that is borrowed and will be paid back.
The amount of money you borrow and do not have to repay.
The amount of money that is saved in a savings account.
The amount of money that you spend on a shopping trip.
12
An example of a fixed expense is:
Clothing
Auto insurance
Electric bill
Educational expenses
13
What does a high FICO score indicate?
The individual will cancel his/her credit cards
The individual is likely to pay their bills.
The individual is more likely to carry a debt.
The individual does not pay their bills
14
True or False: The annual fee for a credit card is set by the government.
True
False
15
A common advantage of using credit is:
less impulse buying
ability to obtain needed items immediately
lower chance of overspending
lower cost for items purchased
16
Having a poor credit score can effect all of the following except:
the ability to get a job
the ability to buy a house
the ability to purchase a car
the ability to get reservations at a restaurant
17
True or False: A steady employment record helps a person’s credit history.
False
True
18
What is phishing?
An online con where people give up sensitive information.
An online sporting event.
A way of fixing your credit score.
A form of identity fraud.
19
What is the one of the most popular forms of credit?
Credit Cards
Debit Cards
Checking Accounts
Cash Money
20
Car loans are an example of ______ credit.
installment
revolving
retail
single payment
21
Bankruptcy refers to the process of:
using court action to have payments deducted from paycheck
using court action to reduce or eliminate your debts.
obtaining assistance from a credit counseling service
obtaining permission to be late with credit payments.
22
Thieves will change your address to divert credit card mail in order to hide their activity.
True
False
23
What does the APR on a credit card measure?
The annual fee you pay to have a credit card.
The interest rate you earn on the money you borrowed.
The percentage of money you charge on a credit card.
The interest rate charged by the credit card company.
24
What is financial literacy?
The ability to accurately gauge A.P.R.
The ability to balance a checkbook.
The vocabulary needed to manage one's personal finances.
Understanding the rules of credit.
25
A credit card issued through a credit union would be an example of a what type of card?
Bank
Proprietary
Travel and Entertainment
Store
26
Which is commonly considered a flexible expense?
A mortgage payment
Home Insurance
Rent
Entertainment
27
Using false pretenses to obtain personal info from a phone call from a financial institution?
File Sharing
Phone Surfing
Pretexting
Skimming
28
When setting Short Term Goals they should be accomplished in what time frame?
With in three days
With in three decades
With in three months
With in three years
29
What is a credit report?
A police report about your credit.
An IRS report about your credit.
A record of your borrowing and paying habits.
An IRS report about your taxes.
30
Financial Literacy includes all the following except:
How to protect yourself from identity theft.
How to use credit cards wisely.
How to read at a bankers level.
Knowledge of how to manage your money.
