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Financial Literacy 1 Flashcards | StudBud

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Financial Literacy 1

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Financial Literacy topics for high school students #financialliteracy

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Questions 10

Answers

1
What are the two main reasons to save money?
For emergencies and to buy everything you want
For emergencies and major purchases
So you can invest it and donate it
To pay off your credit cards and for major purchases
2
Health insurance is:
a must buy for your budget.
more important for women than men.
an unnecessary expense because you may not need it.
only for those who get sick.
3
One common thing of most financially successful people is that they:
quit school before they were 18.
started a business early in life.
always keep $500 in their pocket.
worked part-time as teenagers.
4
One major problems with credit cards is that people:
have to pay to use them.
forget to use them.
buy things that they can't afford.
lose them a lot.
5
Which of the following is NOT an example of a scam?
Selling things on Ebay
Identity theft
Chain-mail involving money
Phishing e-mails
6
People who do not understand the difference between _________ usually have financial problems.
food and shelter
buying and renting
taxes and insurance
needs and wants
7
Chain mails involving money are:
completely legal but unethical.
usually legal and ethical.
legal if you are 21.
completely illegal.
8
Which item below would be most likely to depreciate if you owned it?
a car
gold
a house
All of the Above
9
If you use a credit card, you should:
pay the minimum each month.
be able to buy anything you want.
never pay the bill.
pay the full balance each month.
10
You will likely earn over how much money before you retire?
one million dollars
five billion dollars
one hundred thousand dollars
fifty thousand dollars