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Personal Finance Final Review 2025 Flashcards | StudBud
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Personal Finance Final Review 2025
Salary is a job benefit.
Which is an example of a dark pattern?
Personal Finance Final Review 2025
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1
Which is an example of a dark pattern?
A clear and simple privacy settings page.
Roach motel
A website that explains all fees clearly before checkout.
A website that makes it easy to cancel your subscription with one click.
2
Salary is a job benefit.
False
True
3
What are two options to pursue after high school?
Going back to middle or elementary school
College or career
Waiting until retirement to make decisions or stay in high school
Ignoring job opportunities altogether or retire
4
What is the Snowball Method?
Combining multiple debts
Ignoring debt until it's gone
Paying the highest-interest debt first
Paying the smallest debt first and working upwards
5
Which of the four factors directly impact your total cost of using the credit card?
Penalty Fees/Rates
All of these
Annual Fee
APR (Annual Perentage Rate)
6
Difference between credit and debit cards
I’m not sure
they’re the same
debit isnt coming out of your bank account but credit is
debit comes directly out of your bank account and credit does not
7
Lesson planning is a soft skill
False
True
8
What is a prepaid card?
A card only useable at one store
A limited card that only has the amount you loaded onto it.
A payment used to pay friends back
A card with unlimited acsess to your bank account.
9
What is the avalanche method?
Paying off debts with the highest principle first
Paying off debts with the lowest principle first
Paying off debts with the highest interest first
Paying off debts with the lowest interest first
10
What is authenticity?
Consistently representing your brand’s core values
Copying successful competitors’ strategies to fit in.
Marketing based on what people want to hear.
Creating a fake persona to attract more customers.
11
What are the minimum and maximum credit scores
400-900
300-850
250-800
400-800
12
What is the STAR interview method?
A method of dressing professionally for an interview
A technique to research companies before an interview.
A style of asking questions during the interview.
A way to interview explaining the Situation, Task, Action, and Result.
13
Why is budgeting important?
It lets you ignore financial responsibilities
It helps you avoid debt and manage expenses.
It prevents you from ever spending money.
It guarantees you will become rich overnight.
14
Why should you pay more than the minimum payment on an amortization loan?
It is applied only to interest
It reduces the principal faster and saves interest
It reduces the interest rate
Amortized loans have higher rates
15
Why is comparison shopping important?
It makes shopping take longer, so you buy less.
It guarantees you will get free shipping on every purchase.
It helps you find the best product for your needs at the best price.
It allows you to avoid spending money entirely.
16
Equal billing is where you pay the same amount for the rest of your life.
False
True
17
The 50/30/20 rule is 50% wants, 30% savings, and 20% needs
False
True
18
What is the Pay Yourself First way of budgeting?
Spend money on entertainment first
Pay utilities first
Pay off debt first
Save money first
19
What is a pump and dump scam?
Quick way to grow and sell stocks for profit
Marketing strategy where companies offer discounts to boost sales
A method of securing loans by using multiple small stock purchases
A scam where stock prices are artificially inflated
20
What is a dark pattern?
A type of coding error that causes websites to crash.
A stylish website design using dark colors for a sleek look.
. A user interface designed to trick or manipulate people
A feature that protects users from harmful content.
21
Why should you review your credit report regularly?
To increase credit views, which automatically increases your credit score
To monitor how different factors are impacting your FICO score
To check your credit report for accuracy
To open additional loans and lines of credit
22
Three ways to save money when grocery shopping are...
only buy name brand products, bring a list and go just before dinner time.
buy EVERYTHING that is on sale, use coupons and buy in bulk.
buy no name brands, plan your meals around sale items and use coupons.
use coupons, buy no name brands and take a taxi home.
23
What were the two red flags Frank Abegnale talked about?
They always ask for in-person meetings and ID.
They offer free vacations with no strings attached.
They promise guaranteed investments with high returns.
Sense of urgency and Request personal info
24
What is the FTC
Has no authority over dark patterns
Encourages companies to use dark patterns
Designs dark patterns
Investigates and takes action against dark patterns
25
The envelope method of budgeting is where you hide money envelopes for later use.
True
False
26
3 components of a loan
interest, term, payment
term, principal, interest
principal, term, schedule
term, amount, schedule
27
What is the maximum percentage of your car payment to income rule
10%
25%
15%
40%
28
What is a credit report?
A report about signing up for a credit card.
A piece of junk mail.
A detailed report of an individual's credit history.
A summary of current events regarding credit.
29
Using car sharing is a cheaper alternative to owning a car
False
True
30
A pet fee, a pet deposit, and pet rent are the same thing.
True
False
31
Three credit reporting agencies?
Equifax, Experian, Trans Universal
Experian, Trans Unite, Equifoul
Equifax, Experian, Trans Union
Equifoul, Experian, Trans Union
32
What is a resume?
A daily planner used to schedule meetings.
A document that lists your education, work experience, and skills for jobs
A formal letter used to quit your job.
A list of your favorite hobbies and TV shows.
33
A whammy is an emergency expense.
False
True
34
What is a cover letter?
A form you fill out when applying for a loan.
A letter that introduces yourself and explains why you’re fit for a job.
A detailed list of your job skills and work history.
A letter sent to complain about a product or service.
35
What is one way ads influence people?
Providing accurate, unbiased news coverage.
Forcing people to purchase products against their will.
Encouraging critical thinking about consumerism.
Creating emotional connections with the audience.
36
What is an MLM?
A government-supported program for small businesses.
A regular retail store with multiple product levels.
A company where you earn money by recruiting others who also recruit people
A business where you earn money mainly by selling products to customers.
37
What are the four main ways to view your credit score?
Online, a free annual one, go the bank, 4-6 free ones
there are only 2 ways, Online or a professional at a bank
look online, ask your parents, guess, ask your employer
ask a friend, try to calculate it yourself, go to an ATM, ask your teacher
38
How much should you have for a down payment on a house?
10
50
20
15
39
Webpage development is a hard skill
True
False
40
Higher credit score is a non-monetary cost of identity theft.
True
False
41
What is a pyramid scheme?
A marketing strategy used by most retail stores.
An illegal scheme where participants earn money by recruiting others,
A business model where you make money primarily by selling real products.
A government-run program for building wealth.
42
What is phishing?
Cybersecurity tool
Secure file transfer
Scam where tricksters fish for personal information
How companies gather feedback
43
Zero budgeting is where you account for every cent.
True
False
