Financial Literacy Unit - FeFe

Question 1

Which is NOT a benefit of a spending plan?

Accepted Answer

Encourage over spending

Question 2

SMART goals help achieve goals because they are specific.

Accepted Answer

True

Question 3

PYF is ...

Accepted Answer

Pay Yourself First

Question 4

Transferable skills are acquired throughout experiences.

Accepted Answer

True

Question 5

How much should be in savings to be financially secure?

Accepted Answer

At least 6 months of expenses

Question 6

Bouncing a check means you wrote a check for more than in your account.

Accepted Answer

True

Question 7

You should memorize your PIN and keep it in your wallet.

Accepted Answer

False

Question 8

You do not pay the required amount by the due date you are charged ...

Accepted Answer

Late payment fee

Question 9

What is income?

Accepted Answer

Money earned

Question 10

You should report a stolen or lost debit card ASAP.

Accepted Answer

True

Question 11

Keeping a record of money can help you avoid bouncing a check.

Accepted Answer

True

Question 12

Credit is goods, services, or money received in exchange for a promise to pay back.

Accepted Answer

True

Question 13

Which is the safest method to save money?

Accepted Answer

Accounts with depository institutions

Question 14

What is a goal?

Accepted Answer

End result of something a person intends to reach

Question 15

Credit card holder can avoid paying interest by paying bill in full.

Accepted Answer

True

Question 16

People use a credit card for all EXCEPT ...

Accepted Answer

Earn large amount of interest

Question 17

What is a value?

Accepted Answer

Fundamental belief of what is desired or important

Question 18

Electronic banking does not allow ...

Accepted Answer

Face to face interaction

Question 19

Insurance protects you from risk.

Accepted Answer

True

Question 20

Human capital is the process of self investment.

Accepted Answer

True

Question 21

Monthly statements are a report that lists each months monetary transactions.

Accepted Answer

True

Question 22

What is the most common type of depository institution?

Accepted Answer

Commercial Bank

Question 23

Transferable skills can only be applied to one job.

Accepted Answer

False

Question 24

Routine decisions can become a habit.

Accepted Answer

True

Question 25

Which account had potential to earn the most interest?

Accepted Answer

Certificate of Deposit (CD)

Question 26

Which describes a career?

Accepted Answer

Building skills and knowledge throughout life

Question 27

What is the definition of a major decision?

Accepted Answer

Choices with long-term effect on someone

Question 28

What is an expense?

Accepted Answer

Money spent

Question 29

What does it mean to reconcile an account?

Accepted Answer

Balance checkbook register each month to the statement

Question 30

SMART is Specific, Measurable, Attainable, Time Bound

Accepted Answer

True

Question 31

Define impulse buying.

Accepted Answer

Unplanned buying

Question 32

Which does not describe both routine and major decisions?

Accepted Answer

Can be made without thinking

Financial Literacy Unit - FeFe

Questions 32

Financial Literacy Unit - FeFe

Questions 32