Financial Literacy Benchmark Review

This is an expert on buying and selling houses

A sinking fund approach to buying something means

Henry Ford and J.C. Penney did not believe in the use of credit.

What's the first Baby Step to Financial Peace?

Before throwing away any documents, you should

Dave says when it comes to money, the borrower becomes (this) to the lender

When something (such as a car) loses value, this is known as

What information does your credit report tell employers?

You should check your bank, credit, and store accounts this often

What is the most painful way of spending money?

Identity theft occurs by

Identity theft can happen to anyone regardless of your financial habits.

Which Baby Step is saving 3-6 months worth of expenses in your emergency fund?

A new car loses this much of its value in the first four years.

This is when you buy a piece of ownership in a company

A group of investors pool their money together to invest in

Earning interest on your interest is called

This is using someone's name to gain access to finances and other resources

"If it can go wrong, it will go wrong" is commonly known as

Your mortgage payment should be no more than ___% of your take-home pay

Your software should be turned onto automatic updates.

The average American's savings rate is

Investing in single stocks is

Murphy's Law is a prime example of why it's important to have

Dave says that cash advance, rent-to-own, and pawn services are

When investing, look for a fund that has a good track record of

The risk-return ratio says that typically

Why would someone steal your identity?

The major difference between saving and investing is

Which of the following is a risk to consider when investing?

Playing the lottery or other forms of gambling will make you rich.

Our grandparents thought debt was

When buying a home, Dave recommends putting at least ___% down

The #1 target of credit card companies is

You must have a credit card to rent a car.

You can get a good deal on a new car.

This is when someone tries to steal your information over a phone

The FTC recommends getting your free credit score by visiting

Diversification means

The availability of your money is called

Which of the following countries has the highest savings rate?

A PIN Number stands for

A widely held but mistaken belief is called a 

On average, you spend this much more when using a credit card.

Once your identity is stolen, thieves can use it to

This was the first charge card in the United States.

Rent-to-Own companies are a great way to purchase things.

In which type of account should your emergency fund be?

The average mutual fund invests in

This is when someone tries to steal your information over a computer