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Financial Literacy RMS 2016 Flashcards | StudBud
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Financial Literacy RMS 2016
Financial Literacy RMS 2016
25 terms
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StudBud Administration
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316 plays
review of financial literacy vocab and concepts
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
Which individual expense is going to be the biggest percentage of this monthly budget?
medical costs
a Bentley
housing
total monthly expenses
2
If you are finding a total bill with tip, your answer should be_____ your original.
much less than
a little less than
much more than
a little more than
3
The best part about Thanksgiving is...
Raking leaves
Doing the dishes
Mashed Potatoes
Turkey
4
A budget question that asks "How much?" will almost always be answered with a
another question
percent amount %
yes OR no
$ dollar amount
5
A discount or % off will make your original amount...
bigger
dollars AND cents
run away
smaller
6
Which is a fixed expense for the Perez family?
Transportation
Clothing
Mortgage
Food
7
Which is the largest variable expense?
transportation
childcare
food
housing
8
When you calculate the total WITH tip, your answer is _____ your original amount.
more than
equal to
less than
double
9
a VARIABLE expense...
happens each month but changes based on your choices
doesnt happen very often
are too expensive
stays the same every month
10
Fixed expenses...
dont happen every month
happen every month but dont change
change AND happen every month
change every month
11
If you are just finding tip, your answer should be ____ your original.
much more than
a little less than
much less than
more than
12
which of the following is NOT a fixed expense?
Taxes
Mortgage
Clothing
Savings
13
What percentage do the Perez family spend on their mortgage?
$30
30%
$960
$240
14
A ____ is a plan for how you spend your money.
liability
asset
financial literacy
budget
15
A strip diagram can be used for...
Estimation
Checking your answer
problems that DON'T involve percents
Setting up a proportion
16
which is NOT a fixed expense?
insurance
food
car payment
savings
17
an example of a variable expense is...
savings
x
entertainment
credit card payment
18
which one of these is a FIXED expense?
gas
rent
entertainment
clothing
19
Which is the smallest fixed expense?
medical costs
food
childcare
housing
20
An example of an asset is...
Mortgage
Credit Card debt
Fixed expense
Savings
21
Does more money go to fixed or variable expenses?
Variable
Fixed
22
Which of these is NOT a variable expense?
utilities (water, electricity, etc)
insurance (car, house, health, etc)
mortgage
transportation (gas, car, plane travel)
23
If you know how much you make in a month, how do you find how much you make in a year?
divide by 160
divide by 12
multiply by 12
multiply by 4
24
If you are finding just tax, your answer should be_____ your original.
much less than
a little less than
much more than
a little more than
25
An example of a liability is...
Car Loan
Checking Account
Car
Savings Account
