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Future Smart Modules 1-7 review Flashcards | StudBud
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Future Smart Modules 1-7 review
Future Smart Modules 1-7 review
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#financial literacy #grade8
Flashcards
30 cards
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Practice quiz
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Host live
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Questions
30
Answers
1
Which of the following IS NOT an example of a personal skill
I can type over 80 words per minute
I love the outdoors
I was an all-star shortstop in little league
I have five holes in one
2
Which factor has the biggest impact on a credit score?
Length of credit
Type of credit
Amount owed
Payment history
3
A benefit that a person could have received, but gave up, to take another course of action
opportunity gained
opportunity cost
opportunity expense
lack of opportunity
4
What is the first step you should take when opening a savings account?
Go to the bank and fill out an application
Make your initial deposit
Present your photo ID to the bank representative
Review the different account options at your bank
5
Someone with a professional degree can earn ____ times more than someone with a HS diploma
4
5
2
3
6
Which savings account will grow your money the most?
Interest rate 2%, Interest compounded daily
Interest rate 1%, Interest compounded annually
Interest rate 2%, Interest compounded semi-annually
Interest rate 1%, Interest compounded daily
7
Revenue is:
The amount of money a company pays its employees
The amount of taxes a company has to pay
The amount of money a company makes from sales
The amount of money a company has left after paying bills
8
A small piece of ownership in a company
Deposit
Stock
Bond
Mutual Fund
9
Once a budget is set, it should not be revisited
False
True
10
When deciding between two items, what should you take into consideration?
Any available discounts or sales
The quality of the product
The unit price
All of these
11
What is liability insurance used for?
All of these reasons are covered with liability insurance
repairing damage to your car because of storms or theft
repairing damage to other cars if you caused an accident
repairing damage to your own car if you are in an accident
12
Which school is the least expensive for a Pennsylvania resident?
Dickinson College
Messiah College
Penn State University
Florida State University
13
A fixed regular payment, typically paid on a monthly or biweekly basis
stipend
benefit
salary
wage
14
What increases your chances of a higher salary in the future?
College scholarships
Education and training
Internships
Benefits
15
Mr. Schmidt received five job offers in the last week. This is most likely because...
Supply and demand for teachers is the same
Supply for teachers is high
Demand for teachers is high
Demand for teachers is low
16
The amount you are personally required to pay before your insurance covers the cost
Deductible
Premium
Liability
Benefit
17
When comparing prices of two brands, it's helpful to know...
what is the top selling brand
the unit price of each item
what brand other people prefer
about any sales going on
18
Which of the following IS NOT a fixed expense?
Credit card payment
Renter's insurance
Rent payment
Student loans
19
Loans to a company or government
Deposit
Stock
Bond
Mutual Fund
20
The money comes directly from the user's bank account when performing a transaction with this
Debit card
Prepaid card
Direct deposit
Credit card
21
Why would the cost of milk increase from $3.00 to $3.50 over a year's time?
Deflation
The market basket
The stock market
Inflation
22
What is the first thing you should do when career planning?
Have a mock interview with a family member or friend
Apply for as many jobs as possible
Make a list of your job preferences and skills
Sign-up for an internship
23
A profit is when:
Revenue is equal to expenses
Revenue is less than expenses
Revenue is greater than expenses
None of these
24
The longer you use credit responsibly, the higher your credit score.
True
False
25
Why would the value of a stock increase?
All of these
The company is well-managed
There is a lot of demand for the product
The industry is growing
26
In order to avoid credit card interest, one should...
Pay the full balance each month
Skip payments
Pay the minimum balance
Make the payments online
27
Depositing money into your savings account each month will help you...
pay off your debits
lower your interest rate
increase the amount of interest you earn on your savings
decrease the amount of interest you earn on your savings
28
Which of the following would be considered a want for most people?
Designer jeans
Mortgage payment
Groceries
Car payment
29
The physical place where stocks are traded
Stock Broker
Stock Exchange
Stock Interchange
Stocking
30
Used to fund government services such as health care, national defense, and scientific programs
Federal Income Tax
Medicare
State Income Tax
Social Security
