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Financial Literacy Quiz Flashcards | StudBud
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Financial Literacy Quiz
Financial Literacy Quiz
20 terms
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StudBud Administration
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#FinancialLiteracy
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
You need to pay full price for clothes in order to look good.
False
True
2
When do you need to start repaying your student loans?
3 months after graduation
1 year after graduation
Never
6 months after graduation
3
Where can you get a Free report of your credit score and credit history?
www.myfico.com
www.creditkarma.com
All of the above
www.myannualcreditreport.com
4
A card that allows you to make purchases before you have the cash:
preferred shopper's card
pre-paid card
debit card
credit card
5
Creating a list of monies coming in and monies going out to track monthly spending is:
savings
budgeting
pros & cons list
developing a way to spend more money
6
Your credit score doesn't make a difference when making large purchases. (ex. car, house)
False
True
7
This money personality type likes to have the best of everything or endulges in Retail Therapy:
Spenders
Savers
Investors
Gamblers
8
Family/Friend expectations can cause us to overspend.
True
False
9
What is FDIC?
Federally Damaged In Conspiracies
Federal Deposit Informal Companies
Formally Dictated Instagram Companies
Federal Deposit Insurance Corporation
10
Ways to save money or get money back on purchases include:
None of the above
smartphone apps (ex. Ibotta, Checkout 51, RetailMeNot)
Both A and B
coupons
11
Bad credit is when your score is:
Below 700
Below 650
Below 400
Below 600
12
What is the minimum recommended amount of money for your savings account?
$500
$15000
6 months of living expenses
$10
13
The Investor money personality:
Invests in all opportunities
Invests in "safe" investments to grow their money.
Invests in real estate
Invests in risky ventures
14
Higher interest rates are charged to people with Poor or Bad credit for credit cards and loans.
True
False
15
Gross pay is:
Don't know
money that smells funny.
the amount of money you receive after taxes.
the amount of money you make before taxes & other deductions
16
When you have good credit your score falls between:
700-749
600-649
700-800
600-700
17
The ability of an individual to obtain goods or services before payment.
Don't know
Credit
Borrowing
IOU
18
Financial Literacy is:
the ability to read complex financial statements
the ability to understand how money works
the ability to spend as much money as you want
Don't know
19
The type of account that you put money in to pay expenses using checks or debit cards is:
A checking account
Don't know
A savings account
A Money Market account
20
The money that you receive in your paycheck after deductions is called:
Gross Income
Investment Income
Other Income
Net Income