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Financial Literacy Basics Flashcards | StudBud

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Financial Literacy Basics

8 terms·StudBud Administration·14 plays

Test your knowledge on fundamental financial concepts such as checking accounts, savings accounts, loans, and more.

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Questions 8

Answers

1
What is a savings account?
A type of bank account used for everyday expenses
A type of bank account where you save money for future use
A type of investment account
A type of loan account
2
What does NSF stand for?
National Security Fund
Non-Sufficient Funds
National Savings Fund
Non-Standard Fee
3
What is a beneficiary?
A person who writes a will
A person who manages an estate
A person who receives assets from a will
A person who witnesses a will
4
What is a checking account?
A type of loan account
A type of savings account
A type of investment account
A type of bank account used for everyday expenses
5
What does it mean to appreciate?
To increase in value over time
To decrease in value over time
To be a variable payment
To remain the same in value
6
What is a loan?
Money that you deposit into your account
Money that you earn from investments
Money that you borrow and agree to pay back with interest
Money that you save for future use
7
What does it mean to depreciate?
To remain the same in value
To be a fixed payment
To decrease in value over time
To increase in value over time
8
What is phishing?
A method of catching fish
A secure way to send emails
A type of computer virus
A scam to steal personal information via email