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Financial Literacy - What do you know? Flashcards | StudBud

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Financial Literacy - What do you know?

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Questions 10

Answers

1
Tom used his debit card and spent $80... But only had $20 in his bank account, so he was charged _________.
an overdraft fee
an override fee
an interest fee
2
Which of the following is NOT a type of investment,
Mortgage
Certificate of Deposit (CD)
Savings bond
Real estate
3
When paying taxes in the more money you make...
The more taxes you pay
The less taxes you pay
Doesn’t make a difference, everyone pays the same
4
Paying cash for items builds credit
False
True
5
What is a loan?
A fee for maintaining a bank account
cashMoney you borrow but must also repay
The cost of borrowing money
Something valuable that you own and can sell for cash
6
Hudson bought toilet paper with his debit card. That money gets pulled from his ________.
savings account
couch cushions
credit history
checking account
7
What is a plan for how you spend your money?
401 K
Sales Tax
budget
Deposit
8
Which of the following are NOT mandatory paycheck tax deductions
Medical insurance
Social Security tax
Medicare tax
9
What does your credit score measure?
The amount of money you have in the bank
The risk of your not repaying debt
Your income level
Your financial success
10
If you use a credit card, you should
Be able to buy anything you want
Pay the full balance of the card every month
Pay the minimum payment each month
Never pay the bill