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Exam (elaborations)

Quantitative Literacy Exam Review Questions and Answers

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Quantitative Literacy Exam Review Questions and Answers

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QUANTATIVE LITERACY
Course
QUANTATIVE LITERACY

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Quantitative Literacy Exam Review

budget - Answer-keeping track of how much money you have coming in and going out and then deciding
what adjustments you need to make



cash flow - Answer-subtracting your monthly expenses from your monthly income



Premium - Answer-The amount you pay to purchase the policy often paid once or twice a year



deductible - Answer-the amount you are personally responsible for before the insurance company will
pay anything



Co-payment - Answer-the amount you pay each time you use a particular service that is covered by the
insurance policy



Principal - Answer-the amount of money on which interest is paid



Simple Interest - Answer-interest paid only on your initial investment



Compound Interest - Answer-Interest that the bank pays you on the interest as well as on the original
principal



Annual Percentage Rate (APR) - Answer-Interest that is compounded annually



A - Answer-accumulated balance after Y years
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QUANTATIVE LITERACY
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QUANTATIVE LITERACY

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November 6, 2025
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  • quantitative literacy exam review questions and an
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