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Exam (elaborations)

GEB 3006 Financial Literacy Exam Prep | 2026/2027 Study Guide & Key Concepts

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Ace the GEB 3006 Financial Literacy Exam with our 2026/2027 comprehensive study guide. Includes essential concepts, practice questions, and expert strategies to strengthen financial knowledge and boost exam performance.

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Uploaded on
November 27, 2025
Number of pages
28
Written in
2025/2026
Type
Exam (elaborations)
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Questions & answers

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Terms in this set (166)


N shaped.
Which of the following is
NOT an example of an
economic recovery
"curve"?

L shaped.
Which type of economic
recovery curve would be
the WORST in terms of the
impact on the economy?

Fiscal.
Congress passing a trillion
dollar stimulus package to
combat the COVID 19 virus
would be an example of
______ policy.


Monetary.
The Federal Reserve
actions to decrease the
federal funds target rate
and to provide liquidity to
the credit markets during
the COVID 19 crisis is an
example of ______ policy.


It was caused by actions taken by government to shut
The COVID 19 economic down the economy to protect public health.
crisis DIFFERS from the
global financial crisis of
2008 because:

Much more quickly than compared to the Global
Actions taken by the Financial Crisis.
Congress and Federal
Reserve to combat the
COVID 19 crisis were
accomplished:


Great Depression of 1930s worst, followed by Covid 19
Which of the following is Crisis of 2020, followed by Global Financial Crisis of
correct with respect to the 2008.
most severe economic
crisis (listed first) to the
least severe economic
crisis (listed last)?

, Much faster than we saw in the Global Financial Crisis
The increase in of 2008.
unemployment rates
caused by the COVID 19
crisis was:

10%, 2022.

See the UCF Florida Metro
Forecast PDF file in the
modules.
The unemployment rate in
Florida is expected to rise
over _____ by the fourth
quarter of 2020 and should
fall back to a normal 3.9%
by ____.



767,000.
See the UCF Florida Metro
Forecast PDF file in the
modules.
Florida payroll job losses
will approximate
__________ in Q1 and Q4
of 2020.

Professional and business services.
See the UCF Florida Metro
Forecast PDF file in the
modules.
The Florida sector that is
expected to have the
largest job losses in 2020
is ____________.


Advent Health.

See the UCF Florida Metro
Forecast PDF file in the
modules.
With respect to the
Orlando, Kissimmee, and
Sanford MSA, which
employer is the SECOND
largest employer in the
region?



$142,716.96

If it cost $50,000 to attend
a public university today,
what would it cost to attend

, $1,466.53
What is the present value
of $6,700 received 14
years from now using a
11% interest or discount
rate, with interest
compounded quarterly?


$2,349.30
What is the future value of
$10.00 (ten dollars)
deposited at the end of
each week for 4 years
earning 6% interest?


$20,627.73
What is the present value
of $125 deposited at the
end of each month for 20
years earning 4% interest?

$828.31
What is the monthly house
payment on a 30 year
$150,000 mortgage at
5.25% annual interest?

89

If you have $10,000 today,
and save $2,200 per month
at the end of the month
while earning an annual
interest rate of 5%, how
many months would it take
to accumulate $250,000?



$18,922.69 of principal; $16,453.43 of interest; balance
due $213,491.61
Assume the following
information for a home
mortgage:
Original loan amount =
$250,000 Annual interest
rate = 7.35% Term of loan
= 10 years
For year two, how much
interest and principal was
paid, and what is the
balance due at the end of
year two?

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