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Examen
Financial Literacy: Retirement Planning Quiz And Answers.
Compounding - Answers-The concept of adding accumulated interest back to the principal so that interest is earned on interest from that moment on 
 
longevity - Answers-The average number of years left remaining at a given age 
 
tax deferred - Answers-An investment in which some or all taxes are paid at a future date rather than in the year the investment produces income 
 
life expectancy - Answers-The length of a person's life 
 
A loss of income can be caused by: - Answers-An accident 
A...
Examen
Financial Literacy – Credit Final Exam And Answers
Activate - Answers-To prevent fraud, many card issuers require you to call them when you receive your new card in the mail to verify that the correct person has received it. Until proper ownership is confirmed, the card may not be activated. 
 
Automatic Payment: - Answers-If you have a savings or checking account with the same bank that issues your card, you may be able to automatically transfer money from your bank account to pay a credit card bill. Automatic payment eliminates the risk of pay...
Examen
Personal Financial Literacy: Starting A Business Notes And Choices
Costs - Answers-The price paid to acquire, produce, or accomplish something. 
 
Entrepreneur - Answers-A person who takes a risk to create a new product or to develop a better way to operate a business. 
 
Profit - Answers-Revenue minus costs. 
 
Revenue - Answers-The income a business makes. 
 
Rewards - Answers-Something that causes or increases personal satisfaction. 
 
Risk - Answers-Something that causes the possibility of loss. 
 
An entrepreneur takes a risk to create a new product or dev...
Examen
Financial Literacy - Module 4 Pre Test And Answers.
Parents who want to assist in the financial matters of their adult children should always __________. - Answers-seek permission of their children 
 
If someone you care about is struggling financially, it is important for you to __________. - Answers-get him or her to ask for help 
 
When helping friends with financial matters, it is best to __________. Choose all that apply. - Answers-start with a conversation and setup boundaries 
 
Without getting permission to help or be helped, one should _...
Examen
Financial Literacy, Section 1 Enrichment 2 Quiz And Answers
What is the purpose of the second page of the W-4 form? - Answers-Deducting and adjusting certain credits and income 
 
What is the advantage to claiming fewer deductions on your W-4? - Answers-You many get a bigger refund at the end of the year 
 
If you claim yourself as a dependent, who else can generally claim you as a dependent? - Answers-No one else can generally claim you as a dependent 
 
Why is it important to memorize your Social Security number? - Answers-You will need it for school, ...
Examen
Financial Literacy Quarter 2 Test And Choices.
In case of Identity theft - Answers-Contact agencies, file reports, place fraud alerts on files, freeze funds 
 
Safe Identity - Answers-Practice safe internet use, check your credit report, be careful with your SSN, destroy records, secure your mail 
 
Chain money mails - Answers-Illegal everywhere in every way, don't do them 
 
Liquid Assets - Answers-Cash or investments easily converted into cash 
 
FDIC Insurance - Answers-Up to $250,000 per depositor 
 
APY - Answers-Annual percentage yi...
Examen
Financial Literacy 4 Questions And Answers
Consumers use many strategies to get consumers to purchase their products. Which of the following contains a term that is not a strategy we discussed in this unit? - Answers-framing and disposability 
 
A company's statement that indicates they can cure cancer without medical support is an example of which of the following? - Answers-deception 
 
Which of these is an example of a company's location strategy? - Answers-Nordstrom placing all of its cosmetics in the center of the store so you...
Examen
Financial Literacy Record Questions And Answers
Good money management is important for which of the following reasons? - Answers-all of the above 
 
Which of the following financial groups is subject to financial consequences? - Answers-all of the above 
 
What is the best definition of financial literacy? - Answers-knowing about money 
 
What is the main purpose for filing for bankruptcy? - Answers-to liquidate your assets in order to pay your debts 
 
A Chapter 7 bankruptcy involves which of the following? - Answers-You get a fresh start on...
Examen
Financial Literacy Test Review And Answers.
Which of the following is considered to be open-end credit? - Answers-department store charge cards 
 
When a person brings an item to a pawnshop to obtain cash, the transaction is considered - Answers-a collateralized loan 
 
New coins and currency make their way into the general economy, consumers and businesses, through the distribution system of the - Answers-Federal Reserve System 
 
One of the benefits of holding an investment for over a year rather than selling it in less than a year is t...
Examen
Financial Literacy 7 Exam And Answers
Which of the following is included in the list of five skills needed in the workplace? - Answers-being a team player 
being adaptable 
all of the above 
 
What is an important factor to consider for job satisfaction? - Answers-job criteria 
financial issues 
work culture 
A. all of the above 
 
What is the average amount of debt American households carry month to month? - Answers-$15,000 
 
What is an important financial issue to consider as you are choosing a career? - Answers-average starting ...
Examen
Financial Literacy - Part 3 Exercise And Answers
transunion, equifax, and experian - Answers-The credit industry has a database of credit information for over 180 million people. What companies would track and report this information? 
 
credit history and public records - Answers-what is included in the credit information database? 
 
Public Records - Answers-what are the major components of a credit history? 
 
payment history - Answers-of the 5 main criteria used to determine your credit score, which has the most influence over your score? ...
Examen
Financial Literacy, Section 1 Unit 2 Quiz And Answers
Which type of interest would accumulate the most interest? - Answers-Annual compound interest 
 
Lucas's monthly income is $1,450.00, and his monthly expenses are $987.46. What are his available funds? - Answers-$462.54 
 
Your employer pays an amount __________ to the amount you withhold for Social Security and Medicare. - Answers-Equal 
 
All the following are ways to save money EXCEPT: - Answers-Take out as many compound interest loans as possible 
 
If you have $400 in a bank account with...
Examen
Personal Financial Literacy Questions And Choices.
When choosing the right organization to be a part of, what information is important to check beforehand? - Answers-The "About" page on their website 
 
Their contact information and Tax ID Number 
 
Internet research and reviews 
 
Their financial information 
 
Accomplishments and track record 
 
The organization's transparency 
 
BUT NOT... 
 
What translation of the Bible they prefer 
 
or... 
 
Who they voted for in the last election 
 
When we grow in relationship with ___________...
Examen
Financial Literacy Vocabulary Assessment And Answers
Income Statement - Answers-a financial document that shows how much money (revenues) came in and how much money (expenses) was paid out 
 
Principal - Answers-The money originally invested or loaned, on which basis interest and returns are calculated 
 
Interest - Answers-a fixed charge for borrowing money; usually a percentage of the amount borrowed; "how much interest do you pay on your mortgage?" 
 
Simple interest - Answers-interest paid on the principal alone 
 
Compound interest - An...
Examen
Financial Literacy Quiz And Answers
non-income career factors - Answers-Elements of a profession that aren't related to the amount of money you can earn; instead, these aspects include job satisfaction, work-life balance, sense of purpose, company culture, and the acquisition of professional honors or prestige 
 
tuition - Answers-the expense paid by students for the instruction at a school 
 
non tuition expenses - Answers-The costs you pay for items other than your courses which are necessary for your education; these items i...
Examen
Financial Literacy Packet 2 Review 1+2 And Answers
Lenders determine your creditworthiness by all of the following EXCEPT: - Your grades in high school and/or college 
 
What information is shown on your FICO report? - Loan history 
 
If you identity is stolen, what are your first two steps? - Contact the correct agencies and fill out necessary reports 
 
How long can late payments and foreclosures stay on your FICO report? - Up to 7 years 
 
Which of the following does NOT help differentiate your credit report from others with the same name? - ...
Examen
Financial Literacy Notes Quizlet And Multiple Choices
What is an example of an investment that would require a lot of knowledge to successfully invest in. - Answers-Big companies 
 
Does a person with a short investment horizon have more or fewer investment options than someone with a long investment horizon. - Answers-More 
 
How can diversification reduce the risks of investing? - Answers-Because you know the difference between the things you invest 
 
What type of investments would be the least risky? - Answers-Land and real estate 
 
How are pr...
Examen
Financial Literacy Q2 And Answers
A living will - Answers-Directs others regarding your desires about life-sustaining medical interventions 
 
To provide directions about the life-sustaining medical intervention you want, you need to have - Answers-A living will 
 
A Power of attorney - Answers-Allows a person to manage your financial affairs if you are unable to do so 
 
A net worth statement should be developed - Answers-Annually 
 
The value of your total liabilities improves your credit rating as it rises - Answers-False 
 
...
Examen
Financial Literacy 6-10 Final Exercise With Answers.
Which of the following characteristics applies to the financial career of accountant? (Select all that apply.) - Answers-An accountant is a qualified professional. 
An accountant deals with financial records and reports. 
 
A financial planner is __________. - Answers-a qualified professional who helps individuals and businesses meet long-term financial goals 
 
A tax attorney is a qualified professional who is knowledgeable about tax law. - Answers-true 
 
Some people in the United States were ...
Examen
Financial Literacy Assessment And Answers
3. _____ The sales tax in Jefferson county is 9%. Johannes purchased a new pair of shoes at a retail price of $30.00. How much sales tax did he have to pay? - Answers-$2.70. 
 
4. What's the purpose of balancing or monitoring your checking account? - Answers-To help you calculate how much money you have in your account 
 
5. The best way to ensure the accuracy and safety of your accounts is to: - Answers-Monitor your online accounts regularly 
 
6. When it comes to investing, what is the typi...