Financial Literacy Flashcard

Flashcard
•
Mathematics
•
12th Grade
•
Hard
Standards-aligned
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15 questions
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1.
FLASHCARD QUESTION
Front
What is the relationship between investment risk and potential returns?
Back
In general, investments that are riskier tend to provide higher returns over time than investments with less risk.
2.
FLASHCARD QUESTION
Front
What is a key restriction on withdrawing money from a 401(k)?
Back
Unless you are undergoing significant hardship, you cannot withdraw money from a 401(k) without penalty until you reach a certain age.
3.
FLASHCARD QUESTION
Front
What is the benefit of employer matching in a 401(k) plan?
Back
If you contribute up to 5% of your salary, the employer match is equivalent to a 100% return on your contribution.
4.
FLASHCARD QUESTION
Front
If both income and prices double, what happens to purchasing power?
Back
You will be able to buy the same amount as today.
Tags
CCSS.7.RP.A.2C
5.
FLASHCARD QUESTION
Front
How does diversification affect investment safety?
Back
Usually, investing in a fund which invests in shares of many companies in different industries is safer than investing in shares of a single company.
6.
FLASHCARD QUESTION
Front
What is the definition of financial literacy?
Back
Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.
7.
FLASHCARD QUESTION
Front
What is a 401(k) plan?
Back
A 401(k) plan is a tax-advantaged retirement savings account offered by many employers that allows employees to save and invest a portion of their paycheck before taxes are taken out.
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