Financial Literacy FINAL EXAM REVIEW Short Version

Front

The amount you pay for an insurance policy.

Back

Premium

Front

If you have a positive net worth, your liabilities total...

Back

less than your assets

Front

Your net worth is your ________ minus your ________

Back

assets; liabilities

Front

What is something you already own (positive cash value)?

Back

asset

Front

What is debts you owe (negative cash value)?

Back

liabilities

Front

MONEY IN A SAVINGS ACCOUNT

Back

asset

Front

CAR LOAN

Back

liability

Front

CREDIT CARD BILL

Back

liability

Front

A revolving credit account means --

Back

you can use it over and over again

Front

HOME VALUE

Back

asset