Financial Literacy Flashcard

Financial Literacy Flashcard

Assessment

Flashcard

Professional Development

University

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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74 questions

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1.

FLASHCARD QUESTION

Front

What is financial literacy?

Back

Understanding and managing personal finances

2.

FLASHCARD QUESTION

Front

Why is financial literacy important?

Back

It helps in understanding tax laws, promotes better financial decision-making, and reduces dependency on others.

3.

FLASHCARD QUESTION

Front

Which term is associated with access to financial services for all?

Back

Financial inclusion

4.

FLASHCARD QUESTION

Front

What is the primary purpose of financial literacy?

Back

To safeguard individuals from financial frauds and scams

5.

FLASHCARD QUESTION

Front

The concept of financial inclusion became prominent during which period? Industrial Revolution, The Great Depression, The Cold War, World War II

Back

The Great Depression

6.

FLASHCARD QUESTION

Front

Which of the following is NOT a component of financial literacy? Emergency funds, Retirement funds, Insurance, Learning to cook

Back

Learning to cook

7.

FLASHCARD QUESTION

Front

One of the key challenges of financial literacy is: Lack of financial resources, Lack of financial education, Increased taxation, High interest rates

Back

Lack of financial education

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