FIN LIT FINAL

Front

Which of the following statements is TRUE about the value of a college degree? Options: The value of a college degree has decreased over time., College graduates tend to earn more over their lifetime compared to those without a degree., A college degree is the only path to financial success., The cost of a college degree always outweighs its benefits., Employers prefer candidates with work experience over those with a college degree.

Back

College graduates tend to earn more over their lifetime compared to those without a degree.

Front

List the types of educational financial aid from MOST attractive to LEAST attractive.

Back

Grants/Scholarships, Work-study, Federal loans, Private loans

Front

A loan with a shorter term length will have __________ monthly payments, and you will pay __________ in total interest.

Back

higher, less

Front

What is a payday loan?

Back

A short-term, high-interest loan typically due on the borrower's next payday.

Front

Why might someone choose a community or regional bank over a large national bank?

Back

More personalized customer service

Front

How do most BNPL companies make money?

Back

They charge stores a fee when people use BNPL

Front

What is inflation?

Back

The overall rise in prices of goods and services over time

Front

What is an overdraft?

Back

When you spend more money than you have in your account

Front

What does Maslow's Hierarchy of Needs describe?

Back

The levels of human needs, from basic survival to self-fulfillment.

Front

What is the main characteristic of the money value known as "money avoidance"?

Back

Viewing money as negative and avoiding thinking about or dealing with it.