Module 4 Quiz_Financial Literacy research project

The money that you keep after all costs and expenses are paid is called ...

• balance

• profit

• financial institution

Rent, insurance, car payment, and Netflix subscriptions are fixed expenses.

• True

• False

Which of the following is true about a budget? (Choose all that apply.)

• It can be opened at a bank or other financial institution

• A visual representation of 'wants versus needs'

• It has a set interest rate and time frame

• It is a financial projection

Profit equals (=) Income minus (-)

What is a major benefit of being a shareholder? (Choose all that apply.)

• You have input on the daily operations of the company

• You own stock(s) in a company

• You determine marketing strategies

• You can vote. (Voting rights in corporate elections)

What is a certificate of deposit?

• An investment

• A savings account

• A mutual fund

• A type of savings account with a fixed interest and time frame

What is the Rule of 72?

• A mathematical equation for predicting stock dividends

• An estimate for determining stock prices

• A mathematical principle that estimates the amount of time an investment will double in value

• Cost of shares divided by 72

Which of the following are examples of publicly traded companies such as Nike?

• Disney

• IKEA

• Trader Joe's

• AMC Entertainment

Which of the following describes a secured credit card? (Choose all that apply.)

• Card holder makes a security deposit equal to the credit limit of the credit card.

• It is a revolving charge

• One or all 3 major credit bureas receive notice of payment

• It is a rewards credit card where the card holder accumulates points

Which of the following is the definition of the economic term 'supply and demand?'

• The supply chain

• The lack of goods and services

• The manufacturing of goods and services

• The availability of goods and services and the desire and willingness to buy them