Wise Remediation

(a)   is the cognitive understanding of financial components and skills such as budgeting, investing, borrowing, taxation and personal financial management.

What is the absence of financial literacy known as?

• Opportunity cost

• Financial illiteracy

• Scarcity

• Expense

What are sources of income? (Select all that apply)

• Wages

• Interest

• capital

• Profits

• Expenses

What is the degree of ease in which assets can be sold?

• Cost

• Expense

• Liquidity

• Price

What is the role of the treasury department?

• Collect taxes

• Monitor insider trading

• print money

• issue treasury bonds

The people that are least hurt by inflation are those who owe large amounts of money.

• True

• False

Match the following

• interest added to principal

• Credit Union

•  a feature offered by banks to keep your checking account from over-drafting

• Time value of money

• calculated by value of money with given amount of interest earned over a period of time

• Overdraft Protection

• member owned co-operative financial institution

• Compound Interest

• automatically route money from paycheck to savings (before paying bills).

• Pay Yourself First

When you make a choice, you often have to give up other options...those things are called the...

• Opportunity Cost

• Missed Opportunities

• Misused Resources

• Scarce Options

There is a 6 month grace period (after leaving school) before you start making student loan payments.

• True

• False

________ is a refund anticipation loan (RAL) is a short-term consumer loan secured by a taxpayer’s expected tax refund.

• Checking account

• Student Loan

• Tax Anticipation Loan

• CD