Wise Remediation

_____ 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

• member owned co-operative financial institution

• Pay Yourself First

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

• Overdraft Protection

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

• Credit Union

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

• Time value of money

• interest added to principal

• Compound Interest

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