Financial Literacy Course Review

What is the main form of payment on campus?

• flashcard

• cash

• credit card

• splashcash

Which location does NOT accept meal swipes as a form of payment?

• Eastway

• DI Hub

• Starbucks

Answer explanation

Starbucks accepts declining balance or debit card, NOT meal swipes.

What is the definition of a want?

• something you cannot live without

• something that you can live without, things that make life fun/enjoyable

• something that you use to brush your teeth

A need is something that makes life fun/enjoyable.

• true

• false

Answer explanation

A need is something that you cannot live without.

Which is NOT a type of insurance that we discussed in this class?

• pet insurance

• car insurance

• health insurance

• grocery insurance

• travel insurance

Car insurance is required if you own or drive a car.

• true

• false

Answer explanation

Car insurance is the only type of insurance that is required.

Taylor booked a flight to go on vacation four months ago, but the morning of her flight she woke up sick and cannot go on her vacation. What type of insurance could help Taylor get the money back for her flight?

• travel insurance

• pet insurance

• health insurance

• car insurance

Answer explanation

If Taylor bought travel insurance when she booked her flight, then she may get her money back for not being able to go.

What is the definition of a right?

• the result of your decision

• what are you expected or obligated to do

• something that is due to a person by law

• the opposite of left

Answer explanation

An example of a financial right is the right to own a credit or debit card.

What is the definition of an advertisement?

• the type of insurance that covers medical costs

• media that businesses use to promote products or services

• the process of setting money aside for the future

When using a debit card, you will receive a monthly bill.

• true

• false

Answer explanation

When paying with a debit card, the money automatically comes out of your bank account.