PREP 2023 Spring MIDTERM 2 Listening CLASS 1&2

What is the main focus of the lecture? 

• Traveling to exotic places 

• Getting married and having a family 

• Strategies for having a strong financial future

• Economic hopes and dreams

• Secure lifestyle 

What is the FIRST strategy mentioned in the lecture?

• Saving for emergencies 

• Investing in the stock market 

• Completing a college degree

• Paying off credit card debt 

• Saving for retirement

According to the lecture, how much more can a person with a bachelor's degree earn compared to someone with only a high school education?

• Less than half

• Ten times as much

• Nearly half 

• Three times as much 

• Twice as much 

What is the lifetime earning DIFFERENCE between a person with a bachelor's degree and someone with only a high school education?

• $500,000

• $900,000

• $1 million

• $1.2 million 

• $1.1 million 

What is the SECOND financial strategy mentioned in the lecture? 

• Save for retirement

• Invest some of your money 

• Get a college degree 

• Be careful with credit cards 

• Prepare for emergencies

What is the average credit card debt for a person in the US? 

• $6000 

• $1000

• $8000 

• $10,000

• $15,000 

What is the annual interest rate mentioned in the example for credit card debt? 

• 10%

• 15% 

• 20% 

• 22%

• 25% 

What is the purpose of establishing a special emergency account? 

• To have money for traveling to exotic places 

• To invest in the stock market regularly 

• To have money to cover your unexpected needs 

• To pay off your credit card debt 

• To save money for movies or other activities

In order to establish an emergency account, you should ___________________ . 

• save money for your bills 

• pay off your credit card debt 

• invest in the stock market

• put some money in a low-risk fund

• deposit a certain amount regularly

What is the FOURTH strategy mentioned in the lecture?

• Investing in real estate 

• Saving money in a low-interest account

• Saving for emergencies

• Investing some of your money

• Getting a college degree