Understanding Financial Literacy for Students

What is financial literacy primarily concerned with?

• Understanding how to invest in the stock market

• Understanding financial concepts like interest rates, student loans, credit scores, and budgeting

• Learning how to become a financial advisor

• Knowing how to avoid paying taxes

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DOK Level 2: Skill/Concept

Which of the following is a potential consequence of not understanding financial literacy concepts after college?

• Receiving a scholarship

• Going into unnecessary debt or student loan default

• Getting a high-paying job immediately

• Winning a financial award

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DOK Level 2: Skill/Concept

How many states require or are in the process of mandating a stand-alone personal financial course for high school graduation, according to the 2022 report?

• 10

• 15

• 20

• 25

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DOK Level 2: Skill/Concept

Which of the following best describes the term "financial wellness"?

• The ability to retire early

• The understanding and management of personal financial concepts

• The process of becoming a financial planner

• The act of saving money in a bank

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DOK Level 2: Skill/Concept

What role does Andrea Janssen hold at the University of Montana?

• Financial Advisor

• Interim Director of the Financial Education Program

• Professor of Economics

• Dean of Students

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DOK Level 2: Skill/Concept

Why is financial literacy important for college students?

• It helps them choose the right major

• It prepares them to manage their personal finances effectively

• It ensures they get a job after graduation

• It guarantees a high credit score

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DOK Level 2: Skill/Concept

What is one of the key components of financial literacy?

• Understanding how to cook

• Knowing how to calculate interest rates

• Learning a foreign language

• Mastering a musical instrument

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DOK Level 2: Skill/Concept

What is the primary focus of a stand-alone personal financial course in high school?

• Teaching advanced calculus

• Educating students on personal financial management

• Preparing students for college entrance exams

• Training students in physical education

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DOK Level 2: Skill/Concept

Which of the following is NOT typically included in financial literacy education?

• Budgeting

• Credit scores

• Cooking recipes

• Student loans

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DOK Level 2: Skill/Concept

What is a potential benefit of being financially literate?

• Increased likelihood of winning the lottery

• Better management of personal finances

• Guaranteed admission to any college

• Automatic approval for any loan

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DOK Level 2: Skill/Concept