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Worksheetsfinancial literacy exam 1-5
Total questions: 42
Worksheet time: 43mins
the word Loan most nearly means :
the knowledge and skill set necessary to be an informed consumer and manage finances effectively
a debt evidence by a note which specifies the principal amount, interest rate and debt of repayment
all of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting, etc.
a person or organization that uses a product or service
debt means:
a fee paid by my a borrower to the lender for the use of borrowed money; typically interest is calculated as a percentage of the principal (original loan amount)
a system by which goods and services are produced and distributed
an obligation of payment owed by one party to a second party; in most cases this includes repayment of the original amount plus interest
the granting of a loan and the creation of debt; any form of deferred payment
financial literacy :
the knowledge and skill set necessary to be an informed consumer and manage finances effectively
the granting of a loan and the creation of debt; any form of deferred payment
a system by which goods and services are produced and distributed
a person or organization that uses a product or service
what is the granting of a loan and the creation of debt; any form of deferred payment
(a)
what is all of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting etc.
(a)
what is a fee paid by a borrower to the lender for the use of a borrowed money; typically interest is calculated as a percentage of the principal (original loan amount)
(a)
a system by which goods and services are produced and distributed is…
(a)
a person or organization that uses a product or service is …
(a)
interest paid on interest previously earned; credited daily, monthly, quarterly or semiannually
(a)
an account that generates income on the available balance in the account
(a)
five hundred dollars in readily available cash to be used only in the event of an emergency; the goal of the First Foundation
(a)
this is the five steps to financial success is ….
(a)
percentage pod to a lender for the use of borrowed money (i’m debt); percentage earned on invested principal (in investing)
(a)
the persistent increase in the cost of goods and service of the persistent decline in the purchasing power of money
(a)
saving money over time for a large purchase
(a)
occurs when money is withdrawn from a bank account and the available balance goes below zero
(a)
a cash flow that assigns an expense to every dollar of your income, wherein the total minus the total expenses equal zero
(a)
a written cash flow plan
(a)
to match your bank statement with your checkbook
(a)
a summary that shows total income and spending for a given time period
(a)
a copy of each check you write
(a)
series of envelopes that are divided into categories (food, entertainment, gas, etc.) and are used to store for planned monthly expenses
(a)
an item is bought with previous planning or consideration of the long-term effects
(a)
a detailed report of an individual’s credit history
(a)
preferred method of debts repayment; includes a list of all debts organized from smallest to largest balance; minimum payments are made to all debts except for the smallest, which is attacked with the largest possible payments
(a)
cost of borrowing money on an annual basis; takes into account the interest rate and other related fees on a loan
(a)
a decrease or loss in value
(a)
an interest rate charged to a customer during the early stages of a loan; the rate goes up after a specified period of time
(a)
an expense, such as a charitable contribution, that can be deducted from one’s taxable income
(a)
a measure of an individual’s credit risk; vacillated from a credit report using a standardized formula
(a)
type of card issued by a bank that allows users to finance a purchases
(a)
time frame that a loan agreement is in force, and before or at the end of which the loan should either be repaid or at the end of which the loan should either be repaid or renegotiated for another term
(a)
a yearly fee that’s charged by the credit card company for the convenience of the credit card
(a)
a form of federal or state financial aid that does not need to be repaid; usually given to students who demonstrate financial need
(a)
a type of higher learning school that focuses on job skill training for specific career fields rather than academic in liberal arts
(a)
a program that allows students to work part time while continuing their studies
(a)
a form of financial aid that does not need to be repaid; usually awarded on the basis of academic, athletic or other achievements
(a)
a undergraduate academic degree awarded by college upon completion of a course of study lasting two years
(a)
a money myth that portrays students loans as the only financial option when it comes to funding one’s college education
(a)
a developmental partnership through which one person shares knowledge, skills and perspective to foster the personal shares the personal and professional growth of someone else
(a)
a form that is completed annually by current and prospective college students to determine their eligibility for financial aid
(a)
name the five foundations
