WorksheetsFinancial Literacy Ch 4 Vocabulary Review
Total questions: 30
Worksheet time: 15mins
Name
Class
Date
1.
Things needed for survival, such as food, water, clothing, shelter, and medical care.
a)
needs
b)
wants
c)
assets
d)
liabilities
2.
Things people desire for reasons beyond survival and basic comfort.
a)
needs
b)
wants
c)
assets
d)
liabilities
3.
Money and items of value that you own.
a)
needs
b)
wants
c)
assets
d)
liabilities
4.
Debts that you owe.
a)
needs
b)
wants
c)
assets
d)
liabilities
5.
Money or other items of value that are used to acquire goods and services.
a)
financial resources
b)
cash inflows
c)
cash outflows
d)
net worth
6.
Income from your job, investments, and other sources.
a)
financial resources
b)
cash inflows
c)
cash outflows
d)
net worth
7.
Expenses, or items for which you must spend money.
a)
financial resources
b)
cash inflows
c)
cash outflows
d)
net worth
8.
The difference between your assets and liabilities.
a)
financial resources
b)
cash inflows
c)
cash outflows
d)
net worth
9.
Giving up one option in exchange for another.
a)
trade-off
b)
cash inflows
c)
cash outflows
d)
opportunity cost
10.
The value of your next best option—what you are giving up.
a)
trade-off
b)
cash inflows
c)
cash outflows
d)
opportunity cost
11.
A spending and saving plan based on expected income and expenses.
a)
budget
b)
fixed expenses
c)
variable expenses
d)
charitable giving
12.
Costs that do not change each month.
a)
budget
b)
fixed expenses
c)
variable expenses
d)
charitable giving
13.
Costs that can go up and down each month.
a)
budget
b)
fixed expenses
c)
variable expenses
d)
charitable giving
14.
The act of donating money or time to a cause in which you believe.
a)
budget
b)
fixed expenses
c)
variable expenses
d)
charitable giving
15.
The differences between planned amounts and actual amounts.
a)
variances
b)
manual records
c)
electronic records
d)
encryption
16.
Information recorded in hard-copy format using pen and paper.
a)
variances
b)
manual records
c)
electronic records
d)
encryption
17.
Soft-copy formats of your financial information stored on your computer.
a)
variances
b)
manual records
c)
electronic records
d)
encryption
18.
The process of converting data to a coded form.
a)
spreadsheet software
b)
manual records
c)
electronic records
d)
encryption
19.
A computer program that allows you to insert numbers and formulas to compute amounts and then easily change them later as needed.
a)
spreadsheet software
b)
manual records
c)
electronic records
d)
encryption
20.
A set of personal and financial goals, along with steps and a timeline for reaching them.
a)
financial plan
b)
benchmarks
c)
personal goals
d)
financial goals
21.
Standards against which progress is measured.
a)
financial plan
b)
benchmarks
c)
personal goals
d)
financial goals
22.
Things you want to achieve in your life.
a)
financial plan
b)
benchmarks
c)
personal goals
d)
financial goals
23.
Plans for how you will pay for your personal goals.
a)
financial plan
b)
benchmarks
c)
personal goals
d)
financial goals
24.
Things you expect to achieve within one week to one year.
a)
short-term goals
b)
long-term goals
c)
intermediate goals
d)
timeline
25.
Things you wish to achieve in the next two to five years.
a)
short-term goals
b)
long-term goals
c)
intermediate goals
d)
timeline
26.
Things you want to achieve more than five years from now.
a)
short-term goals
b)
long-term goals
c)
intermediate goals
d)
timeline
27.
A visual display of how long it will take to achieve each phase of a plan.
a)
short-term goals
b)
long-term goals
c)
intermediate goals
d)
timeline
28.
A professional consultant who provides financial advice.
a)
financial planner
b)
phishing
c)
identity theft
d)
benchmarks
29.
A common Internet scam that uses email messages to deceive you into disclosing personal information.
a)
financial planner
b)
phishing
c)
identity theft
d)
benchmarks
30.
The use of your personal information by someone else without permission to commit fraud or other crimes.
a)
financial planner
b)
phishing
c)
identity theft
d)
benchmarks
100 %
