Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
RLC Financial Lit
FBLA Financial Literacy Test #1 RLC
| Question | Answer |
|---|---|
| Retirement planning should ideally begin _____. | When the first paycheck is received. |
| The practice of pressuring consumers to buy a more expensive product than what they had intended is called: | Trading up |
| A type of financial fraud in which people pay to join an organization in exchange for the right to sell memberships to others is called a: | Pyramid scheme |
| On-the-job training is an example of: | Informal Education |
| If an hourly worker makes $15.00 per hour and earns time and a half for overtime, how much is the per hour pay for overtime if the employee works 40 regular hours and 6 overtime hours? | $22.50 |
| Taxable income is used to compute: | Income tax |
| The purpose of is Form W-4 is to _____. | To allow the employer to withhold federal income taxes from an employee's wages. |
| When preparing a budget, you need to focus mostly on your: | Disposable Income |
| A person's _____ is a measure of the amount of money coming in versus the amount going out. | Cash flow |
| Which one of the following would be a monthly fixed expense for budgeting purposes? | Magazine Subscription |
| A budget that shows a surplus means that _____. | less was spent than what was earned |
| The time value of money refers to: | Increases in an amount of money as a result of interest |
| Setting funds aside for long-term goals is______. | Investing |
| Stocks in young, often small corporations that have higher overall risk than stocks of successful, long-established companies are called: | Emerging Stocks |
| The total interest earned on $100 for three years at 10% (compounded annually) would be roughly: | $21 |
| An increase in the value of a stock over time is called a(n): | Capital Gain |
| You must file your tax return by this date every year. | April 15 |
| Items purchased on the spur of the moment is referred to as_____. | Impulse Buying |
| Which one of the following would be a reliable research tool for purchasing a dishwasher? | Consumer Reports |
| This form of insurance provides protection against losses from injury to people or property resulting from the products, services, or actions of a business? | Liability Insurance |
| A general rise in the level of prices for goods and services over time is referred to as _____. | Inflation. |
| Which one of the following will likely result in lower insurance costs? | Buy more than one type of insurance from the same company. |
| A(n)_____should be asked for by your bank if a check is lost or stolen. | a stop payment order |
| Which one of the following are checks for which you pay in advance and, if they are lost or stolen, the company from whom you bought these checks will replace them? | canceled checks |
| Whether you have the financial ability to repay your debt goes toward determining this "C" of credit: | Capacity |
| Exercising good credit management means: | following an individual plan for using credit wisely |
| The 25 day time period in which new credit card purchases can be paid off when there is no previous balance, without being charged interest is the_____. | Grace Period |
| The agencies who provide free credit reports for consumers are: | Equifax, TransUnion, Experian |
| Chapter 7 bankruptcy relieves an individual from debts arsing from_____. | Consumer credit debt |
| The unpaid portion of a loan is called: | Principal |
Created by:
meg_powell_
Popular Finance sets