Credit
Investments
Budgeting
Saving
Consumerism
100
APR stands for ... and it means ...
Annual Percentage Rate is the annual cost of credit expressed as a percentage of the amount borrowed.
100
Finish this phrase: "The greater the financial risk, the greater the ... "
"The greater the financial risk, the greater the reward"
100
What are the three basic parts of a budget?
Income, expenses, and balance.
100
What is a surplus?
A surplus is when you have more income than expenses.
100
What piece of legislation protects consumers' rights and interests?
The consumer bill of rights
200
The most common source of credit today is a
Credit Card
200
Which investment is more risky: stocks or bonds? Why?
Stocks are much riskier as there is no guarantee that you will make back the money you have invested to a company, whereas, bonds are less risky since the only risk you carry is the risk of lending money and not being repaid.
200
To comparison shop, you need to ...
Read through advertisements on social media sites
Visit different stores
Ask your friends for recommendations and see about their experiences and how much they have made for product(s)
200
What is a deficit?
A deficit is when your expenses exceed your income.
200
What is the difference between discretionary and disposable income?
Disposable income is the money available to you after income taxes have been deducted, whereas discretionary income is reserved for non-essential and the funds you utilized to pay for vacations, eating out. clothes, etc.
300
How is a credit rating calculated?
Payment history
300
What is a dividend? And which type of financial investment is connected to a dividend?
A dividend is a portion of a company’s earnings paid to shareholders based on the number of stocks they hold.
300
True/False: A budget is a monthly record that tracks only money you earn
False
300
What is the difference between a savings account and a checking account?
A savings account is where you save money and allow it to grow through interest, while a checking account is where your direct deposit sits and what you utilize to pay your monthly bills and expenses.
300
Which U.S. president proposed that consumer rights be recognized?
John F. Kennedy
400
The fee charged for using a credit card is
interest
400
What message is the cartoonist suggesting about stock projections?
Stock projections are highly variable since the value of stocks is constantly changing.
400
What is the meaning of a balanced budget?
A balanced budget is when your income is equal to your expenses.
400
Which saving plan offers a higher interest rate: money market account and a certificate of deposit?
Certificate of Deposit
400
True/False: A generic product is an expensive, name-brand item.
False
500
How do people get into a perpetual state of credit card debt?
Not repaying their credit card bill on time
Only paying the minimum balance of their bill
Borrowing more than they would be able to repay
500
Order the following investments from 1 (lowest risk) - 5 (highest risk):
Checking account, bonds, savings account, stocks, and certificates of deposit
1. Savings account
2. Checking account
3. Certificates of Deposits (CDs)
4. Bonds
5. Stocks
500
What does it mean to pay yourself first? And why should we pay ourselves first?
"Pay yourself first" means that you should pay your own savings and investment accounts first. You are "paying" your future self by saving for your long-term needs and expenses.
It is important to "pay yourself first" because it builds your savings and allows for you to use your money wisely.
500
What is one factor you have to consider when you save?
How much do you spend on your everyday expenses?
What are your reasons for saving?
How much interest can your savings earn?
How much income do you earn now?
How much income do you expect to earn in the future?
500
The FDA oversees, food, drug and ...
medical devices