Assignments and Due Dates . Items have been randomly selected from the MBA Research Center’s Test-Item Bank and represent a variety of instructional areas. Saving. Start studying Financial Literacy. (1) When making a personal budget, which of the following is true? Financial Literacy can be defined as the ability to know how money works, how it is earned and spent, how it is invested to increase the capital, overall how it is managed. The lender benefits, because the interest compounded increa…, a.... Loan I's increase was 0.03 percentage points greater than L…, c.... Loan F's effective rate will be 0.302 percentage points low…, the ability to borrow money and pay it back later, usually wit…, person or business that loans the money to others, an account on which the account holder can charge repeatedly u…, a number that shows how likely a person is to pay back their l…, borrowing money and promising to pay it back later, the price paid for the use of borrowed money, a spending and savings plan based on expected income and expen…, fixed: the same every month ... variable: expenses that can change, difference between planned and actual income and spending amou…, favorable: to your advantage; went under budget... unfavorable: w…, A yearly fee that may be charged for having a credit card, ind…, The act of transferring debt from one credit card account to a…, A plastic card that allows you to make purchases now with borr…, A contract that outlines the terms and conditions for using yo…, something a person wants to have or to achieve, and is willing…, Goals that require a longer period to achieve (usually 2+ year…, goals that are not immediate and require a bit more time to ac…, a goal that requires a short period of time to achieve, legal agreements between two or more parties where each party…, What elements must be met in order for a contract to be legall…, something of value offered by one party in exchange for someth…. paying for college. In will give high potential reward, or high potential loss, It will give low potential reward or low potential loss, Account to provide an incentive to save money, Account where you use checks to withdraw money and some pay interest, A deposits you promise to leave in the bank for a specific amount of time in exchange for a higher rate of interest, These are middle to low investment option where people save money for retirement, Offered from an employer where they match funds put into the account, Type of investment which helps finance government or corporate debt or to support public construction projects, Pools money from many investors and uses it to buy variety of stocks bonds savings accounts and other investment opportunities from many different companies, Taxes in which people with higher incomes pay the same percentage of their income as people with lower incomes do, Taxes in which people with higher incomes pay a larger percentage of their income than people with lower incomes do, Tax rates that are like this increases as income increases, Taxes in which people with lower incomes pay a larger percentage of their income than people with higher incomes do, Extra sales tax on items such as alcohol and tobacco which is collected by the federal government, Ability to obtain goods and services now based on an agreement to pay for them later, Amount a person must pay every month for rest utilities transportation and so on, Amount a person usually spends on wants rather than needs, One who is willing and able to repay a loan, How well a person has managed bills and credit in the past, Credit plan in which you agree to a fixed amount per month for a specified number of month, Interest charged only on the original amount of loan, Interest charged not only on the original amount borrowed but on the existing amount owed including previously accrued interest, When applying for loans or credit cards make sure to compare interest rates form different institutions, A purchased product to protect oneself against risk specifically the financial losses associated with these risks, Insurance company assumes some liability for claim and you are liable to pay the insurance company, A written agreement between you and the insurance company, The maximum amount the company will pay you for your losses, The amount of loss you must pay yourself before the company will step in and pay the rest, Amount of money paid per month per quarter or year for insurance coverage, a type of insurance that covers any damage you may cause to another person or their vehicle, Financial protection form being sued for personal injuries to other people or property damage if you are driving a car involved in an accident, Insurance coverage for nay damage to your own car in an accident, Young people have higher rates than older people, Insurance that pays your medical bills when you are sick or injured. Looking for financial literacy basics? Checking Account - 11/24. Skip to content. Apply for a Loan Member Login. Credit Card Activity - 11/30. Budget Blast - 11/24. Unit 7: Personal Financial Literacy Chapter 20. By understanding these concepts, you should be able to make wise personal finance and business decisions regarding investments, real estate, college loans, retirement, and insurance. EVERFI's free high school financial literacy course helps students manage their personal finances, from applying for financial aid to establishing credit. Money, Personal Finance, Financial Literacy. If you don't see any interesting for you, use our search form on bottom ↓ . Financial Pitfalls. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Learn financial literacy unit 7 with free interactive flashcards. Day 3 - Credit and Credit Cards. Learn how to manage money with our financial literacy guide. It's free, and always will be! Managing Credit. Choose from 500 different sets of personal financial literacy flashcards on Quizlet. This is a broader test that measures their ability to earn money and manage their personal finances. Only purchases of $50 or more need to be planned b. protecting your credit. These 19 free financial literacy games for high school students add engagement and FUN to teaching personal finance. A commitment to work in a field that you find interesting and…, Personal views/ideas you think are important, A formal contract to repay borrowed money with interest at fix…, The action or process of investing money for profit or materia…, Fund that pools the savings of many individuals and invests th…, The student received a scholarship for his academic achievemen…, Given a grant, he was able to have financial assistance after…, Financial Aid is important for many high school seniors to hav…, This part-time job the college student has, has helped her hav…, A spending plan or a record of projected and actual income and…, A profession or field of employment for which one studies or t…. individual to have personal financial plan in ord er to meet their financial goals and obligation, help to retire in comfort, achieve financial freedom, make rational financial decisions and take - Lessons - Tes Teach Wise Financial Literacy Practice Test Flashcards | Quizlet At the center of our financial literacy initiatives is the Financial Literacy Certification program, a groundbreaking innovation in financial education for high school students. Memorize these 19 personal finance terms. It is important for students to understand how to use money wisely and keep track of their spending. Personal Financial Literacy Quizlet Chapter 1. 1. Then you'll profit from learning these personal finance terms. Financial literate is an individual who has the ability to make informed judgments and take effective decisions with regards to the use and management of the money. Paying for College. The cost ofthe loan. Plus, a built-in calendar, message center, and customizable curriculum features assure that your child learns personal finance skills at his own pace. Rates; Blog; 888.755.9773. Personal Financial Literacy. Personal finances have a huge impact on your future. 29. Navigating the countless financial services providers and understanding the benefits and risks of the choices available can be overwhelming. Day 1 - Budgeting. This list is bound to be a good investment. Personal Financial Literacy Teacher and Student Materials | Oklahoma State Department of Education EconedLink Financial Football App -Visa Banzai Classroom Economy My Money Five Finance in the classroom Mind Your Own Budget Simulation Game Personal Finance for High School by Pennsylvania Learns Hands on Banking Companies…, engage in collective barganing ... support poltical candudates an…, interest is:... a. a charge for lending mo…. Download everfi financial literacy quizlet module 6 document On this page you can read or download everfi financial literacy quizlet module 6 in PDF format. Use to evaluate the cost and benefit of a post high school path, A document listing all the income a person make each month and the expenses a person must pay each month, Corporations that stores deposits and makes loans in order to earn a profits, Not for profit financial instiution that is owned and controlled byu its members, usually people who work in the same company or the same occupation, Provide small loans in return for a portion of an upcoming paycheck, Provides short-term loans to individuals who use items like vehicles as collateral to secure their loan in case they can't repay the loan, Money deposits placed securely in a bank or other financial institution, so that the funds will be available for later use, the money you pay into something with the expectations but not guarantee of future rewards. Vocabulary by learning these words today these free online games provide the hooks to get students engaged in decision around... 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