Test Financial Literacy ESP

Front

What is the main purpose of a credit score?

Back

to help lenders decide about lending you money

Front

What is a budget?

Back

spending plan

Front

An emergency fund is for unplanned expenses such as rent, insurance, medical expenses, groceries.

Back

medical expenses

Front

A card linked to your bank account, so the money you spend comes directly from your checking account.

Back

Debit

Front

What is a mortgage?

Back

A loan to buy a house.

Front

Which of the following is a red flag for a potential scam?
- Receiving a thank you note
- Being asked to provide personal information quickly
- Getting a reminder for an appointment
- Receiving a birthday card

Back

Being asked to provide personal information quickly

Front

What is the main difference between IRS forms W2 and 1099?

Back

W2 is for employees; 1099 is for independent contractors

Front

Which of the following taxes is based on the value of owned property, such as a house or land? Options: Income tax, Sales tax, Payroll tax, Property tax

Back

Property tax

Front

Money that is borrowed and expected to be paid back with interest

Back

Loan