Personal Finance review

A credit card is the same thing as a debit card.

• True

• False

The amount of money I was loaned is $1,000 and the interest rate is 15%. What is the total of the loan?

• $150

• $1,150

• $1,015

• $15

The component that has the most impact on your credit is...

• Types of Credit Used

• Amounts Owed

• Length of Credit History

• Payment History

An ________ _________ is what it costs to use money that is loaned to you.

(a)  

How big should your emergency fund be?

• 1-2 months of your annual salary

• 3-6 years of your annual salary

• 3-6 months of living expenses

• 1-2 years of living expenses

What is a savings tool with a fixed intrest rate and maturity date?

• Checking Account

• Certificate of Deposit (CD)

• Money Market Account

• Savings Account

Which type of account has a maturity date?

• Certificate of Deposit (CD)

• Savings Account

• Checking Account

• Money Market Account

The FDIC insures deposits up to $ (a)   for EACH account opened in an FDIC Insured Depository Institution. NOT the sum of the balances of the accounts.

The knowledge and skillset necessary to be an informed consumer and manage finances effectively

• Interest
• Budget
• Financial Literacy
• Personal Finance

All of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting, etc.

• Personal Finance
• Financial Literacy
• Budget
• Banking