Financial Literacy Unit Final Exam

Anything you spend money on is known as?

• An investment

• A shopping spree

• Debt

• An expense

An expense that costs the same amount every month is?

• Variable expense

• Fixed expense

• Periodic expense

• Discretionary expense

Most people keep their money in a _______ to keep it safe.

• Mattress

• Backpack

• shoe

• bank

When you spend more money than you have in your account the bank will charge you a fee for ?

• Being thrifty

• Having insufficient funds

• Buying shoes

• Using your credit card

Owing people or companies money is known as ?

• Investing

• Savings

• Debt

• Credit

When someone regularly doesn’t have enough money and needs to wait until they get paid again to buy things, they are considered ?

• On the edge

• Extremely frugal

• Living paycheck to paycheck

• A good risk

Long-Term care insurance covers?

• When your house burns down

• When someone else has been negligent

• When you need to stay in a nursing home

• When your apartment is robbed.

When you are injured and can no longer work you need?

• Disability Insurance

• Life Insurance

• Liability Insurance

• Catastrophic Insurance

When a company or bank pays for something for you, and you agree to pay them back, you are buying that thing on ?

• credit

• faith

• a gift card

• A debit card

You can spend as much money as you want on a credit card, there is no limit.

• True

• False