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Ayla is considering her options after high school, which is a good choice for uncertain futures?
Take a gap year.
What is a primary consideration for Doug when choosing technical school over a 4-year university?
Many trades are higher in demand than degrees from universities.
What should Jasmine consider when planning to become a paralegal?
The costs and benefits in relation to her time, career, and earning potential.
Income before taxes and deductions is known as?
Gross income.
What are health insurance coverage and Social Security tax categorized as?
Deductions.
What is most likely Gianna's situation during Covid-19?
Earn less money temporarily.
What tax system does Ralph and Vivana’s situation exemplify?
Regressive tax system.
If Dominika needs to cut her budget, what is the best category to cut from?
Hobbies and clothing.
It is important to consider warranties when purchasing a?
Durable good.
What is the motive behind a furniture store advertising monthly payments for a patio set?
To make it look like a deal.
Which type of account requires more money to open but yields a higher interest return?
Money market account.
What is the best retirement saving option for Morgan?
A matching contributions plan.
Which investment option offers tax savings?
Roth IRA.
Who should Heather contact if a product was misadvertised?
The Federal Trade Commission.
Which statement about 529 plans is false?
You can use the money for anything.
What is the best option for Andrew's savings account considering inflation?
A nominal interest rate of 3.2%.
What is LaTosha's real interest rate if the inflation is lower than her account rate?
1.2%.
What is synonymous to APR in terms of credit cards?
Interest rates.
What is a consequence of making only minimum payments on a credit card?
A longer period of being in debt.
Which statement is false regarding down payments?
It makes insurance payments lower.
Before offering Dakota a vehicle loan, which agency does the dealership check?
A credit bureau.
Which of the following is true about wage garnishment?
Getting a new job will not release you from your wage garnishment.
Why are payday loans considered a bad idea?
They have a very high interest rate and can be difficult to repay.
What might Desiree's financial advisor suggest given her independence and career?
Start with a high-risk portfolio of stocks since she's young.
Why did Serenity purchase stocks in a hyped new company?
She sees the potential for growth and can rebound more easily if there's a downfall.
How often do you pay a deductible for insurance claims?
Every time you make a new claim.
If Kadee chooses a car insurance plan with a low monthly payment, what might be true?
She may have to pay a higher deductible if she's in an accident.
Phishing scams are defined as?
Fraudulent attempts to obtain your sensitive information via electronic communication or telephone.
The Federal Trade Commission (FTC) is your first contact for what situation?
If you are a victim of identity theft.
Who is responsible for monetary policy?
The Federal Reserve.
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Flashcard (50)