100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Financial Literacy Exam Questions and Answers $10.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. Financial Literacy
  4.  
  5. Financial Literacy

Exam (elaborations)

Financial Literacy Exam Questions and Answers
 6 views  0 purchase
  • Course
  • Financial Literacy
  • Institution
  • Financial Literacy

Inflation can cause difficulty in many ways. Which group would have the greatest problem during periods of high inflation that last several years? - Answer-b.) Older people living on fixed retirement income Which of the following is true about sales taxes? - Answer-d.) It makes things more expen...

[Show more]

Preview 1 out of 3  pages

Document information

  • October 12, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • financial literacy exam questions and answers
  • inflation can cause difficulty in many ways which

Written for

  • Financial Literacy
  • Financial Literacy

Seller

avatar-seller
lectknancy

Reviews received

Content preview

Financial Literacy Exam Questions and
Answers
Inflation can cause difficulty in many ways. Which group would have the greatest
problem during periods of high inflation that last several years? - Answer-b.) Older
people living on fixed retirement income

Which of the following is true about sales taxes? - Answer-d.) It makes things more
expensive for you to buy.

Rebecca has saved $12,000 for her college expenses by working part-time. Her plan is
to start college next year and she needs all of the money she saved. Which of the
following is the safest place for her college money? - Answer-d.) A bank savings
account.

Which of the following types of investment would best protect the purchasing power of a
family's savings in the event of a sudden increase in inflation? - Answer-d.) A house
financed with a fixed-rate mortgage.

Under which of the following circumstances would it be financially beneficial to you to
borrow money to buy something now and repay it with future income? - Answer-a.)
When you need to buy a car to get a much better paying job.

Which of the following statements best describes your right to check your credit history
for accuracy? - Answer-a.) Your credit record can be checked once a year for free.

Your take-home pay from your job is less than the total amount you earn. Which of the
following best describes what is taken out of your total pay? - Answer-c.) Federal
income tax, social security and Medicare contributions.

Retirement income paid by a company is called: - Answer-b.) Pension.

Many people put aside money to take care of unexpected expenses. If Juan and Elva
have money put aside for emergencies, in which of the following forms would it be of
LEAST benefit to them if they needed it right away? - Answer-a.) Invested in a down
payment on the house

Chelsea worked her way through college earning $15,000 per year. After graduation,
her first job pays $30,000. The total dollar amount Chelsea will have to pay in Federal
Income taxes in her new job will: - Answer-a.) Double, at least, from when she was in
college.

Which of the following best describes the primary sources of income for most people
age 20-35? - Answer-b.) Salaries, wages, tips.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller lectknancy. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $10.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

77858 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$10.49
  • (0)
  Add to cart