Financial lit - Study guides, Class notes & Summaries

WISE Financial Literacy Certification Term Review with Complete Solutions What does an exemption refer to in terms of taxation? It is a legal deduction that lowers the amount of income subject to tax. What is a gift card and how does it function? A gift card is a prepaid card with a fixed amount of credit that can be used for purchases at a designated store. What does discretionary income or a budget surplus represent? It is the portion of income available for spending after taxes ...

Economics is the study of how individuals and societies satisfy their unlimited wants with limited resources. a. True b. False - correct answer a. True When rising interest rates make borrowing more costly, how does it affect the business cycle? a. It causes consumers to consume more and increases demand. b. It lowers demand, decreases household purchases, and promotes contraction. c. It causes conflicts overseas and reduces a nation's ability to import goods. d. It increases produ...

GEB 3006 EXAM 3 Financial Literacy Questions with Correct Answer1.

What is the definition of a "want"? a. something you would like to have but have to purchase on credit b. something you would like to have and something you must have c. something you would like to have but can survive without d. something you would like to have as long as it doesn't cost too much - Answer-something you would like to have but can survive without Paul wants to purchase a brand new truck. He has to take out a loan from the truck company in order to pay. He will be making...

Financial Literacy Exam| 174 Questions and Answers 100% CorrectFinancial Literacy Exam| 174 Questions and Answers 100% CorrectFinancial Literacy Exam| 174 Questions and Answers 100% CorrectFinancial Literacy Exam| 174 Questions and Answers 100% Correct When is the best time to apply for a credit card? - ANSWER-when you have enough income to pay your debts How long will a chapter 7 bankruptcy usually remain on your credit report? - ANSWER-ten years Define debt. - ANSWER-the state of owing ...

W!SE Financial Literacy Certification Test Topic ChecklistW!SE Financial Literacy Certification Test Topic ChecklistW!SE Financial Literacy Certification Test Topic ChecklistW!SE Financial Literacy Certification Test Topic ChecklistW!SE Financial Literacy Certification Test Topic Checklist Earned Income - ANSWER-Income derived from active participation in a trade or business, including wages, salary, tips, commissions and bonuses. Unearned Income - ANSWER-Any income that comes from investm...

GEB 3006 exam 3 financial literacy Questions with Correct Answers.

GEB 3006 Exam 3 Financial Literacy Questions And Answers With Latest Quiz What two factors count for 65% of your FICO score? Payment history and outstanding debts Which company has developed the MOST commonly used credit score to evaluate an individual's credit? Fair Isaac Corporation You should try to achieve a FICO score of at least ________ in order to receive a top credit rating. 760

BYU Financial Literacy Final Test 100% Correct What is the definition of a "want"? a. something you would like to have but have to purchase on credit b. something you would like to have and something you must have c. something you would like to have but can survive without d. something you would like to have as long as it doesn't cost too much - Correct Answer ️️ -something you would like to have but can survive without Paul wants to purchase a brand new truck. He has to take out a...

Prep for Exam for Personal Financial Literacy Questions With Complete Solutions