Study

Financial Literacy End of MP Game

  •   0%
  •  0     0     0

      Back   Restart
  • True or False: You earn interest in a checking account
    false
  • Which product is the better deal?
    The larger size because it has a lower UNIT PRICE (although sometimes it makes sense to get the smaller size anyway!)
  • What is one difference between a credit union and a bank?
    (Answers vary) - credit unions are non-profit; you have to be a member of a credit union to have an account
  • True or false: all your money is protected (safe) in a bank
    Mostly true - all accounts up to $200,000 are protected by the FDIC
  • Name a kind of DEDUCTION that might be taken out of your paycheck
    Answers will vary (taxes, Social Security, Medicare, health/dental insurance, contributions to retirement savings account)
  • When you borrow money, would you rather have an interest rate of 4% or 6%?
    4%! The higher the interest rate, the more money you will have to pay back on TOP of what you borrowed!
  • What is the Ticker Symbol for Netflix?
    NFLX
  • What is the difference between a brand and a company?
    A brand is a product or group of products sold by a larger company.
  • You need a loan for $10,000. Is it better to pay $120/mo. for 10 years or $202/mo. for 5 years?
    Ideally, $202 for 5 years. You pay over $2000 extra interest for the additional 5 years.
  • Which is the bigger number - net income or gross income?
    Gross income; net income is what's left after taxes and other deductions are taken out.
  • Can advertisers lie about a product in an advertisement?
    No - that is illegal.
  • Is Cheerios a brand or a company?
    It is a brand. The parent company is General Mills
  • Why is it a good idea to look at a unit price when shopping?
    Because it is the easiest way to compare prices on different sizes of the same item
  • Is Starbucks a Brand or a Company?
    It is a company.
  • True or false: Net income is the same as take-home pay
    True
  • What is the Unit Price of the Cheerios?
    24.9 cents per ounce
  • Give an example of an OPPORTUNITY COST of going to college
    Not being able to work full time.
  • True or false: Once you put money in a savings account, it has to stay there for at least a year
    false
  • Give and example of needs vs. wants
    Answers vary
    • Your experience on this site will be improved by allowing cookies.