Which of these statements about our financial system is FALSE:

True or False. Athletes who earned millions of dollars don't need to know how to manage their money.

Most high school students surveyed said which of these classes benefit their lives more than financial literacy classes:

Most college students can attend college without borrowing money.

Which TWO of these statements about retirement are NOT true:

People who had financial literacy in high school were NOT more likely to do which TWO of these :

Which of these are NOT true statements:

True or False. Credit card debt is at a high interest rate, compared to car loans or mortgages.

True or False. Americans charge more than $1 Trillion every year on credit cards.

True or False. The debt system keeps many people from building wealth, because they are constantly paying for things that they bought years ago.

"Wealth" is which of these:

Which one of these best describes anything of value that you own

Which one of these describes the money you earn for loaning people your money

Which one of these describes money that you pay for borrowing money

Which one of these do you invest in, if you want a fund manager to decide which specific companies to invest in.

Which one of these best describes money that you owe:

Which one of these terms best describes how quickly an asset can be converted to cash?

Which one of these terms best describes using a variety of investments, to reduce the loss if any one of them loses money

Which one of these terms best describes the loan amount when you borrow money?

Which of these statements about a 401(K) is NOT rue

True or False. There is no homework in this class.

Most millionaires are college NOT graduates.

More than half of all millionaires inherited their money. True or False.

Most millionaires attended public schools. True or False

Most millionaires drive expensive new cars. True or False

Most millionaires do NOT work in glamorous jobs, such as sports, entertainment, or high tech. True or False

The most common way to become a millionaire is by winning the lottery. True or False

A college graduate earns almost double the annual income of a high school graduate. True or False

Millionaires tend to be married rather than single. True or False

_______ _______ borrowers in the US owe 1.5 Trillion dollars

True or False. Credit cards typically charge about 20% interest.

True or False. In bankruptcy, you turn over all of your assets and all of your liabilities to the Court.

True or False. Language of money. Default is when you don't make loan payments on time.

True or False. Language of money. Bankruptcy is when you turn in most of your assets and most of your liabilities (except student loans) to the Court and start from zero.

True or False. Your employer withholds payroll deductions from your gross pay, before you get paid your net pay.

Language of money. _____ _____ is when you spend the limit on your credit card.

A common way to buy partial ownership of a company.

A common way to loan money to a company.

True or False. Interest is money you PAY for using other peoples' money.

True or False. Interest is money you are paid for letting other people use your money.

True or False. Assets are anything of value that you OWN.

True or False. Liabilites are what you OWE.

True or False. Mutual funds are a way to buy stocks or bonds without picking the specific company.

True or False. Using a variety of investments to reduce the risk if any one investment loses value is called diversification.

Language of Money. _____ is how quick and easy an asset can be converted to cash.

True or False. When you buy bonds from a company, you become a part owner of the company.

You earn $10 an hour, contribute $2,000 to your ROTH, and have a 10% tax rate. What is your taxable income: $______

You earn $10 an hour, contribute $2,000 to your 401(k), and have a 10% tax rate. What is your taxable income: $______

You earn $10 an hour, contribute $2,000 to your 401(k), and have a 10% tax rate. How much will you pay in income taxes: $______

Which of these are NOT true statements about S & P 500 index funds:

Which of these is the FIRST step in figuring out how much you will have to pay for income taxes:

Which of these is the SECOND step in figuring out how much you will have to pay for income taxes:

Which of these is the THIRD step in figuring out how much you will have to pay for income taxes:

Which of these is the FOURTH step in figuring out how much you will have to pay for income taxes:

Which of these is offered by many employers, and is a way to invest in your retirement, without paying income taxes when you contribute money:

Which of these is offered by many employers, and is a way to invest in your retirement, without paying income taxes when you retire:

Which of these is a way to invest in your retirement if your employer doesn't offer a retirement plan:

Which of these uses a fund manager to decide what stocks and bonds to invest in:

Which of these uses the S & P 500 to decide what stocks and bonds to invest in:

Which of these describes the first time that a company sells their stock to the public:

Which of these is a factor that many people consider when deciding whether to buy the stock of a company:

Which of these is one of the two ways that people make money buy owning stocks:

If you want to loan money, which of these can you do:

Which of these means how quickly an asset can be converted into cash:

Which of these means you invest in a wide range of assets:

Which of these does diversification lower:

Which of these should you do to build an emergency fund:

Which of these should you do to build your retirement fund:

"Compound Interest" means that you pay interest on:

True or False. Most loans compound interest daily, which makes the total amount owed increase very quickly.

Which of these is "interest":

Which of these is used to describe the interest rate:

Which of these is used to describe the amount that the government assumes your family can help to pay for your college education:

Which of these is used to describe the out of pocket cost for attending college:

What do we call the money that you could have made if you finished your four-year degree in four years instead of six?

Which of these should you consider when figuring out how much going to college will cost you:

Which of these is the basic forumula for figuring out how much financial aid you can get for college:

Which TWO of these are used to calculate your Expected Family Contribution:

As a general rule, your student loan debt should be ____ or less than your starting salary when you graduate college.

Which of these determine how much you will collect from Social Security when you retire:

Which of these do you normally need to pay before you can move into an apartment:

Which of these are true statements about what happens when you die:

Which of these are true statements about what happens when you declare bankruptcy:

True or False. When you declare bankruptcy, you give up all of your assets, and all of your liabilities are discharged.

Income - Expenses =

True or False. If you spend more than you earn, it ALWAYS decreases your net worth.

True or False. If you spend less than you earn, it ALWAYS increases your net worth.