Financial Literacy State Test Review Questions and Correct Answers | Latest Update
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Course
Financial Literacy State
Institution
Financial Literacy State
Amortization
-:- Payment of a portion of the principle of a mortgage loan, reducing
or amortizing the mortgage amount.
Annual Percentage Rate
-:- The total annual percentage amount it will cost a person to use
credit.
Asset
-:- Any items of value that people own, including cash, propert...
✓ -:- A certificate of debt that is issued by a government or corporation
in order to raise money with a promise to pay a specified sum of money
at a fixed time in the future and carrying interest at a fixed rate.
Borrowing
✓ -:- Obtaining funds from a lender.
Budget
✓ -:- A plan for spending and saving money based on a person' s goals
during a given time period.
Career
✓ -:- A life-work chosen by a person to use personal talent, provide some
service or goods, earn money, and contribute to society.
Charitable Giving
✓ -:- A gift made by an individual or an organization to a nonprofit
organization, charity or private foundation. Charitable donations are
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