Financial Literacy Test Review |26 Questions| With Correct Answers.

Disability Insurance {Ans: type of insurance will protect you if you cannot work for several weeks or months}Types of insurance {Ans: Life Health Property Liability Disability Car}Name two ways you can invest your money. {Ans: Savings accounts, CDs, stocks, real estate, mutual funds}How can someone get and keep a good credit score? {Ans: Pay bills on time, get credit only when you need it, pay off debt, keep balances low}Two reasons why creating a budget is valuable {Ans: save for the future, decide how to spend in the future, you know where you are spending your money, control of your money}Periodic Expenses {Ans: Expenses that you don't pay every month like car repairs}Debit Cards {Ans: Cards that allow you to spend money from you CHECKING account}How can you prevent identity theft? {Ans: Keep personal info safe, shred bills, beware of scams, shop on secure websites}Consequences of being in debt {Ans: low credit score, pay high interest rates, difficult to get jobs}revolving credit {Ans: Type of credit with no pay off time, minimum monthly payments, a credit limit}installment credit {Ans: Type of credit with a fixed number of payments and