W!SE Financial Literacy Exam

W!SE Financial Literacy Exam The test will be on Wednesday, June 1 50 questions , 60% is passing There are FOUR subject areas covered: A. Money/Money Management/Personal Finance B. Banks & Banking C. Credit D. Insurance & Investing This will count as your Final Exam (10% of your overall grade.) Moneypower.org has many practice tests CASE SENSITIVE Login: Shs360 Password: hS3420 Why study for this? 1. Board of Ed. is paying for it 2. Certifications matter when seeking employment 3. it is your final exam 4. Do not let opportunities pass you by EXTRA CREDIT: ATTEND STUDY SESSION 2:59 to 3:45 everyday starting Tuesday 5/17 5/16 W!SE practice moneypower.org

5/17 W!SE Review Subject A

5/18 W!SE Review Subject A

5/19 W!SE Review Subject B

5/20 W!SE Review Subject B

5/23 W!SE Review Subject C

5/24 W!SE Review Subject C

5/25 IES Field Trip?

5/26 W!SE Review Subject D

5/27 W!SE Review Subject D

5/30 NO CLASSES Memorial Day

5/31 Final W!SE REVIEW

6/1 *W!SE TEST

6/2 6/3 *W!SE Make-up

A - Money / Money Management / Personal Financial Planning 401k , 403b

Budget

Barter Deficit

Garnishment

Mortgage ( Fixed vs. Adjustable)

Gross vs. Net Pay

Equity

Inflation

Consumer Price Index (CPI)

Social Security Tax (FICA)

Asset

Short, Intermediary, and Long-term goal

Windfall Income

Liability

Needs vs. Wants

Compound Interest Principal

Net worth

Opportunity Cost

Pension

Pay yourself first rule

Real Estate

Variable Expense

IRA

SEC

Simple Interest Rule of 72

Emergency Fund Fixed Expense

Time Value of Money

Helpful websites: http://www.japersonalfinance.com/gsjapf/sim/sim_intro2.htm Junior Achievement http://www.frbsf.org/currency/index.html Federal Reserve Bank

B - Banks & Banking S & L Bank

Bounced Check

Collateralized Loan

Brokerage /Securities

Cashier’s Check

Commercial Bank

U.S. Savings Bond ( EE HH)

Credit Union

Money Order

Safe Deposit Box

Accountant

Reconcile

U.S. Treasury Department

Banker

FDIC

Federal Reserve Bank

IRS

Helpful websites: http://www.bos.frb.org/education/pubs/banking2.pdf

C - Credit 3 C’s of credit

Default

APR

Revolving Credit

Lien

Bankruptcy Chapters 7,11, 13

Installment Credit

Payday Loans

Consumer Credit Counseling Services

Truth in Lending Act

Finance Charge

Collateral

Fair Debt Collection Practices Act

FICO Score

Repossession

Credit Reporting Agencies

Predatory Lending

Helpful websites : www.consumerjungle.org

D - Insurance & Investing Deductible

Risk

Homeowners Insurance

Beneficiary

Whole vs. Term Life Insurance

Insurance

Cash Value

Renters Insurance

Premium

Claim

Rider / Floater

Broker

Death Benefit Disability Insurance

Bull vs. Bear Market

Financial Planner

Blue Chip Stock

Dividend

Bond

Dow Jones

Stock (Growth, Income, common, preferred)

Capital Gain

Liquidity

Treasury Bill (T-Bill)

Diversification

Mutual Fund

Treasury Note (T-Note)

Return on Investment (ROI)

NASDAQ

Securities

S & P 500

Helpful websites: www.iii.org

Insurance Information Institute