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