Podcast
Questions and Answers
Which term is used interchangeably with financial literacy?
Which term is used interchangeably with financial literacy?
- Financial knowledge
- Financial behaviors
- Financial skills
- Financial education (correct)
What do financially unsophisticated individuals struggle with?
What do financially unsophisticated individuals struggle with?
- Interest rate compounding
- Low financial knowledge (correct)
- Financial calculations
- Low-credit borrowing
What is the focus of state-run programs in several countries?
What is the focus of state-run programs in several countries?
- Increasing personal debt
- Enhancing financial literacy (correct)
- Promoting financial sophistication
- Raising interest rates
What advantage do financially sophisticated individuals have in borrowing?
What advantage do financially sophisticated individuals have in borrowing?
What is the benefit of understanding basic financial concepts?
What is the benefit of understanding basic financial concepts?
Flashcards
Financial literacy equivalent
Financial literacy equivalent
Financial education; these terms are used synonymously.
Financial unsophistication
Financial unsophistication
A lack of financial knowledge and skills.
State program focus
State program focus
Improving financial knowledge among citizens.
Sophisticated borrower advantage
Sophisticated borrower advantage
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Basic financial knowledge benefit
Basic financial knowledge benefit
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Financial literacy
Financial literacy
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Financial education
Financial education
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Unsophisticated individual struggle
Unsophisticated individual struggle
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Financial sophistication
Financial sophistication
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Borrowing cost for sophisticated
Borrowing cost for sophisticated
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