Chapter 8 - Personal Financial Literacy

Front

Aliyana is a retired nurse who does not use a debit card but writes many checks. She does online banking and transfers money from her savings account to her checking account twice a month. Which most likely is Aliyana's bank?

Back

Bank 4

Front

What happens to a bank account when a deposit is made?

Back

The bank balance increases.

Front

Based on the transactions recorded in the check register, what would be the ending bank balance?

Back

$160.95

Front

What is the most important factor that lenders look at when reviewing loan applications?

Back

Payment history

Front

Which of the following choices is not a good option for Sam? Grant, Student loan, Scholarship, Work study

Back

Student loan

Front

What type of payment is $2,500 per semester from the government to help Sasha pay for college, which does not have to be paid back? Options: Grant, Student loan, Scholarship, Family support

Back

Grant

Front

A college will give Kimberley $3,200 per year toward tuition if she competes on the track team. What type of college funding is this?

Back

scholarship

Front

Which of the following information is not found in credit reports? Diplomas earned, Amounts owed, Credit types, Payment history

Back

Diplomas earned

Front

Which of the following does not describe a function of a credit report?
It helps a lender determine if you are able to get a loan.
It determines whether or not a person is issued a debit card.
It helps a credit card company determine your credit limit.
None of the above.

Back

It determines whether or not a person is issued a debit card.

Front

Which of the following does not describe a reason for establishing a good credit history?
Options:
It helps you get a better interest rate on a loan.
It helps a lender determine if you are eligible for a loan.
It makes your resume look better.
It allows you to have a higher credit limit on a credit card.

Back

It makes your resume look better.