Financial Literacy

Personal Financial Literacy

By Anna Perez

Multiple Choice

1. Nathalia is shopping for a bank. She does not write checks or use the ATM. She pays for lunch with her debit card 25 times each month. Which bank is a better deal for Nathalia?

• Tex-Bank bank is the better deal for Nathalia because the fees for this bank is $3.50 per month

• Nation-Bank bank is the better deal for Nathalia because the fees for this bank are $2.75.

• Tex-Bank bank is the better deal for Nathalia because the fees for this bank is $12.25 per month

• Nation-Bank bank is the better deal for Nathalia because the fees for this bank are $20.754.

​Credit cards are useful when you don't have enough money to buy something.

Debit cards its, money you have available in your account​

Multiple Choice

2. Mrs. Rosalinda wants to buy a new stove and refrigerator, but she does not have enough money in her bank account to pay for one. Which of these is an option for Mr.s Rosalinda?

• She can use her debit card to buy her stove and refrigerator now.

• She can use her debit card at the ATM and withdraw money from her bank account.

• She can pay with a credit card and make monthly installments later.

• She can pay with a credit card and the money will be withdrawn from her bank account immediately.

Fill in the Blanks

Multiple Choice

4. When you don't pay in time, owing to much or all negative information that can affect your credit report. Which of these is the most number of years that this negative information will remain on a credit report?

• 15 to 18 years

• 11 to 14 years

• 3 to 6 years

• 7 to 10 years

Multiple Choice

5. Mrs. Gibbs applied for a car loan from a bank. Which statement does NOT describe the information the bank will look at on Mrs. Gibbs' credit report?

• The bank gives lower interest rates to people with higher credit scores.

• The report shows the likelihood that Mrs. Gibbs will pay back the entire loan on time.

• The report shows the highest level of education that Mrs. Gibbs has reached.

• The bank gives full loans to people with strong credit.

Multiple Select

6. Karla is researching ways to pay for her college education. Which of the following financial assistance programs will Karla have to pay back? Choose the three that apply.

• Bank loan

• Scholarship

• Subsidized Loan

• Grants

• Unsubsidized Federal Loan

Multiple Choice

7. The table shows the approximate median annual salaries associated with two levels of education.

Based on the table, how much more money would a person with a Master's degree earn than a person with a bachelor's degree over a 20-year career?

• $12,948

• $142,740

• $258,960

• $2,854,800

Multiple Choice

8. The check register shows the transaction in Mr. Gonzalez's new check account. She opened the account on November 5th.

Based on the information in the check register, what is the balance in Mr. Gonzalez's register after the ATM transaction in November 10th?

• $6,539.50

• $2,578.50

• $478.50

• $930.50