Financial Literacy Review

An example of a financial institution is

• a department store
• a bank
• a school
• an ATM

A debit card is just another name for a credit card

• True
• False

When you use a debit card, you

• buy now, pay later
• buy now, pay now

When you use a credit card, you

• buy now, pay later
• buy now, pay now

When financial institutions lend money, they charge borrowers

• debits
• stock
• interest
• credit

Though they are not used as much, what is a written order for a bank to pay money

• checks
• credit cards
• foreclosures
• pink slips

Before taxes, the amount of earnings made over ONE YEAR is called

• Gross Annual Income
• Gross Monthly Income
• Net Annual Income
• Net Monthly Income

After taxes are taken out, the amount of earnings made over one MONTH is known as

• Gross Annual Income
• Gross Monthly Income
• Net Annual Income
• Net Monthly Income

A financial plan for managing money is called

• credit
• interest
• budget
• income

Monthly expenses like rent and car loan payments do not change from month to month.  These expenses are also known as

• fixed expenses
• secondary expenses
• impulse purchase
• investment banking