Personal Financial Literacy

Which type of postsecondary degree takes about four years to earn attending college full time and is required for professions such as teachers, nurses, and hospital administrators?

• Doctoral or Professional Degree
• Associate's Degree
• Master's Degree
• Bachelor's Degree

A type of service offered by a bank that allows you to go online at anytime and check your account balances or pay your bills is called what type of service?

• debit service
• online protection
• online banking
• credit access

Credit cards, when used responsibly, can provide benefits for its consumers. Which statement below describes a benefit for a consumer using a credit card?

• A credit card company will allow you to buy now and pay back your debt when you are ready.
• A credit card doesn't cost you any more money than using a debit card as long as you make regular payments.
• Using a credit card responsibly and paying the balance off each month can help improve your credit score.
• People that use credit cards become wealthy more quickly.

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.8.1

CCSS.RL.9-10.2

CCSS.RL.7.2

Maintaining a good credit history by spending wisely and paying bills in a timely manner is beneficial to the consumer. Which combination of statements below list benefits of maintaining a good credit score?
1) People with good credit history have more financial options.
2) People with good credit history can get better interest rates on loans.
3) People with good credit history have better credit scores.
4) People with good credit history can borrow any amount of money.

• All statements list benefits of maintaining a good credit history.
• Only statements 1, 3, and 4 list benefits of a good credit score.
• Only statements 1, 2, and 4 list benefits of a good credit history.
• Only statements 1, 2, and 3 list benefits of a good credit history.

How you spend money and pay your debts can have a positive or negative effect on your credit score. Which statement below describes situations that will affect your credit score in a positive way?

• You have only a couple of credit cards that you pay off each month.
• You have lots of credit cards with high balances and you pay only the minimum monthly payment.
• You pay some of your bills on time and some late.
• You own your home and usually make payments on time, but sometimes you pay late.

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.8.1

CCSS.RL.9-10.2

CCSS.RL.7.1

Your credit report helps determine your overall credit score. Which statement about your credit report is false?

• Your credit report contains information about your late payments for at least 25 years.
• Your credit report contains information about your payment history.
• Your credit report can contain your address, your age, and job history.
• Your credit report contains information about your debts.

Many payment options are available to help with the cost of a college education. A payment option that allows you to work on campus at your college and earn money is called what type of payment option?

• scholarship
• loan
• pell grant
• work-study program

Tags

CCSS.7.RP.A.3

There are various methods in which to pay for your purchases. Paul used a type of card to pay for his purchase that withdraws money immediately from his checking account. What is this type of payment card called?

• credit card
• debit card
• 401 card
• savings plus card

Mrs. Johnson works as a Librarian and makes $46,320 per year. Mr. Rivera makes $75,490 per year working as an Actuary. Which statement below accurately describes the difference in their salaries over time?

• Mrs. Johnson will make $125,760 less than Mr. Rivera over a 5-year period.
• Mrs. Johnson will make $194,800 less than Mr. Rivera over a 10-year period.
• Over a 15 year period, Mr. Rivera will make $377,450 more than Mrs. Johnson.
• Over a 15 year period, Mr. Rivera will make $437,550 more than Mrs. Johnson.

Tags

CCSS.4.OA.A.3

Noah keeps track of his checking account balance by writing down all his purchases and deposits. The list below shows his transactions for a week.
- June 3rd, used debit card at coffee shop, $5.85
- June 4th, deposit of $20.00
- June 6th, used debit card for movie tickets, $9.75
- June 6th, used debit card for popcorn and snacks, $10.50
- June 8th, deposit, $115.34
What is the difference between the amount of money Noah spent and the amount of money Noah deposited?

• $109.24
• $203.34
• $150.24
• $254.05

Tags

CCSS.7.NS.A.3