Financial Literacy End of Year Test

True or False: Negative information stays on your credit report for 7-10 years.

• True
• False

A plastic payment card linked to a financial account and is used for transactions.

• Debit Card
• Credit Card
• Checking Account
• Savings Account

Tags

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

To put money into an account.

• Deposit
• Withdraw
• Savings for a chicken
• Interest for a cow

Tags

CCSS.L.8.5A

What is credit?

• Money allocated to a specific account for future use by the consumer without borrowing
• Goods, services, or money received in exchange for a promise to pay a definite sum of money at a future date
• The ability and willingness of an individual to pay back a loan as perceived by the lender
• An individual’s character, capital, capacity, collateral and conditions

What would be my monthly costs if I chose to bank at Bank of Texas and use my debit card 20 times to pay for lunch?

• $10.00
• $2.00
• $20.00
• $4.00

Tags

CCSS.5.OA.B.3

Benefits of credit cards include:

• safe and convenient, bonuses are offered
• allows you to build a positive credit report
• needed for reservations and online shopping
• all of these

Your credit score is not configured off of which of the following:

• Payment history
• Amount owed
• GPA
• Length of credit history

What was the balance of the account at the end of the day on 7/24?

• 4720.33
• 4320.03
• 5091.15
• 4500.75

Tags

CCSS.7.NS.A.3

Besides tuition, most colleges also charge their students for...

• room & board
• extra fees
• books
• all of the above

Tags

CCSS.6.RP.A.3B

What degree provides the highest earning potential in pay?

• High School  Diploma
• Associate's Degree
• Undergraduate Degree
• Master's Degree