Financial Literacy Final Exam Questions

All of these are examples of types of credit except:

• savings account
• college loan
• credit cards
• car loan

Before signing up for a credit card, you will want to find out...

• if there is an annual fee.
• what the interest rate is on purchases.
• what types of late fees could be charged.
• all of these are correct.

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

Credit scores range from _____ to _____.

• 350, 800
• 300, 850
• 400, 650
• 400,800

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

a bankcard linked to an individual’s checking account 

• debit card
• credit card
• check card
• electronic card

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

Scholarships and grants are available for many college students, and they...

• have deferred payment
• give students a job to help pay
• don't have to be paid back
• have a low interest rate

Has the least amount of risk

• Bonds

• Stocks

• Real Estate

• Speculative Investments

What is a bond? 

• a certificate of ownership in a corporation, with the right to a share of the earnings 
• a certificate representing a loan from an investor to a corporation or government entity 
• a payment from an investor to a corporation for the rights to future profits 
• a group of stocks sold together for a set price 

Why would someone choose to put money in stocks as opposed to a savings account that earns interest? (Choose the best answer)

• They are guaranteed a return in a savings account
• There is potential to earn more money in the savings account
• They are guaranteed a return in stocks
• There is potential to earn more money in the stock market