A detailed report of your credit history prepared by a credit bureau and used by a lender to determine creditworthiness is called a:

Certificate of Creditworthiness

Who has the better credit score?

Monthly Income: $3,300 Credit Care Balance: Pays Full Balance Student Loan Payment: $100

Monthly income: $1900 Credit Card Payment: $48 Credit Card Balance: 3857 Car Loan Payment: $218 Two late car loan payments

What is an example of cash advance?

Going to the store and getting cash back from your credit card.

Asking your siblings for money.

Paying the minimum payment on a credit card every month will:

Make the final amount paid substantially higher than the amount initially charged to the card

Pay a large percentage of the total balance owed every month

help the cardholder create a plan for paying of a credit card in a decent amount of time

allow the cardholder to avoid paying any interest charges

• Cost Comparison definition

• Comparing the cost of two or more goods or services in an effort to find the best value.

• Analyzing whether the cost of an item is more than, equal to, or less than the benefit that comes from purchasing that item.

The price paid for a good or service.

An outcome that promotes well-being.

• A plan for future spending and saving, weighing estimated income against estimated expenses.

• Identifying the cost of meeting future needs and goals.

Payment received for goods or services ,including employment.

Cost paid to secure a good or service.

• A plan for future spending and saving, weighing estimated income against estimated expenses.

• Identifying the cost of meeting future needs and goals.

Payment received for goods or services ,including employment.

Cost paid to secure a good or service.

Taking out a loan to buy something, in this case a car.

The initial amount paid for a car, the rest is paid off over time.

The percentage of the loan paid by the borrower, it is set as an annual rate.

The ability of a person to pay back a loan as determined by the loan officer. Past history of paying bills and having a current income is critical.

The price paid for a good or service.

• Comparing the cost of two or more goods or services in an effort to find the best value.

• Analyzing whether the cost of an item is more than, equal to, or less than the benefit that comes from purchasing that item.

An outcome that promotes well-being.

• Calculating Future Expenses

• Identifying the cost of meeting future needs and goals.

• A plan for future spending and saving, weighing estimated income against estimated expenses.

Payment received for goods or services ,including employment.

Cost paid to secure a good or service.

The percentage of the loan paid by the borrower, it is set as an annual rate.

Taking out a loan to buy something, in this case a car.

The initial amount paid for a car, the rest is paid off over time.

The ability of a person to pay back a loan as determined by the loan officer. Past history of paying bills and having a current income is critical.

Cost paid to secure a good or service.

• Identifying the cost of meeting future needs and goals.

• A plan for future spending and saving, weighing estimated income against estimated expenses.

Payment received for goods or services ,including employment.

• Cost-Benefit Analysis

• Analyzing whether the cost of an item is more than, equal to, or less than the benefit that comes from purchasing that item.

• Comparing the cost of two or more goods or services in an effort to find the best value.

The price paid for a good or service.

An outcome that promotes well-being.

The initial amount paid for a car, the rest is paid off over time.

Taking out a loan to buy something, in this case a car.

The percentage of the loan paid by the borrower, it is set as an annual rate.

The ability of a person to pay back a loan as determined by the loan officer. Past history of paying bills and having a current income is critical.

Payment received for goods or services ,including employment.

• Identifying the cost of meeting future needs and goals.

• A plan for future spending and saving, weighing estimated income against estimated expenses.

Cost paid to secure a good or service.

The ability of a person to pay back a loan as determined by the loan officer. Past history of paying bills and having a current income is critical.

Taking out a loan to buy something, in this case a car.

The initial amount paid for a car, the rest is paid off over time.

The percentage of the loan paid by the borrower, it is set as an annual rate.

An outcome that promotes well-being.

• Comparing the cost of two or more goods or services in an effort to find the best value.

• Analyzing whether the cost of an item is more than, equal to, or less than the benefit that comes from purchasing that item.

The price paid for a good or service.

Financial Literacy Vocabulary

Authored by Holly Blocker

Mathematics

8th - 12th Grade

CCSS covered

Used 15+ times

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45 questions

Show all answers

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Using a credit card allows you to...

put money into a savings account.

purchase something now and pay for it later.

take money directly from your checking account.

Tags

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A credit card company usually has a grace period for purchases. A grace period is...

the time period after you make a purchase until the time the interest starts to get charged.

the time period where interest builds on the amount you purchased.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Overspending and accumulating too much debt can ruin your credit score

True

False

Tags

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Annual fee definition

When you withdraw money from the ATM and it charges you $1.50.

When a credit card company charges you a fee each YEAR

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit scores range from _ to _.

350, 800

300, 850

400, 650

400,800

Tags

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The percentage rate (APR) charged on purchases is called:

annual fee

interest

balance

Tags

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

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Financial Literacy Vocabulary

Using a credit card allows you to...

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

A credit card company usually has a grace period for purchases. A grace period is...

Overspending and accumulating too much debt can ruin your credit score

Annual fee definition

Credit scores range from _ to _.

The percentage rate (APR) charged on purchases is called:

Amount charged if your payment is received after the billing date

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

Money that you make is called...

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Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Mathematics

Financial Literacy Vocabulary

Using a credit card allows you to...

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

A credit card company usually has a grace period for purchases. A grace period is...

Overspending and accumulating too much debt can ruin your credit score

Annual fee definition

Credit scores range from _____ to _____.

The percentage rate (APR) charged on purchases is called:

Amount charged if your payment is received after the billing date

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

Money that you make is called...

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Mathematics

Credit scores range from _ to _.