Personal Finance Quiz

A checking account generates interest whereas a savings account does not.

• True

• False

A debit card normally draws money when used from which account?

• Savings account

• checking account

• credit card account

• none of these

A checking account involves writing checks. What activity protects you from over drafting when writing checks.

• Using a credit card

• Using a debit card

• Balancing your check book

• none of these

A credit card offers you a line of credit. How much you can use of that line of credit is called what?

• credit limit

• credit card

• credit minimum

• debit minimum

APR is usually around 17% for a credit card. APR stands for what?

• Average percent register

• Annual percentage rate

• Absolute percent risk

• After price rate

According to this paystub, what is the number in the top left, #015574?

• Net pay

• gross pay

• check number

• policy number

According to the pay stub in this example, which number represents weekly gross pay?

• 25,953.20

• 670.00

• 504.62

• 499.10

In this pay stub example deductions are what?

• Life Insurance

• car insurance

• taxes

• credit card bill

If a savings account earns 1% interest annually, and you deposit $1000 on January 1, 2019, on January 1, 2020 what is your total in this account?

• 1000

• 1111

• 1010

• 10000

How old do you have to be to apply for a credit card?

• 16

• 21

• 18

• none of these