Financial Literacy

Which investment has the possibility of losing money?

• Savings account

• Stock market

• CD

• Piggy bank

What is the name of the bank penalty for having a negative balance (less than $0) in your account?

• Early withdrawl fee

• Compounded interest

• ATM fee

• Overdraft fee

What are some of the features of a debit card? CHECK ALL THAT APPLY

• Tied to a bank account

• Can be used for online shopping

• Using it improves your credit score

• Can be exchanged for gold

What is a degree from a 2-year community college (junior college) called?

• Master's Degree

• Associate's Degree

• GED

• Bachelor's Degree

What is an example of a good credit score?

• 5000

• 795

• 250

• 500

What usually comes with a checking account? CHECK ALL THAT APPLY

• Debit card

• Can check balance through online/app

• Checks

• Bonds

Derogatory marks (late/missed payments) can stay on your credit score for 7-10 years

• TRUE

• FALSE

Making a budget (and sticking to it!) can help you achieve financial goals

• TRUE

• FALSE

For credit cards, it is better to have a higher APR % (interest rate)

• TRUE

• FALSE

Why is it better to pay off credit card purchases quickly? CHECK ALL THAT APPLY

• If you don't pay quickly, the money you owe will keep increasing

• Missed payments will lower your credit score

• It will make your stock prices go up

• If you don't pay your credit card bills, you may not be able to buy a car or house in the future