Financial Literacy Quiz

What is your First and Last name?

Interest can be defined as:

• a charge for lending money
• the amount owed for borrowing money
• the amount added into your savings account when opening a bank account
• a charge for convenience of accessing money in your bank

Which of the following situations does not describe the use of a credit card?

• may earn rewards

• can be used to build a positive credit history

• allows for unlimited purchases

• purchases may be subject to interest charges

What is the current amount of money in your bank account called?

• balance
• debt
• withdrawl
• payment

Tags

CCSS.6.NS.C.5

Money that is earned through a job.

• Interest
• Income
• Expense

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A

To put money into an account.

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

Tags

CCSS.L.8.5A

Which of the following is affected by a bad credit score?

• Getting a loan
• Buying a house
• Buying a car
• All of the above

Which of the following can have a positive effect on your credit score?

• Owing more money than you earn
• Losing your job
• Paying your bills on time
• Having a high debt-to-income ratio

Last month, Donte received a salary increase at his job. Is this more likely to have a positive effect or a negative effect on his credit score?

• Positive effect
• Negative effect

What is the easiest way to use money in your checking account?

• Use your debit card

• Use your credit card

• Write a check

• Make a withdrawal