Personal Financial Literacy Review

A plastic payment card linked to a financial account and is used for transactions.

• Debit Card

• Credit Card

• Checking Account

• Savings Account

The actions of depositing and withdrawing money.

• Microtransactions

• Saving Money

• Transactions

• Shoe Laces

Tags

CCSS.6.NS.B.3

Information about how you manage your money and pay your bills is called

• A bank transfer

• bank account

• Credit history

• credit score

Tags

CCSS.RI.5.3

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.5

Banks and lenders use your credit history to decide should they loan you money. Having a negative credit history will make them want to give you a loan.

• True

• False

Tags

CCSS.RI.5.8

CCSS.RI.6.1

CCSS.RI.6.8

CCSS.RL.6.1

CCSS.RL.7.1

All of the following are costs of going to college EXCEPT...

• Tuition and fees

• Room and board

• Textbooks

• Scholarships and grants

Martha is an accountant and makes $67,000 per year. Her friend, Henry, is an auto mechanic and makes $37,000 per year. How much more will Martha make over the next 10 years than Harry?

• $300,000

• $104,000

• $670,000

• $633,000

Tags

CCSS.7.EE.B.3

Why is it important to establish a positive credit history?

• Higher credit scores result in lower interest rates on loans.

• Positive credit history results in higher credit scores.

• You are more likely to be offered a loan by a bank.

• All of the above.

A cost that does not vary from month to month or week to week.

• Flexible Expense

• Fixed Expense

• Deposit

• Debt

Tags

CCSS.7.NS.A.1C

Something that you pay is called....

• income

• an expense

• a profit

• savings

Tags

CCSS.6.NS.B.3

Your income before payroll taxes are taken out of it.

• All the money in my Piggy Bank.

• Income

• Sales Tax

• Gross Income

Tags

CCSS.7.RP.A.3