PFL Review 2021

What can give you a low credit score?

• Paying bills on time.
• Late payments, high credit card balances or owing a lot of money.
• Not giving your friend his dollar back.
• Using your debit card to much.

What does WITHDRAWAL mean?

• put money into an account
• money taken out of an account?
• a way to pay for college
• a Bank Account. 

money paid for the use of money

• interest
• insurance
• collateral
• finance charges

How can you avoid paying interest fees on your credit card?

• Only use it for groceries
• pay off the full balance, on time, each month
• you cannot avoid interest fees
• only use Discover

When do you start paying taxes?

• When you turn 18

• When you make more than the minimum income requirement

• When you get a full-time job (part-time does not count)

• When you are notified by the IRS that you are required to pay federal income taxes

Hannah's first paycheck from her job shows that $450 was taken out in taxes. Which type of tax was taken out of Hannah's paycheck?

• Payroll Tax

• Income Tax

• Sales Tax

• Property Tax

When do you start paying taxes?

• When you turn 18

• When you make more than the minimum income requirement

• When you get a full-time job (part-time does not count)

• When you are notified by the IRS that you are required to pay federal income taxes

Jason filed his tax return and owes money. If he doesn't want to pay a fee, when should he pay this amount by?

• April 15th

• October 15th

• December 31st

• January 1st of the next year

Each of the following represents an installment loan EXCEPT…

• Student Loan

• Credit Card

• Home Mortgage

• Auto Loan

Which statement describes a Schumer box?

• The final calculation of how much you owe on your credit card bill each month

• The outstanding balance on your credit card once you’ve made your recent payment

• A standardized way of presenting the key terms of your credit card agreement

• A legal document stating that you’re behind on your credit card payments