Financial Literacy Review

40 Regular Hours Worked

9 Overtime Worked

$9.50 Regular Rate of Pay

Calculate Gross Pay

Enter your answer without a dollar sign AND two decimal places. For example, one thousand dollars would be entered as 1,000.00

(a)  

Given an annual salary of $101,500, calculate monthly pay.

Enter your answer without a dollar sign AND two decimal places. For example, one thousand dollars would be entered as 1,000.00

(a)  

Which is NOT one of the credit bureaus?

• TransUnion

• Experian

• TransCred

• Equifax

What governs all of the credit bureaus?

• Free Credit Score Act

• Future Credit Removal Act

• Federal Credit Awareness Act

• Fair Credit Reporting Act

40 Regular Hours Worked

6 Overtime Hours Worked

$9.00 Regular Rate of Pay

$68.00 Deductions

Calculate Net Pay

Enter your answer without a dollar sign AND two decimal places. For example, one thousand dollars would be entered as 1,000.00

(a)  

How often can you get a free credit report from each bureau?

• Every 3 months

• Every 2 years

• Every 12 months

• Every 6 months

What is the only authorized website to provide consumers with free official credit reports?

• AnnualCreditReport.com

• CreditReport.gov

• ftc.gov

• creditkarma.com

How long do late payments generally stay on your credit report?

• 10 years

• 15 years

• 2 years

• 7 years

What is the main difference between soft and hard inquiries?

• They are the same thing

• Hard inquires are no longer used, but soft inquiries are

• Soft inquires are only for small lines of credit, while hard inquiries are for larger lines of credit

• Soft inquiries do not impact your score while hard inquiries do

Which of the following is NOT a derogatory mark on your credit report?

• Variety of accounts

• Late payments

• bankruptcy

• Liens