Ch 11 Quiz: Financial Literacy

Which of the following would NOT be found on a consumer's credit report?

• a mortgage loan

• a checking account balance

• a student loan

• how long the consumer has had the credit card

Sandra is planning to attend a state university and qualifies for financial aid. Which of the sets below can Sandra apply for, solely based on her financial need?

• scholarship

• student loan

• grant

• personal loan

Mr. Irons is planning to take out a loan to buy a car. At the car dealership, he must sign a statement giving permission to check his credit report. Which statement best describes why the car dealership wants to check his credit?

• to determine if Mr. Irons is a safe driver

• to decide how much money Mr. Irons earns

• to determine if Mr. irons can afford the car

• to determine the likelihood of Mr. Irons paying back the loan on the car

Tags

CCSS.RI.6.1

CCSS.RI.6.8

CCSS.RI.7.1

CCSS.RL.6.1

CCSS.RL.7.1

Which statement best describes purchases made with a debit card?

• Purchases made with this card are subject to interest.

• Purchases made with this card can be paid over time.

• Purchases made with this card are withdrawn directly from a bank account.

• Purchases made with this card are subject to a credit limit.

How long does information stay on your credit report.

• 3 to 6 years

• 7 to 10 years

• 11 to 14 years

• 15 to 18 years

Mrs. Wright has organized the features of a credit & debit card into the table. Which description is the best representation for the missing detail?

• purchases are unlimited in funds

• purchases are charged a fee at the time of transaction

• purchases must be in a one-time payment

• purchases are subject to a credit limit

The average salaries of three different industries are shown in the table. Based on the information, how much more will someone in the technology industry make than someone in the financial industry over a period of 10 years?

• $19,118

• $405,900

• $191,180

• $214,720

At a career fair, various positions were being advertised with their average annual salary. Over a 30-year career, how much more will the electrical engineer make than the electrician?

• $1,302,000

• $1,582,800

• $282,300

• $638,450

Tags

CCSS.7.EE.B.3

Marty is balancing his bank account with his check register.

Based on the transactions, what was the balance in Marty’s account after he paid the veterinarian on 4/12?

• $780

• $690

• $340

• $430

Tags

CCSS.7.NS.A.1B

Marty is balancing his bank account with his check register.

Marty forgot to record his paycheck on 4/16. If the balance is $820.00, then how much did he deposit for his paycheck?

• $480

• $1,160

• $1,380

• $260

Tags

CCSS.7.NS.A.3