Financial Literacy Review

Which of the following can be damaging to a person's credit history?

• Having 15 accounts open with high balances
• Making minimum monthly payments on due date
• Having multiple addresses listed in personal information

Wendy wants to improve her credit score. Which of the following actions will help Wendy improve her score?

• Pay the minimum amount due on credit cards and loans.
• Close any accounts that have a zero balance. 
• Make all monthly payments on or before due date. 
• Take out additional loans to pay off current debt. 

What is one advantage of using a credit card over a debit card?

• Using a credit card never has an advantage over using a debit card. 
• Colleges may look at a person's credit history before accepting them into school.
• Apartment managers or landlords may look at a person's credit history before renting. 
• Using a credit card responsibly can build positive credit history. 

Credit cards take money directly out of your bank account. 

• True 
• False

Tags

CCSS.RI.6.2

CCSS.RL.6.1

CCSS.RL.6.2

CCSS.RL.7.1

CCSS.RL.5.2

One of the main features of a debit card is

• You have to pay interest on purchases
• You get to make payments over time
• The money comes directly from your checking account
• You have to apply for one

If a plumber earns $55,100 per year and an electrician earns $59,500 per year, how much more money would the electrician earn over the plumber in 20 years?

• $4,400.00
• $4,500.00
• $44,000.00
• $88,000.00

Tags

CCSS.7.EE.B.3

The table shows the monthly fees for the checking accounts at two banks.

Which statement is best supported by the information in the table?

• The fee at Bank Y will always be less than the fee at Bank Z.

• The fee at Bank Y will always be less than the fee at Bank Z.

• The fee at Bank Y will be more than the fee at Bank Z only when a customer’s balance is more than $500.

• The fee at Bank Y will be more than the fee at Bank Z only when the checking account balance is less than $500.

Tags

CCSS.8.F.A.2

CCSS.HSF.IF.C.9

The check register shows the transactions in Ms. Garcia’s new checking account. She opened the account on October 3.

Based on the information in the check register, what is the balance in Ms. Garcia’s check register after the ATM transaction on October 11?

• $5,105

• $2,095

• $3,600

• $1,505

Tags

CCSS.7.NS.A.3

Before Nina bought groceries on April 22, she had a balance of $487.25 in her checking account. Nina wrote her transactions in her check register. She included all her transactions through the end of the day on April 23.

• $429.75

• $547.75

• $574.75

• $399.75

Tags

CCSS.7.NS.A.3

What mathematical operation is used in a check register when a withdrawal is made?

• addition

• subtraction

• multiplication

• division

Tags

CCSS.5.NBT.B.7