Financial Literacy Final

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

• Debit Card
• Credit Card
• Checking Account
• Savings Account

To put money into an account.

• Deposit
• Withdraw
• Savings for a chicken
• Interest for a cow

Scholarships and grants are available for many college students, and they...

• have deferred payment
• give students a job to help pay
• don't have to be paid back
• have a low interest rate

Which services is a bank likely to offer?

• net deposit and balance
• online banking and savings accounts
• check writing and car wash
• credit card and Tootsie Rolls

Credit cards and debit cards are essentially the same thing.

• True
• False

What do we call a fee that is collected for using someone's money?

• Deposit

• Interest

• Loan

• Check

Tax on the value of a house, building or land

• Sales Tax
• Property tax
• Income Tax

Tax the boss takes out of your check for social security and medicare

• Property Tax
• Income Tax
• Sales Tax
• Payroll tax

a bankcard linked to an individual’s checking account 

• debit card
• credit card
• check card
• electronic card

Jill earned $220 gross income last month.  She had to pay $13 for payroll tax and $27 for income tax.  How much was Jill's net income?

• $260
• $193
• $180
• $40