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Financial Literacy

Authored by Rick Astley

Professional Development

11th Grade

Used 6+ times

Financial Literacy
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44 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What happens when you use your debit card?

It is the same as a credit card

Money is directly pulled out of your checking account.

You use your checkbook.

2.

FILL IN THE BLANK QUESTION

1 min • 5 pts

True or False - Debit and Credit Cards work exactly the same way?

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

If you want a credit card before you are 21 what is a reason you may need support from your parents?

You need a deposit for a secured credit card which would help you build credit

parental support with a credit card could help with future planning

You may need a cosigner

A credit card can be useful in an emergency

All of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What aspects of a credit card would not rely on the support of a parent?

Credit card benefits and convenience of a credit card

you may need a cosigner

You may need a deposit

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What are the benefits of early loan payments on student loans?

Less debt

Increase your credit score

All of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

How do secured credit cards work?

You can spend unlimited money

You put down a deposit in case you default on a payment

You sign up online

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

How do payments work on a secured credit card?

You spend whatever you want

You pay once a year

You are allowed to spend the amount of the deposit but must pay your monthly payment

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