Banzai Post Test Review

The best way to create a budget is to ___ your income into categories and plan how much you’ll spend on each.

• multiply

• divide

• add

• subtract

A debit card lets you pay with the money in your ___ account.

• starter

• mutual fund

• checking

• saving

If you don’t pay your credit card balance off in full each month,

you’ll be charged ___.

• interest

• full amount

• transaction

• cents on the dollar

Someone broke into your apartment and stole all of your stuff.

Luckily, you have renter’s insurance.

You request that your insurance pay for the lost items by filing a ___.

• promissory note

• plan

• repayment

• claim

A ___is the document that comes with your paycheck and shows you what you were paid and how much was taken for taxes.

• paystub

• paypal

• payfile

• payment

When moving to a new rental, you’ll likely need to pay a security deposit.

This is often the first and last month’s ___.

• insurance

• power bill

• mortgage

• rent

You got $200 from your grandma for your birthday. The first thing you should do is record it as ___ in your budget.

• outcome

• income

• deposit

• withdrawal

A ___ is the name of the document that tells you what you need to pay on your credit card.

• statement

• answer

• options

• document

If you go into debt, you’ll need to pay back a minimum amount every month;

you’ll likely pay more than you borrowed due to interest;

and your net worth will be ___ affected.

• payments

• interest

• negatively

• positively

You charged $500 to your credit card to buy a new TV and paid it off after 6 months. With interest, you paid back a total of $600. $500 is called the ___ in this situation, and you paid $100 in interest.

• interest

• deductible

• payments

• principal