Unit 12 Formative 1 1/2

(6.14E) How long will a negative credit action usually remain on a credit report?

• 4 years
• 7 years
• 10 years
• 15 years

There are various methods in which to pay for your purchases. Paul used a type of card to pay for his purchase that withdraws money immediately from his checking account. What is this type of payment card called?

• credit card
• debit card
• 401 card
• savings plus card

Sally goes to the bank. She puts her babysitting money in her account. Sally has made a

• Deposit

• Withdrawal

You can be charged a late fee if the payment is not made within the due date.

• Credit card
• Debit card
• both

Which person is most likely to be offered a loan, if the decision was solely based on their credit scores?

• M. Spiller
• B. Murphy
• S. Thorne
• W. Myers

What is a plan for how you spend your money?

• income

• sales tax

• budget

• deposits

Money deducted from an account is known as a...

• Withdrawal

• Overdraft

• Insufficient Funds

• Reconcile

Which bank is better for me? I pay for lunch 20 times a month with my debit card. I do not write checks or use the ATM.

• State Bank

• Bank of Texas

What would be my monthly costs if I chose to bank at Bank of Texas and use my debit card 20 times to pay for lunch?

• $10.00
• $2.00
• $20.00
• $4.00

What is the starting balance on this check register?

• 4720.33
• 4500.00
• 4500.75
• 4320.00