Money Test #2

What is debt?

• Another word for death

• Something, typically money, that is owed or due

• A loan on which you do not have to pay interest

• That which is incurred during childhood and consummated in college

Tags

CCSS.L.8.5A

What is a credit score?

• a number between 300 and 850 representing your creditworthiness

• a statistical number that evaluates a consumer's trustworthiness and is based on credit history.

• The higher it is, the better your credit is

• All of the above

What is an interest rate?

• it is your level of interest about a certain topic expressed as a percentage of your total interest

• The amount in terms of dollars that you have to pay back on a purchase

• it is the rate at which your interest in something expires. The higher the number, the quicker your interest expires

• The amount in terms of a rate or percentage that you have to pay back on an amount borrowed

Tags

CCSS.7.RP.A.3

Which is an exceptional credit score?

• 672

• 555

• 713

• 813

Tags

CCSS.7.NS.A.2C

The least amount that must be paid on a credit card each month is

• Late Fee
• Credit Limit
• Payment amount
• Minimum Payment

Tags

CCSS.7.RP.A.3

Money from nonprofit and private organizations that do not need to be repaid.

• Grants

• Scholarships

• Financial Bonus

• Beneficiary

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

A key difference between saving and investing is

• Saving is for everyone, investing is for the wealthy

• Your money is insured when investing, it is not in savings

• Investing has a guaranteed return, savings does not

• Saving is for emergencies & goals, investing is for long-term wealth

The first thing to consider in a budget is your "Income"

Income is:

• Money you spend

• Money that you receive (paycheck, benefits, allowance)

• Expensive items you want to buy

• Taxes

You owe $14.53.  You pay with a $20.00 bill.  What is your change?

• $5.43
• $5.47
• $5.42
• $4.75

Tags

CCSS.6.NS.B.3

Why should we INVEST instead of SAVE for retirement?

• Investing money can make it grow in the long term.

• Investing is safer than saving.

• Saving is too risky for retirement.

• Investing is more fun than saving.