Financial Futures Session 2 Quiz

Do you have a bank account?

• YES

• NO

What does the term "Deposit" mean?

• Taking money OUT of my account

• Putting money INTO my account

• INVESTING in my account

• BORROWING money from another account

You need to pay your credit card back once a ...

(a)  

What is a credit score?

• An investment app that tracks your spending

• The amount of money you are in debt

• A number representing how well you pay back your credit card

• The numbers on your credit card

What is a checking account used for? (MULTIPLE CORRECT)

• Day-to-day spending

• Using your debit card

• Direct deposits

• Long-term saving

What is a saving account used for? (MULTIPLE CORRECT)

• Investing in stocks

• Grocery shopping

• Earning some stable interest

• Setting money aside for large purchases

What is interest?

• A percentage charge for borrowing money

• Finding something exciting

• A stock investment opportunity

• A debit card

Why is it important to pay your credit card on time? (MULTIPLE CORRECT)

• Your interest will grow and you will enter into DEBT!

• Your CREDIT SCORE will look bad, making it harder to borrow money

• You will go to jail/be charged for FRAUD

• Your credit card will be TAKEN AWAY from you