Quick Check Financial Literacy (Advanced)

Which of the following would not be found on a consumer’s credit report?

• a mortgage loan

• a checking account balance

• a student loan

• how long the consumer has had the credit card

Sandra is planning to attend a state university and qualifies for financial aid. Which

of the sets below can Sandra apply for, solely based on her financial need?

• scholarship, grant, student loan

• work-study, student loan, grant

• grant, work-study

• student loan, work-study

Mr. Irons is planning to take out a loan to buy a car. At the car dealership, he must sign a statement giving

permission to check his credit report. Which statement best describes why the car dealership wants to check

his credit?

• to determine if Mr. Irons is a safe driver

• to decide how much money Mr. Irons earns

• to determine if Mr. Irons can afford the car

• to determine the likelihood of Mr. Irons paying back the loan on the car

Mr. Hernandez is searching for a new checking account. He compares the fees associated with two different

banks in his town. Which of the following statements best supports the information?

• Mr. Hernandez should choose Star Bank because it has no fees.

• Mr. Hernandez should choose First Bank because the fees are the same.

• Mr. Hernandez should choose Star Bank if he normally has $800 in his bank account

• Mr. Hernandez should choose First Bank because the fee is just $10.

Joley is opening her first checking account as a teenager. She doesn’t have a job, so most of the income will

be gifts from birthdays and holidays. Bank A has an $8 monthly charge. Bank B charges 1% of the balance.

Which account balance below will result in Bank A being a better financial choice?​ (a)  

• $850
• $550
• $650
• $750

Mrs. Wright has organized the features of a credit and a debit card into a table below. Which description is

the best representation for the missing detail?

• purchases are unlimited in funds

• purchases are charged a fee at the time of

  transaction

• purchases must in a one-time payment

• purchases are subject to a credit limit

The average salaries of three different industries

are shown below. Based on the information, how

much more will someone in the technology industry

make than someone in the financial industry over a

period of 10 years?​ (a)  

• $191,180
• $19,118
• $405,900
• $214,720

At a career fair, various positions were being

advertised with their average annual salary. Over a 30-

year career, how much more will the electrical

engineer make than the electrician?

• $1,302,000

• $1,582,800

• $282,300

• $638,450

Marty is balancing his bank account with his check register.

Based on the transactions, what was the balance in

Marty’s account after he paid the veterinarian on

4/12?

Mathematical Equivalence

ON

Marty is balancing his bank account with his check register. Marty forgot to record his paycheck on 4/16. If

the balance is $820.00, then how much did he deposit

for his paycheck?

Mathematical Equivalence

ON