Financial Literacy Review

When using a credit card, you will be charged ​ (a)   if the balance is not paid.

• interest
• insurance
• $10
• overdraft

Tags

CCSS.7.RP.A.3

Travis likes that ​ (a)   allow him to take money out of an ATM, as well as receive cash back at various stores.

• debit cards
• credit cards

Jasmine likes that ​ (a)   allow her to build a positive credit history so that she can purchase a home in the future.

• credit cards
• debit cards

Tags

CCSS.RI.6.2

CCSS.RL.6.1

CCSS.RL.6.2

CCSS.RL.7.1

CCSS.RL.7.2

Kayla had a balance of $106.15 in her checking account. She deposited $75.62 that she earned in tips from her job. What is her new balance?

Tags

CCSS.6.NS.B.3

What do you call a tool for organizing transactions and keeping track of your account balance?

• Check Register

• Transfer

• Withdrawal

• Deposit

Will had a balance of $546.24 in his checking account. He wrote a check to his gardener for $120. What is his new balance?

Tags

CCSS.6.NS.B.3

1. A ​ (a)   is a transaction when money is put into your account.

2. 2. A ​ (b)   is a transaction when money is taken out of your account.

3. 3. A ​ (c)   is a transaction when money is moved from one account to another.

• deposit
• withdrawal
• transfer

Which statement best describes purchases made with a debit card?

• Purchases are subject to interest

• Purchases can be paid for over time

• Purchases are withdrawn directly from a bank account

• Purchases are subject to a credit limit

If John has $500 in his checking account, how much would his fee be at Bank A?

What is it called when your checking account balance drops below zero?

• Overdraft

• Interest

• Transfer

• Deposit