Financial Literacy Quiz

What is the difference between debit and credit?

• Debit is money you owe; credit is money you have.

• Debit is money you have; credit is money you owe.

• Debit is a type of loan; credit is a type of savings.

• Debit is a type of savings; credit is a type of loan.

What does a credit score tell a potential loaner?

• Your favorite bank

• Your income level

• Your creditworthiness

• Your spending habits

What does APR stand for?

• Annual Percentage Rate

• Annual Payment Rate

• Average Percentage Rate

• Average Payment Rate

Tags

CCSS.7.RP.A.3

Name three different types of banks.

• Commercial, Investment, Central

• Savings, Loan, Credit

• Retail, Corporate, Private

• National, Regional, Local

Why should you never throw away anything with personal information on it?

• It can be used for identity theft.

• It can be recycled for money.

• It can be used to track spending habits.

• It can be used to improve credit score.

What should you do with mail that has a credit card offer in it for you if you don’t want it?

• Throw it away immediately.

• Shred it to protect your information.

• Save it for future reference.

• Return it to the sender.

Tags

CCSS.RI.11-12.3

CCSS.RI.8.3

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

What form will your employer give you at the end of the year to fill out your income tax return papers with?

• W-2 Form

• 1040 Form

• W-4 Form

• 1099 Form

What is the difference between Subsidized and Unsubsidized loans?

• Subsidized loans are interest-free during school; Unsubsidized loans accrue interest.

• Subsidized loans have higher interest rates; Unsubsidized loans have lower rates.

• Subsidized loans are only for graduate students; Unsubsidized loans are for undergraduates.

• Subsidized loans require a credit check; Unsubsidized loans do not.

What type of program can you use on Google Suite to help you with your monthly budget? (What program did we use to calculate loan payment)

• Google Sheets

• Google Docs

• Google Slides

• Google Forms

What is the nine-digit number that the government assigns you called?

• Social Security Number

• Tax Identification Number

• Passport Number

• Driver's License Number