Financial Literacy Quiz

What is a Credit Card?

• A card that deducts money directly from a checking account

• A card used to make cash deposits

• A card that provides a line of credit for purchases

• A card used only for online shopping

What is Collision insurance?

• Insurance that covers theft of your vehicle

• Insurance that covers damage to your car from a collision

• Insurance that covers medical expenses

• Insurance that covers home repairs

What is Homeowners insurance?

• Insurance that covers rental properties

• Insurance that covers damage to a home and its contents

• Insurance that covers only the land

• Insurance that covers vehicles

What is Renters insurance?

• Insurance for homeowners

• Insurance that covers personal property in a rental

• Insurance for landlords

• Insurance that covers mortgage payments

What is Life insurance?

• Insurance that covers medical expenses

• Insurance that provides a payout upon the policyholder's death

• Insurance that covers car accidents

• Insurance that covers home repairs

What is a Credit Score?

• A measure of your income

• A numerical expression of a person's creditworthiness

• A type of bank account

• A measure of your spending habits

What is Credit History?

• A record of a person's borrowing and repayment activity

• A list of all bank accounts

• A measure of current income

• A record of employment history

What is a Minimum Payment?

• The full balance on a credit card

• The smallest amount you can pay to keep your account in good standing

• The amount needed to open a bank account

• The fee for late payments

Which type of insurance covers damage from natural disasters?

• Collision

• Comprehensive

• Renters

• Life

Which type of insurance provides a payout upon the policyholder's death?

• Disability

• Renters

• Life

• Collision