Personal Financial Literacy Quiz

What is a card issued by a bank used to make purchases directly from your account?

• Credit card

• Debit card

• Gift card

• Store card

What is the term for money borrowed by students to pay for college, and it must be paid back?

• Scholarship

• Grant

• Student loan

• Fellowship

What is a score you earn based on your financial actions, usually between 300-850?

• Credit score

• Bank score

• Financial score

• Loan score

What is the amount of money a person earns over 1 year called?

• Monthly income

• Annual income

• Weekly income

• Daily income

What is a bank account that is used for everyday spending?

• Savings account

• Checking account

• Investment account

• Retirement account

What is money taken out of the account called?

• Deposit

• Withdrawal

• Transfer

• Payment

What is the amount of time positive information stays on your credit report?

• 5 years

• 7 years

• 10 years

• Indefinitely

What is a bank account that pays interest?

• Checking account

• Savings account

• Credit account

• Loan account

What is money added to the account called?

• Withdrawal

• Deposit

• Transfer

• Payment

What is money given to students to pay for college, sometimes based on income, and does not have to be paid back?

• Loan

• Scholarship

• Grant

• Fellowship