3/19- Quizizz- Financial Literacy

Which of the following is a reason to establish a good credit score?

• It helps you get a loan.

• It helps you get a better interest rates on loans.

• It helps the borrower determine if a loan will be approved.

• All of the above.

What does it mean when your employer matches your 401k contributions?

• your employer contributes money without any limit

• your employer takes money from your paycheck and puts it in your 401k

• your employer burns your 401k

• your employer contributes money as well up to a certain amount

IRA's are

• Individual Retirement Accounts.

• Integrated Retirement Accounts.

• Inflation Resistant Accounts.

• . Individual Retirement Authorities.

A 401k plan is a(n)

• emergency fund

• retirement plan

• checking account

• loan

The cost of borrowing money is referred to as 

• Interest 
• Annual Percentage Rate 
• Credit 
• Credit Line 

The amount you must pay on a credit card, based on a percentage of the outstanding balance.

• minimum fee
• minimum payment
• monthly statement
• minimum monthly interest charge

To build a good credit history, you should

• open as much credit as possible quickly
• use the maximum credit allowed on all your credit cards
• pay on time and as much of your balance as possible
• all of these

Money that you owe for things like utilities (water, heat, electricity, etc.) and debt

• check

• withdraw

• bills

A plan for how much you want to spend in different areas based on how much  money you make.  

• budget

• credit card

• income

When you put money into one of your accounts at a bank or credit union.

• check register

• withdraw

• deposit