Financial Literacy Study Guide

How many years is information retained on your credit report?

• 5 years

• 7 years

• 10 years

• 15 years

What does withdrawal mean? ________

• take money out

• put money in

• transfer to a different account

• investment

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

What does deposit mean?

• put money into an account

• take money out

• transfer

• balance

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

A debit card withdraws money from where?

• A debit card withdraws money from a bank account.

• A debit card withdraws money from a credit card.

• A debit card withdraws money from a savings bond.

• A debit card withdraws money from a gift card.

A credit card is good for emergencies, true or false? ________

• True

• False

Tags

CCSS.RL.11-12.6

With a credit card can you buy an item even if you do not have enough money in your account? ________ because the money is paid ________

• Yes, because the money is paid later.

• No, because the money is deducted immediately.

• Yes, because the bank covers the cost.

• No, because you need to have enough balance.

Making payments late will have a ________ impact on your credit score.

• negative

• positive

• neutral

• insignificant

Tags

CCSS.RI.6.2

CCSS.RL.6.1

CCSS.RL.6.2

CCSS.RL.7.1

CCSS.RL.7.2

Earning money through sports, academics or other merits is called a ________

• scholarship

• salary

• student loan

• grant

Tags

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

A loan is ________ money. That is repaid with ________

• borrowws, interest

• gift, gratitude

• investment, profit

• debt, loss

Tags

CCSS.L.2.4B

CCSS.L.2.4C

CCSS.L.3.2E

A bachelor's degree is typically earned in ________

• 4 years

• a high school

• 2 years

• 6 years

Tags

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.3

CCSS.RI.7.5