Financial Algebra Final Review

Financial Algebra Final Review

12th Grade

20 Qs

quiz-placeholder

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Financial Algebra Final Review

Financial Algebra Final Review

Assessment

Quiz

Mathematics

12th Grade

Medium

Created by

Julie Pinto

Used 2+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does APR stand for?

Annual Principal Rate

Annual Profit Rate

Annual Payment Rate

Annual Percentage Rate

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the role of a Credit Reporting Agency?

To offer financial advice

To collect and maintain credit information

To manage bank accounts

To provide loans to individuals

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does 'Insufficient Funds' mean?

A surplus of funds in an account

A type of loan

An account lacking enough money to cover a transaction

Having enough money to cover a transaction

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is Wage Garnishment?

A legal procedure where a portion of earnings is withheld for debt repayment

A tax deduction

A bonus payment from an employer

A type of savings account

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the Principal in financial terms?

The total amount of a loan

The original sum of money borrowed or invested

The monthly payment on a loan

The interest earned on an investment

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is Direct Deposit?

A cash deposit at a bank

Electronic transfer of funds directly into a bank account

A check payment

A manual transfer of funds

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is Compound Interest?

Interest on the initial principal only

A variable interest rate

Interest on both the initial principal and the accumulated interest

A fixed interest rate

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