Financial Literacy Quiz

What is a written record of income and expenses during a specific time frame, typically a year?

• Credit Score

• Budget

• Net Worth

• Investment

What is the term for when people get paid a certain amount of money for each hour they work?

• Salary

• Wage

• Credit Card

• Taxes

What is the term for earning a certain amount of money, no matter the hours worked?

• Wage

• Salary

• Interest

• Budget

What is an academic award conferred by a university or college on successful completion of a course?

• Degree

• Credit Score

• Investment

• Bankruptcy

What is the difference between your total assets and total liabilities?

• Net Worth

• Budget

• Debt

• Credit Score

What is a personal identification number used to authenticate your identity for electronic transactions?

• Credit Score

• PIN

• Net Worth

• Wage

What is the definition of "Economy"?

• The total income earned before any deductions or taxes.

• A large set of inter-related production, consumption, and exchange activities.

• A bank account that earns interest over time.

• A card that deducts money directly from a consumer's checking account.

What does "Net Income" refer to?

• The total income earned before any deductions or taxes.

• A retirement savings plan sponsored by an employer.

• The amount of income left after taxes and deductions have been taken out.

• A detailed report of an individual's credit history.

What does "Loan" mean?

• Money borrowed that is expected to be paid back with interest.

• A bank account that allows easy access to your funds.

• A retirement savings plan sponsored by an employer.

• A card that deducts money directly from a consumer's checking account.

What is a "Credit Report"?

• A detailed report of an individual's credit history prepared by a credit bureau.

• A bank account that allows easy access to your funds.

• A retirement savings plan sponsored by an employer.

• A form completed by college students for financial aid.