WorksheetsUnit 3 review (Financial skills)
Total questions: 35
Worksheet time: 18mins
Name
Class
Date
1.
An account comprising of a certain amount of money that will make interest but must stay in place for a certain period of time.
a)
Savings
b)
Checking
c)
Certificate of Deposit
d)
Mutual fund
2.
Buying something and then paying later.
a)
Interest
b)
Credit
c)
Diversify
d)
All of the above
3.
An order to pay money from an account to another person or company.
a)
Credit
b)
Statement
c)
Check
d)
Salary
4.
The income one makes after taxes and other deductions are taken out.
a)
Gross pay
b)
Net pay
c)
Hourly pay
d)
Salary
5.
The income one makes before taxes and other deductions are taken out.
a)
Gross pay
b)
Net pay
c)
Hourly pay
d)
Salary
6.
One’s required signature on the back of a check for cashing or depositing purposes.
a)
Memo
b)
Endorsement
c)
Statement
d)
None of the above
7.
Money that is put into the bank.
a)
Debit
b)
Credit
c)
Withdraw
d)
Deposit
8.
A pool of money from many investors used to buy stock, bonds or other financial assets.
a)
Stock
b)
Bond
c)
Mutual fund
d)
CD
9.
A promise by a corporation or government to repay a certain amount plus interest at a specific time.
a)
Stock
b)
Bond
c)
Mutual fund
d)
CD
10.
Ownership shares in a company.
a)
Stock
b)
Bond
c)
Mutual fund
d)
CD
11.
Money taken out of one’s paycheck such as; taxes, insurance, union dues, etc.
a)
Daterents
b)
Exemptions
c)
Deductions
d)
All of the above
12.
Another name for social security.
a)
FDIC
b)
FICA
c)
FSSN
d)
SSCA
13.
A spending and savings plan which compares earnings and expenses.
a)
Earned income
b)
Expenses
c)
Budget
d)
Savings account
14.
Writing a check for more than one has in their checking account.
a)
Bounced check
b)
Rubber check
c)
Overdrawn
d)
All of the above
15.
A person’s yearly pay.
a)
Salary
b)
Assets
c)
Hourly pay
d)
All of the above
16.
Anything of worth a person owns.
a)
Salary
b)
Assets
c)
Income
d)
All of the above
17.
Money one earns on certain accounts, but also money one pays for buying things on credit.
a)
Credit
b)
Loan
c)
Salary
d)
Interest
18.
Jim wanted to buy a house, but didn’t have enough money the bank requested he pay before he received the loan. Jim couldn’t afford what?
a)
Interest
b)
Down payment
c)
Monthly payment
d)
Minimum payment
19.
When someone has his or her paycheck electronically deposited it’s called?
a)
Net pay
b)
Gross pay
c)
Direct deposit
d)
Manual deposit
20.
Investing in a variety of opportunities instead of just one or two.
a)
Diversify
b)
Variable investing
c)
Singular investing
d)
All of the above
21.
Sandy paid her credit card payment late so she could be charged what?
a)
Late fee
b)
Finance charge
c)
Interest
d)
All of the above
22.
A record of checks written and deposits made is called what?
a)
Passbook
b)
Budget
c)
Checkbook ledger
d)
Receipt
23.
One someone buys a share in company, he or she is buying what?
a)
Bond
b)
Mutual fund
c)
Stock
d)
Dividend
24.
Sarah invested her money into four different investment opportunities instead of just one. What is this called?
a)
Mutual funds
b)
Money market fund
c)
Diversify
d)
Budgeting
25.
Frank wrote a check for $50 when he only had $45 in his checking account. When this happens it’s likely Frank will be charged a fee. What is it called when someone writes a check for more than the amount they have?
a)
Overdrawn
b)
Deposited
c)
Withdrawn
d)
None of the above
26.
The section on a check for writing what the check is paying for is called a memo.
a)
True
b)
False
27.
When someone doesn’t pay his or her bills at all or on time, it results in a lower credit history score.
a)
True
b)
False
28.
A person is charged interest on a credit card even when the bill is paid in full.
a)
True
b)
False
29.
A home, property, money invested can all be considered one’s assets.
a)
True
b)
False
30.
Money cannot be taken out of an Individual Retirement Account (IRA) until the age of 72.
a)
True
b)
False
31.
Certificate of Deposits (CD) is an account where a person can withdraw money at anytime without penalty.
a)
True
b)
False
32.
Money is refunded if one loses their travelers checks.
a)
True
b)
False
33.
The main difference between a bank and a credit union is its depositors own the credit union.
a)
True
b)
False
34.
Credit cards are good for emergencies and building a credit history.
a)
True
b)
False
35.
Someone who pays their credit card bill late could have their interest rate raised and be charged a service fee.
a)
True
b)
False
100 %
