WorksheetsFinancial Literacy
Total questions: 21
Worksheet time: 13mins
Name
Class
Date
1.
When you write a check from your checking account this is a:
a)
Credit added to your balance.
b)
Debit subtracted from your balance
c)
Credit subtracted from your balance.
d)
Debit added to your balance.
2.
A checking account is:
a)
An account where money can easily be deposited and withdrawn by means of checks, debit cards and ATM transactions.
b)
An interest bearing account where your deposit remains for a set period of time.
c)
A computer program that checks your email account.
d)
Ownership in a company.
3.
Reasons for making a budget include:
a)
To keep track of your income and expenses.
b)
To achieve your long term goals.
c)
To have a spending plan.
d)
All of the above choices are correct.
4.
The lowest amount of money shown on your credit card bill that must be paid every month is called the:
a)
late fee
b)
minimum payment
c)
credit limit
d)
previous balance
5.
How can a cardholder avoid paying interest on a credit card?
a)
. Do not pay anything.
b)
Pay the minimum balance every month.
c)
Pay the minimum payment after the due date
d)
Pay the balance in full every month.
6.
A detailed report of your credit history prepared by a credit bureau and used by a lender to determine creditworthiness is called a:
a)
Credit Report
b)
Credit Card
c)
Certificate of Creditworthiness
d)
Report Card
7.
What are rooms located on a college campus called?
a)
Home
b)
Dorm
c)
Apartment
d)
Loft
8.
Which situation shows a financially responsible citizen?
a)
Purchasing an expensive automobile you CANNOT afford.
b)
Only buying items that you CAN afford
c)
Throwing money out the window.
d)
Hiding your money under your mattress.
9.
Besides tuition, most colleges also charge their students for:
a)
Room and Board
b)
Extra Fees
c)
Textbooks
d)
All of the Above
10.
Which of the following is one of the main costs of college?
a)
Tuition
b)
Food
c)
Transportation
d)
Fitness Center
11.
If you don't have enough money to pay for a private college, you cannot attend that college.
a)
True
b)
False
12.
Grants are mostly available to students who:
a)
Have family financial need
b)
Have really good grades
c)
Have filled out the application
d)
Have talents in sports or arts
13.
The least expensive type of college is usually...
a)
Universities
b)
Community Colleges
c)
Technical Colleges
d)
Public colleges
14.
Money used to pay off education-related expenses, such as college tuition, room and board at the university, or textbooks, that you will have to pay back.
a)
Grant
b)
Loan
c)
Scholarship
d)
Savings
15.
Money or other aid given to a student, because of merit, need, etc., to pursue his or her education-related expenses, such as college tuition, room and board at the university, or textbooks, and there are stipulation on the money in order for the students to continue receiving the funds.
a)
Grant
b)
Loan
c)
Scholarship
d)
Savings
16.
Money awarded to somebody to fund education-related expenses, such as college tuition, room and board at the university, or textbooks, and depends on your financial need. Do not have to repay.
a)
Grant
b)
Loan
c)
Scholarship
d)
Savings
17.
How your grades are calculated?
a)
GPA
b)
4.0 System
c)
100 point system
18.
Work part-time on campus while enrolled.
a)
Scholarship
b)
Financial Aid
c)
Work Study
d)
Part-time Job
19.
What is a card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase?
a)
Credit Card
b)
Banking Card
c)
Debit Card
d)
Finance Card
20.
Who has the better credit score?
a)
Monthly income: $1900
Credit Card Payment: $48
Credit Card Balance: 3857
Car Loan Payment: $218
Two late car loan payments
Credit Card Payment: $48
Credit Card Balance: 3857
Car Loan Payment: $218
Two late car loan payments
b)
Monthly Income: $3,300
Credit Care Balance: Pays Full Balance
Student Loan Payment: $100
Credit Care Balance: Pays Full Balance
Student Loan Payment: $100
21.
May writes 5 checks and uses debit 8 times in one month. Which is the best bank for May?
a)
First City Bank
b)
Transnational Bank
c)
Hometown Bank
100 %
