WorksheetsFinancial Literacy
Total questions: 26
Worksheet time: 13mins
Name
Class
Date
1.
The amount of money that you make is called?
a)
net income
b)
gross income
c)
paycheck
d)
budget
2.
All of these are reasons why people are in debt except?
a)
They misuse credit cards
b)
They don't follow a budget
c)
They have checking accounts
d)
They don't invest their money
3.
Which of the following factors affects how much money you will accumulate in your savings account?
a)
How early you begin saving
b)
The interest rate you get on your investments
c)
How much money you set aside for savings/retirement
d)
All of the above
4.
An annual fee is charged by credit card companies when you don't make your payment on time
a)
True
b)
False
5.
APR stands for annual percentage rate
a)
True
b)
False
6.
Debit cards charge interest when you don't pay your bills off every month
a)
True
b)
False
7.
What is an expense?
a)
Something you want
b)
Something you make
c)
Something that you pay for
d)
Something that you win
8.
What is income?
a)
Something that you buy
b)
Something that you earn
c)
Something that you eat
d)
Something that you build
9.
All of these are standard deductions from you paycheck except
a)
Federal tax
b)
State tax
c)
Sales tax
d)
Social security
10.
The biggest deduction on a paystub is usually
a)
Medicare
b)
Social Security
c)
Local Tax
d)
Federal Tax
11.
Credit cards always charge interest
a)
True
b)
False
12.
The different levels of Federal Taxes are called
a)
Tax Sections
b)
Tax Levels
c)
Tax Brackets
d)
Tax Revenue
13.
Credit and Debit cards have how many numbers
a)
16
b)
15
c)
12
d)
8
14.
On a pay stub, YTD stands for
a)
Yearly Total Deduction
b)
Year To Date
c)
Your Total Debt
d)
Yearly Tax Deduction
15.
The sum total of all payments paid on a car loan is equal to the purchase price of the car
a)
True
b)
False
16.
Tax day is when?
a)
April 1
b)
March 20
c)
April 15
d)
The first day of March Madness
17.
Who has to file a tax return?
a)
Any one over the age of 21
b)
Any one over the age of 18
c)
Any one who is married
d)
Any one who works has a job and gets paid
18.
A credit card is better then a debit card because you can buy whatever you want with it?
a)
True
b)
False
19.
By law, lenders must charge all customers the same interest rate when they purchase the same items on the same day
a)
true
b)
false
20.
Skimming is?
a)
Using your credit card online
b)
Giving someone your credit information over the phone
c)
Stealing credit card information electronicially
d)
Using Paypal
21.
ATM stands for
a)
Automated Teller Machine
b)
Automated Tax Machine
c)
Automatic transaction Machine
d)
A Teller Machine
22.
A PIN number is what?
a)
Just digits that you pick
b)
Proper Individual Note
c)
Personal Identification Number
d)
Personal Insurance Number
23.
Sales tax is charged to all of the following items except what?
a)
cars
b)
new clothes
c)
technology
d)
food at the grocery store
24.
A big difference between credit and debit cards is
a)
Credit is a loan while debit is your money
b)
Credit can be used anywhere while debit cannot
c)
Credit cards look different than debit cards
d)
You must be 18 to have a credit card, but not a debit card
25.
A debit card charges interest
a)
true
b)
false
26.
Delaware County has a sales tax of how much?
a)
7%
b)
8%
c)
10%
d)
they do not have sales tx
100 %
