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WorksheetsBudget or Bust!
Total questions: 22
Worksheet time: 11mins
Name
Class
Date
1.
Expenses that generally stay the same each month are said to be
a)
void
b)
flexible
c)
fixed
d)
net income
2.
Income before taxes or deductions are taken out
a)
net
b)
fixed
c)
gross
d)
collateral
3.
A check ___ records deposits, withdrawals, and charges.
a)
register
b)
net
c)
endorsement
d)
interest
4.
When a check is never sent or given, it is ___
a)
void
b)
fixed
c)
gross
d)
flexible
5.
Every month, these expenses vary.
a)
fixed
b)
flexible
c)
net
d)
gross
6.
Money the lender charges the borrower.
a)
net
b)
interest
c)
budget
d)
check
7.
To bring the bank statement and the check register into agreement:
a)
interest
b)
void
c)
reconcile
d)
budget
8.
A plan that considers income, spending, and expenses
a)
budget
b)
gross
c)
flexible
d)
endorsement
9.
The income you have to spend after taxes and deductions are taken out.
a)
endorsement
b)
fixed
c)
net
d)
void
10.
A paper order telling the bank to pay someone from an account.
a)
check
b)
fixed income
c)
flexible expenses
d)
budget
11.
If you want to purchase something but pay the price out later, you can use
a)
credit
b)
collateral
c)
security interest
d)
acceleration
12.
Putting up goods or property that guarantee you will repay a loan
a)
collateral
b)
security interest
c)
debt
d)
credit
13.
Buying a "big-ticket" item usually requires a
a)
down payment
b)
delinquency charge
c)
balloon
d)
co-signer
14.
When a person says he will pay a loan for another person who can't repay it.
a)
loan shark
b)
co-signer
c)
delinquency charge
d)
security interest
15.
A contract with this final payment that is larger than monthly payments.
a)
balloon
b)
down payment
c)
Truth in Lending Law
d)
Credit rating
16.
If a person does not make payments for an item, the lender can ___ the item.
a)
repossess
b)
void
c)
accelerate
d)
balloon
17.
Added debt because a payment is missed
a)
delinquency charge
b)
collateral
c)
APR
d)
Security interest
18.
When failure to make one payment makes the balance due immediately.
a)
acceleration
b)
APR
c)
collateral
d)
balloon
19.
A score given according to factors like revolving debt, late payments, etc.
a)
credit rating
b)
security interest
c)
collateral
d)
delinquency charge
20.
Lenders have to disclose all information to the borrowers.
a)
Truth in Lending Law
b)
APR
c)
Acceleration
d)
Security interest
21.
The interest rate paid yearly on a loan
a)
APR
b)
credit
c)
debt
d)
acceleration
22.
If a person agrees to buy property but doesn't pay, ownership can revert back to the seller.
a)
security interest
b)
collateral
c)
acceleration
d)
delinquency charge
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