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WorksheetsPersonal Finance
Total questions: 25
Worksheet time: 18mins
Name
Class
Date
1.
What happens if you do not pay a credit card bill on time?
a)
Use your debit card
b)
You go into debt
c)
Declare bankrupty
d)
Pay interest
2.
What is the safest way to pay for an item to avoid debt?
a)
Cash
b)
Check
c)
Credit
d)
Debit
3.
Which card takes the money out of your account immediately?
a)
Credit
b)
Debit
4.
When do you start paying into Social Security?
a)
When you retire
b)
When you turn 30
c)
When you get a full-time job
d)
When you want to
5.
What is the riskiest type of bond?
a)
Municipal
b)
Savings
c)
Corporate
6.
Which bank account earns you the most interest?
a)
Savings
b)
Checking
c)
Certificate of Deposit
7.
Who pays interest on a loan?
a)
The borrower
b)
The bank
8.
Who pays interest when you deposit money in the bank?
a)
The depositor
b)
The bank
9.
To measure the stock market as a whole people look to
a)
Dow Jones
b)
Stockbrokers
c)
Individual stocks
d)
Unemployment rate
10.
Stock brokers can a portion of the profit they make, this is called
a)
Commutation
b)
Interest
c)
Commission
d)
S&P 500
11.
Bad credit can affect your ability to
a)
Buy a home
b)
Get a job
c)
Get a loan
d)
All of the above
12.
Amount of money originally borrowed
a)
Mortgage
b)
Principal
c)
Annual percentage rate (APR)
d)
Finance company
13.
What will you pay back if you borrow $
a)
principal only
b)
interest only
c)
interest and finance charges
d)
principal + interest
14.
A savings account with a specific time period
a)
Savings Account
b)
Checking Account
c)
Certificate of Deposit (CD)
d)
Bond
15.
Which of the following is an example of a fixed expense?
a)
Rent
b)
Groceries
c)
Gas
d)
Clothes
16.
The least amount of money you can pay on a credit card per month.
a)
Credit Limit
b)
Minimum Payment
c)
Annual Percentage Rate
d)
Opportunity Cost
17.
What do debit cards and checks have in common?
a)
The money comes directly out of your account
b)
You can pay the full amount later
c)
You are really taking out a small loan
18.
The agreement to receive cash, goods or services now and pay for them later.
a)
Check
b)
Debit
c)
Credit
d)
Late Fee
19.
Which of the following best describes what dividends are?
a)
The increased value of a stock.
b)
A periodic payment to the owners of a stock.
c)
A reward for selecting good stocks.
20.
Money owed to a person or a business
a)
Debit
b)
Credit
c)
Debt
d)
Late Fee
21.
This financial institution charges the most for interest but provides quick cash
a)
credit union
b)
savings and loan
c)
bank
d)
pay day loan company
22.
Buying stock through mutual funds is less risky than buying individual small pieces of many companies at a time because
a)
you diversify your risk by buying small pieces of many companies at a time
b)
inflation is less likely to erode your investment
23.
In general, the higher the potential return on an investment, the riskier the investment.
a)
True
b)
False
24.
If a bank pays 3% interest on savings, how much interest will it charge for loans?
a)
3%
b)
less than 3%
c)
more than 3%
d)
the discount rate
25.
The amount of money you make per year
a)
Monthly income
b)
Annual income
c)
Monetary
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