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WorksheetsMoney Matters- PreTest
Total questions: 15
Worksheet time: 23mins
What is a checking account?
What the bank uses to keep tabs on you.
Bank deposits designed for every day use.
A benefit you obtain by joining a particular bank.
An account that allows you to earn interest over time.
What are some benefits of having a checking account?
It allows you to become rich.
It can automatically pay your mortgage just by opening an account.
It allows you to earn credit.
It makes you a better person.
What is a savings account?
A business investment.
Bank deposits designed for every day use.
A college course.
An account that allows you to earn interest over time.
What is budgeting?
Spending all of your money.
Creating a plan to spend your income.
Saving money.
All of them above.
What are your expenses?
Games, Sports, and Clubs.
Restaurants and Movies.
Bills, Gas, Groceries, and Utilities.
All of the above.
What is income?
Income does not affect budgeting.
Income is how much you spend.
Income is how much you earn.
Income is how much money you save.
What is consumer awareness?
The understanding by an individual of their rights as a consumer concerning available products and services being marketed and sold.
Being aware of the things you don't buy.
Awarding consumers several options concerning a product.
The misunderstanding by an individual of their rights as a consumer concerning available products and services being marketed and sold.
What should you consider before buying something large or valuable?
Commitment.
If you really need it.
If you can't buy it in cash, don't buy it at all.
How much fun it will be.
What is buyers remorse?
Feeling unchanged after making a large purchase.
Feeling regret or concern after making a large purchase.
Concentrating on the benefits of your large purchase.
Feeling motivated to make another large purchase.
What does it mean to buy something "on credit"?
A promise to pay for an item later
A promise to fill out a credit card application
A promise to pay for an item upfront
A promise that you'll buy an item later.
Which of these will NOT boost your credit score using credit cards?
Applying for a credit card through your bank
Paying your minimum payment ONLY.
Paying down more than your minimum balance.
Having a different type of credit cards.
A credit card bill arrives on the 15th of the month; It is due on the 30th. When should you pay your bill to get the best results on your credit record?
The day it arrives in the mail.
Wait until a few days before it's due, then pay it.
You can wait until the 29th of the following month.
On time, but before the credit card company sends payment data to the credit bureaus.
What is a loan?
A sum of money that a bank or service gives you without having to pay back.
Money given to you by your bank when you filed taxes.
A sum of money that is borrowed from a bank that is expected to be paid back with interest.
Money you get paid for working.
What are the different types of loans?
Personal
Car
Student
All of the above
What happens if you do not pay back a loan in time?
If you are unable to pay, the bank forgives you.
The bank pays it for you.
The lender calls you requesting you pay the loans off, and the loan balance may increase as time goes on.
They increase the time you have to pay back without adding interest.
