WorksheetsFinancial Literacy 6th Period
Total questions: 35
Worksheet time: 29mins
Name
Class
Date
1.
Some banks charge $20 or $25 penalty fee for checks you don't have enough money to cover.
a)
True
b)
False
2.
Money taken out of your checking account.
a)
withdrawal
b)
stop payment
c)
endorsement
d)
outstanding
3.
Where is the best possible place to store you PIN number?
a)
written on your card in marker
b)
written on a sheet of paper in your wallet
c)
written at home in your journal
d)
You should just remember the number and not have it written down anywhere.
4.
What is a debit card?
a)
it's like a check but comes out of your account automaically
b)
It's more convient than a check
c)
Your use your PIN number to make purchases
d)
all of the above
5.
A __________ is a log where you keep track of all your checking transactions.
a)
statement
b)
register
6.
What is a deposit?
a)
Money put into an account.
b)
Money invested in the stock market.
c)
Money taken out of an account.
7.
Which of the following is considered a withdrawal from an account?
a)
Paying expenses
b)
Transferring money to a different account
c)
Getting money from an ATM
d)
All of these are withdrawals
8.
A debit card allows you to make purchases and pay the money back at a later date
a)
True
b)
False
9.
Which of the following is NOT an example of a banking fee?
a)
Overdraft Fee
b)
Minimum Balance
c)
ATM Fee
d)
Deposit Fee
10.
If you don't have enough money to pay for a private college, you cannot attend that college.
a)
True
b)
False
11.
Besides tuition, most colleges also charge their students for...
a)
room & board
b)
extra fees
c)
books
d)
all of the above
12.
Which of the following is one of the main costs of college?
a)
Tuition
b)
Food
c)
Transportation
d)
Gym membership
13.
If someone cannot afford to pay for college, they can get...
a)
a rich grandma to pay
b)
denied acceptance
c)
insurance
d)
financial aid
14.
Scholarships and grants are available for many college students, and they...
a)
have deferred payment
b)
give students a job to help pay
c)
don't have to be paid back
d)
have a low interest rate
15.
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
16.
Taking out a student loan to pay for college means...
a)
you get it paid for free
b)
you have a high interest rate
c)
you have to pay it back later
d)
the school loans you money
17.
Daniela has a scholarship that pays for 75% of her tuition for all four years she attends college. What is the total amount the scholarship is worth if Lisa’s classes cost $12,000 per year?
a)
$48,000
b)
$36,000
c)
$50,000
d)
$10,800
18.
jobs on campus or at local organizations that pay toward tuition is which of the following?
a)
Work-Study
b)
Grants
c)
Scholarship
d)
Loan
19.
A ________ is often based on grade point average or other accomplishments
a)
Grant
b)
Scholarship
c)
Savings
d)
Loan
20.
Aracelia is going to school to study voice performance, and receives $1,000 per semester because she sings in the college choir.
a)
A scholarship
b)
A grant
c)
Work Study
d)
Loan
21.
What is the starting balance on this check register?
a)
4720.33
b)
4500.00
c)
4500.75
d)
4320.00
22.
What was the balance of the account at the end of the day on 7/24?
a)
4720.33
b)
4320.03
c)
5091.15
d)
4500.75
23.
On which day was the balance the highest?
a)
7/7
b)
7/15
c)
7/19
d)
7/20
24.
What happened on 7/5?
a)
a paycheck was deposited
b)
check #164 was written
c)
nothing
d)
the balance went up
25.
What is the balance on 6/25?
a)
1177.80
b)
1000.00
c)
1157.80
d)
320.55
26.
What does it mean to make a withdrawal?
a)
Find the amount of money in the account
b)
Add money to the account
c)
Subtract money from the account
d)
Write a check
27.
The bank issued card that deducts money directly from the checking account is
a)
debit card
b)
credit card
c)
savings account
d)
money market
28.
What is the second step in establishing credit?
a)
Get a credit card or small loan.
b)
Pay bills on time.
c)
Creditors submit positive information about accounts in good standing.
d)
Pay lower interest on borrowed money.
29.
What is included under credit history on a credit report?
a)
Dates started
b)
Liens
c)
Date of birth
d)
Late Payments
30.
What can low credit scores lead to?
a)
High interest rates.
b)
Denial of credit.
c)
Denial of employment.
d)
All of the above.
31.
Late payments can help create a high credit score.
a)
True
b)
False
c)
Maybe
d)
Nevermind
32.
Your credit score is based on..... (this was on our notes)
a)
35% payment history
b)
30% cash money
c)
100% of nada
d)
10% of income
33.
The number of Xbox games you've purchased is listed on your credit report.
a)
True
b)
False
34.
A credit score of 800 is considered _____
a)
Poor
b)
Fair
c)
Good
d)
Amazing
35.
A bad credit report cannot affect my chances for getting a job.
a)
True
b)
False
100 %
