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WorksheetsBanzai's Post Test Review
Total questions: 25
Worksheet time: 13mins
You want to treat yourself to some soul food. The total comes to $16.97. If you add on a 20% tip, what's lunch going to cost you?
$18.49
$17.43
$20.36
What is a checking account?
A share in a corporation that gives you a stake in the company and its profits.
An account where the depositor can write checks.
A sum of money to be used for a particular purpose.
What is a budget?
A sum of money to be used for a particular purpose.
A list of things you want.
The same thing as a savings account.
What is a savings account?
An account that allows you to borrow money at a rate of interest.
An account where money is stored and returns a low interest rate.
The same thing as a checking account.
What is it called when you spend more than you have?
Withdrawl
Transfer
Debt
You want to attend a concert this summer; what's the best way to get or be able to afford a few tickets?
Add "Entertainment" to your budget and allocate some cash there each week.
Put it on your credit card.
Take money from your other budget categories until you have enough.
You receive your bank statement. You had a balance of -$55.96. You then made a deposit of $207.74. What is you new balance?
$316.95
$263.70
$151.78
What happens if you try to use your credit card after you've already met your credit limit?
Your card will get declined.
Your bank or credit union will issue a "bad check" notice.
A document published by your bank or credit union that details all transactions for the month, is called a _______ .
Overdraft
Withdrawl
Deposit
Statement
An amount of money placed into a savings or checking account, is a/an ________________ .
Overdraft
Statement
Deposit
Withdrawl
A check that has been honored and processed is called a/an __________________ .
Hot Check
Cleared Check
Overdraft
Checking Account
What is a credit card?
A card that lets you buy goods and services based on a promise to pay later.
A card that charges monthly interest if the balance is not paid in full.
Both answers above.
You are at the mall and see a pair of shoes you want for $150. Your updated bank statement show an ending balance of $123.75; can you afford the shoes?
Yes
No
What is the total amount of debits for this statement?
$950.00
$529.36
$750.00
What is an overdraft fee?
A fee for maintaining your account.
A state tax.
A fee for overspending.
You parked in a handicap parking space and your car was towed. What budget account should you take out the amount needed to pay your citation for parking illegally.
Utilities
Reserves
Entertainment
Car
What is it called when you remove money from your checking or savings account?
Withdrawal
Deposit
Overdraft
What is a debit card?
A card that lets you buy goods and services based on a promise to pay later.
It is like a credit card, but it takes money directly from your checking account.
A card which you may only make online purchases with.
The following are all benefits of opening a checking account, except ...
It's a safe place to store your money.
It allows you to use a debit card, vs. carrying around lots of cash.
It makes it easier for you to get paid and/or pay others.
It allows you to repeatedly write checks for amounts that exceed the amount you have in the bank, with little or no consequences.
You receive $300; how do you keep track of it?
Put it in your savings account.
Stick it under your pillow.
Budget it by splitting it among your current and future expenses.
You forgot that you wrote a check for $150 on Jan. 11th for a speeding ticket. This statement was printed before the check cleared. How much money do you really have in your account?
$254.95
$242.21
$316.95
$104.95
Why does your employer withhold money from you on each paycheck?
To make up hours of work you missed.
Because she's not a very nice person.
To pay federal and state taxes.
Which of the following are considered necessary costs of car ownership?
Gas, insurance & maintenance.
Car payment. registration & rims.
Insurance, registration & tinting.
This occurs when withdrawals have gone over the available amount.
Statement
Deposit
Overdraft
Withdrawal
Which of the following is an example of utility costs?
Your grocery bill
Your electric & heating bill
Your cell phone bill
Your college fund
