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MYC quiz

Total questions: 12

Worksheet time: 6mins

Name
Class
Date
1.

Mastercard

a)

Is a bank that issues cards, gives out loans, and monitors your finances

b)

Is a technology company that builds, safe, smart, and simple ways to pay for things

c)

Is a credit union that offers credit and loans at low interest rates

2.

Credit Card

a)

You pay for things with money that comes from your checking account

b)

You pay for things with money that you have loaded onto the card in advance

c)

You pay for things with money that you borrow from a bank

3.

Prepaid Cards

a)

You pay for things with money that you load onto it

b)

Can be reloaded many times

c)

Are sold to you by MasterCard

d)

Help build your credit score

e)

Are sold at your local convenience store

4.

Cards are safer than cash because

a)

Real time tracking of your money with online or mobile apps

b)

MasterCard provides you with bodyguards

c)

You are protected against loss or theft

d)

Safer to carry than a wad of cash

e)

They're more hygienic

5.

Good Credit Scores

a)

Get you approved for loans and the best interest rates, potentially saving you a lot of money

b)

Help lower your federal and state taxes, saving you a lot of money

c)

Make your credit card pay faster, saving you time

d)

Increase the total amount in your checking account at a bank, allowing you to spend more

6.

Prepaid Gift Cards

a)

A prepaid card with unlimited funds for a particular store

b)

A prepaid card that is not reloadable. I can use it until I spend all the money in it

c)

A prepaid card your bank gives you as a reward for your credit score

7.

Zero Liability

a)

Cardholders are entirely responsible for the charges they didn't make

b)

Cardholders are entirely protected from charges they didn't make

c)

If cardholders lose their card even once, their account gets permanently suspended

d)

Cardholders will receive full refunds from MasterCard for charges they didn't make

8.

Master Your Card

a)

An education program that tells communities how to get the most from their money using payment cards.

b)

An education program that tells communities how to get the most from their money by creating their own payment cards from scratch

c)

An education program that tells communities how tells communities how to get the most from their money by using cash

9.

Cards are more convenient than cash because..

a)

Online, mail or over the phone shopping

b)

Pay for things anytime, anywhere

c)

Easier and cheaper than visiting an ATM to get cash

d)

Debit cards require you to set up a bank account

e)

They are accepted more in the developing world

10.

Low Credit Score

a)

Hurts your chances of buying prepaid cards

b)

Hurts your chances of borrowing money to buy a place or a car, or even getting a job.

c)

Prevent you from receiving government benefits

11.

Debit Cards

a)

Funds are deducted directly from your checking account

b)

Are an easy way to budget and keep track of spending

c)

Help build your credit score

d)

Funds are borrowed from a bank or financial institution

12.

What is the most secure form of payment?

a)

Cash

b)

Checks

c)

Electronic Payments Technology