Wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Unit 2 Review Fin Mgmt

Total questions: 38

Worksheet time: 32mins

Name
Class
Date
1.
It is better to use a debit card rather than a credit card when purchasing items online
a)
True
b)
False
2.
The cost of credit expressed as a yearly interest rate is known as:
a)
Annual Percentage Rate (APR)
b)
Annual Fee
c)
Penalty APR
d)
Introductory Rate
3.
Benefits of credit cards include:
a)
safe and convenient, bonuses are offered
b)
allows you to build a positive credit report
c)
needed for reservations and online shopping
d)
all of these
4.
The maximum amount you may borrow on a credit card is known as:
a)
creditworthiness
b)
credit report
c)
credit limit
d)
variable rate of credit
5.
How old to you have to be to apply for a credit card?
a)
21
b)
18
c)
16
d)
25
6.
What is an introductory rate?
a)
An introduction to the credit card 
b)
A fee charged
c)
The interest rate of a specified period. 
d)
A low interest rate offered for a limited time, usually for the first 3 to 6 months. 
7.
What is an annual fee? 
a)
The act of transferring money 
b)
A fee charged by a card issuer for being a card holder. 
c)
The days between the last statement and the current statement. 
d)
A fee charged to a cardholder's account once a payment is late. 
8.
Examples of penalty fees include:
a)
over-the-limit fee
b)
late payment fee
c)
returned payment fee
d)
all of these
9.
How can you avoid paying interest fees on your credit card?
a)
Only use it for groceries
b)
pay off the full balance, on time, each month
c)
you cannot avoid interest fees
d)
only use Discover
10.
What is one advantage of having a credit card?
a)
It prevents you from spending more than you earn.
b)
It allows you to make purchases without carrying lots of cash.
c)
It encourages you to budget your money wisely.
d)
It helps you pay off debts that you may have.
11.
What happens when you don't have enough money to pay for the things you charged?
a)
You end up owing less than the original amount of money you charged.
b)
You end up owing more than the original amount of money you charged.
c)
You end up owing the same amount of money you charged, it just takes a while to pay off.
12.
How do credit card companies make money?
a)
By charging late fees and interest to their customers.
b)
By making you pay an extra dollar on every purchase.
c)
By charging late fees and interest to stores and other businesses.
d)
By earning interest on the money they have saved up.
13.
The cost of borrowing money is referred to as 
a)
Interest 
b)
Annual Percentage Rate 
c)
Credit 
d)
Credit Line 
14.
for-profit financial companies and can be large or small, national or local.
a)
Credit Union
b)
Bank
15.
not-for-profit financial cooperatives that are typically small and local.
a)
Credit Union
b)
Bank
16.
Anyone can join?
a)
Credit Union
b)
Bank
17.
Fewer Products
a)
Credit Union
b)
Bank
18.
Less Accessible 
a)
Credit Union
b)
Bank
19.
Fewer Fees, Better Rates
a)
Credit Union
b)
Bank
20.
Shareholder Owned
a)
Credit Union
b)
Bank
21.
FDIC insured for up to $250,000
a)
Credit Union
b)
Bank
22.
NCUA insured for up to $250,000
a)
Credit Union
b)
Bank
23.

Banks and CUs make the majority of their money from

a)

interest on loans

b)

ATM fees

c)

account set up fees

d)

check cashing fees

24.

Banks typically get loans from the

a)

Federal Reserve

b)

House of Representatives

c)

Senate

d)

Congress

25.
Ann puts $300 in a bank account earning 4% interest.  How much will she earn in interest in 1 year?
a)
4
b)
8
c)
12
d)
16
26.

Where do you sign the check?

a)

2

b)

5

c)

6

d)

4

27.

I am writing a $40 check to Walmart for groceries. Where do I write Walmart on the check?

a)

5

b)

2

c)

6

d)

3

28.

Where do I write the date on the check?

a)

1

b)

2

c)

3

d)

4

29.

When you make a deposit are you adding money or subtracting money into your account?

a)

Adding money

b)

Subtracting money

30.

I am writing a $40 check to Walmart for groceries. Where do I write out groceries?

a)

2

b)

6

c)

5

d)

4

31.

Always use permanent ink when writing a check.

a)

True

b)

False

32.

It's okay to only write the money amount in numbers. You don't have to write it in words too.

a)

True

b)

False

33.

How many districts are there in the Federal Reserve System?

a)

6

b)

9

c)

12

d)

15

34.

When was the first Federal Reserve established?

a)

1776

b)

1907

c)

1913

d)

1933

35.

Which of the following is not one of the three responsibilities of the Federal Reserve System?

a)

lending money to consumers

b)

supervising banks

c)

conducting monetary policy

d)

providing financial services

36.

A Reserve bank is often called the "____________ bank."

a)

bankers

b)

people

c)

government

d)

federal reserve

37.

The goals of monetary policy do NOT include the promotion of

a)

maximum employment

b)

stable prices

c)

low taxes

d)

moderate long-term interest rates

38.

Inflation is a sustained increase in the general level of

a)

prices

b)

accounts

c)

income

d)

profit

Similar Resources on Wayground

Communication

42 questions

Communication

quiz

Worksheet

•

10th - 12th Grade

MACRO AND IED

40 questions

MACRO AND IED

quiz

Worksheet

•

12th Grade

Personal Finance Final Exam

35 questions

Personal Finance Final Exam

quiz

Worksheet

•

11th Grade

MTA: Networking Part 2

40 questions

MTA: Networking Part 2

quiz

Worksheet

•

KG - Professional Dev...

Entrepreneurship Midterm Study

43 questions

Entrepreneurship Midterm Study

quiz

Worksheet

•

9th - 12th Grade

Listening Skills

35 questions

Listening Skills

quiz

Worksheet

•

11th - 12th Grade

WISE Modules 1-9 Test Review

35 questions

WISE Modules 1-9 Test Review

quiz

Worksheet

•

9th - 12th Grade

Foundations of Government Unit I Exam

40 questions

Foundations of Government Unit I Exam

quiz

Worksheet

•

9th - 12th Grade