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Banking Budgeting Credit

Total questions: 12

Worksheet time: 6mins

Name
Class
Date
1.

Which is an example of a restrictive endorsement?

a)

Edward Hogan

b)

Pay to Edward Hogan

c)

For Deposit Only, Edward Hogan

d)

Pay to the Order of Maureen Green, Edward Hogan

2.

Which is the best way to establish a good credit rating?

a)

pay cash for all expenses

b)

close all savings accounts

c)

always pay bills on time

d)

spend as much as possible

3.

Which form does an employee need from the employer in order to file federal and state income taxes?

a)

W-4

b)

W-2

c)

1040EZ

d)

tax table

4.

The amount of an employee's paycheck after the employer subtracts taxes and other deductions is which type of income?

a)

discretionary income

b)

gross income

c)

net income

d)

fixed income

5.

Dashun receives his bank statement at the end of the month. All of the checks he had written appeared on the bank statement except for check #145. This check is

a)

an outstanding check

b)

a cashier's check

c)

a canceled check

d)

a traveler's check

6.

10. The Employee's Withholding Allowance certificate for your to fill out is also called the ____.

a)

1040EZ

b)

W-2

c)

W-6

d)

W-4

7.

Which item in a person's budget is considered a variable expense?

a)

entertainment

b)

insurance premiums

c)

car payments

d)

rent

8.

Checks that have been written, but have not been paid by the bank are known as

a)

cashier's checks

b)

traveler's checks

c)

outstanding checks

d)

canceled checks

9.

Which one of the following is an example of a neeed?

a)

Pizza

b)

Movie Ticket

c)

Nike Sneakers

d)

Housing

10.

Which of the following is an example of a want?

a)

Diamonds

b)

Housing

c)

Food

d)

Clothing

11.

Which one is NOT one of the 3 C's of Credit

a)

Character

b)

Caution

c)

Capacity

d)

Capital

12.

The cost of credit is the

a)

Amount of monthly payment

b)

Cash price

c)

Interest/Finance charge

d)

Buy now pay later