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Consumer math and banking basics

Total questions: 49

Worksheet time: 53mins

Name
Class
Date
1.

Sally goes to the bank. She puts her babysitting money in her account. Sally has made a

a)

Deposit

b)

Withdrawal

2.

Katie goes to the bank. She takes money out of her account. Katie has made a

a)

Deposit

b)

Withdrawal

3.

Robby goes to the bank and puts his weekly allowance into his account. Robby has made a

a)

Deposit

b)

Withdrawal

4.

Shelly went to the bank and took money out of her account. Shelly has made a

a)

Deposit

b)

Withdrawal

5.

How much is the check worth?

a)

$5

b)

$50

c)

$500

d)

$0

6.
What should be written on line 2?
a)
the date
b)
the amount of the check
c)
who the check is going to
d)
your signature
7.
What should be written on line 6?
a)
the date
b)
the amount of the check
c)
who the check is going to
d)
your signature
8.
To put money $$ in the bank, is called:
a)
WITHDRAWAL
b)
DEPOSIT
c)
INVEST
d)
WRITE A CHECK
9.
To take money OUT of your account, is called:
a)
WITHDRAWAL
b)
DEPOSIT
c)
TRUST
d)
STEAL
10.

What does a bank do for you?

a)

Keep your money safe while allowing you access to it

b)

Charge you interest on the money they keep for you

c)

Shine your shoes

d)

Give you money when you ask politely

11.
This account allows you to deposit money at a bank for safekeeping.
a)
Saving Account
b)
Checking Account
c)
Bill Account
d)
Casino Account
12.
This account allows you to withdraw money, pay a bill, or make purchases easily.
a)
Checking Account
b)
Savings Account
c)
Market Money Account
d)
CD Account
13.
This allows you to withdraw cash from your account or make payments electronically.
a)
Debit Card
b)
Loan Account
c)
Signature Card
d)
Payday card
14.
This action allows movement of funds from one account to another.
a)
Transfer
b)
Debit
c)
Credit
d)
Loan
15.
This is the cost of using some other person's or bank's money.
a)
Interest
b)
Bill
c)
Principal
d)
Credit
16.
Who works in a bank?
a)
teacher
b)
doctor
c)
teller
d)
receptionist
17.
What is it?
a)
ATM
b)
cash
c)
car
d)
bank
18.

ATM stands for:

a)

automated teller machine

b)

automated time machine

19.
The least amount that must be paid on a credit card each month is
a)
Late Fee
b)
Credit Limit
c)
Payment amount
d)
Minimum Payment
20.
The credit company can charge interest if the credit card bill is not paid in full by the due date
a)
True
b)
False
21.

Generally, what percentage should you tip for excellent service?

a)

5%

b)

15%

c)

20%

d)

25%

22.

T or F: It is okay not to leave a tip if you do not like your food?

a)

true

b)

false

23.

You eat a Qdoba with your family. Is it expected you leave a tip?

a)

Yes

b)

No

24.

You go out to eat at McDonalds before Karate practice. Is it expected you leave a tip?

a)

yes

b)

no

25.

You go out to eat Olive Garden for your Grandpas birthday, is it expected you leave a tip?

a)

yes

b)

no

26.
A credit card is a source of free money.
a)
True
b)
False
27.
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
28.

Always use permanent ink when writing a check.

a)

True

b)

False

29.

Always include the month, day, and year when writing the date.

a)

True

b)

False

30.

It's okay to erase and use whiteout to fix mistakes on a check.

a)

True

b)

False

31.

It's okay to use a pencil or marker when writing a check.

a)

True

b)

False

32.

You can be charged a fee for using another bank's ATM.

a)

true

b)

false

33.

if you spend more money than you have in your account, your account will become:

a)

short of funds

b)

overdraft

c)

overdrawn

d)

underfunded

34.

If your account is overdrawn, you will be charged what kind of fee?

a)

overdraw

b)

bounce penalty

c)

overdraft fee

d)

penalty fee

35.

Which of the following is TRUE about checks?

a)

You should endorse the back when writing a check

b)

The amount of money is written both numerically and in words

c)

Checks should show up on your statement within 30 days

d)

You should endorse the back when depositing a check

36.
Which one of the following are financial institutions?
a)
bank and credit union
b)
library and hospital
c)
school and museum
d)
Starbucks and Wal-Mart
37.
You can continue to write checks as long as you have check in your checkbook.
a)
True
b)
False
38.
All bank transactions should be recorded in the register
a)
True
b)
False
39.
Credit cards and debit cards are essentially the same thing.
a)
True
b)
False
40.
The longer the money is saved, the better
a)
True
b)
False
41.

What do we call a fee that is collected for using someone's money?

a)

Deposit

b)

Interest

c)

Loan

d)

Check

42.
Sales tax is __________ to the price
a)
subtracted
b)
added
c)
multiplied
d)
divided
43.
Discount is ____________ from the price.
a)
added
b)
divided
c)
subtracted
d)
Mr. Ed is very old
44.
Tips are __________ to the price
a)
subtracted
b)
added
c)
multiplied
d)
divided
45.
Find the tip amount on a $20 lunch if you leave a 20% tip.
a)
$ .40
b)
$ 2.00
c)
$ 4
d)
$ 24
46.
If you had a $20 lunch, and you tipped 20% (which is $4), how much did you pay total?
a)
$16
b)
$20
c)
$4
d)
$24
47.
Change 32% into a decimal.
a)
32
b)
3.2
c)
.32
d)
.032
48.
What is 82% As a decimal?
a)
82
b)
820
c)
0.082
d)
0.82
49.
Write 5% as a decimal.
a)
5
b)
0.5
c)
0.05
d)
0.005

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