wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Personal Finance Final Review

Total questions: 55

Worksheet time: 43mins

Name
Class
Date
1.
The insurance protection agency that protects most credit union accounts up to $250,000 is called the...
a)
NACU
b)
FDIC
c)
FICA
d)
NCUA
2.
Bank accounts in most banks are protected by the FDIC by up to $_____.
a)
$100,000
b)
$150,000
c)
$200,000
d)
$250,000
3.
This type of for-profit financial institution is owned by its investors
a)
Credit Union
b)
Bank
4.
In regards to the make-up of your credit score, what percent of your score is based off of your payment history?
a)
35%
b)
30%
c)
15%
d)
10%
5.
Which of the following is NOT considered a credit bureau?
a)
Experian
b)
Expedia
c)
Transunion
d)
Equifax
6.
Which of the following debts cannot be erased if filing for bankruptcy?
a)
Medical debt
b)
Student loans
c)
Credit card debt
d)
Utility bill debt
7.
Which of the following types of student loans will the federal government pay the interest while the student is attending school?
a)
Subsidized
b)
Unsubsidized
8.
Liquidity is the availability of your money.
a)
True
b)
False
9.
Connected to the cardholder’s bank account and used for purchases.
a)
credit card
b)
debit card
c)
social security card
d)
insurance card
10.
Mortgages and car loans are considered _____ loans.
a)
Revolving credit
b)
Unsecured
c)
Secured
d)
Store credit
11.
Your credit score can also be called __________. (Select all that apply.)
a)
Creditworthiness score
b)
FICO score
c)
 Lending score
d)
Beacon score
12.
When your paycheck automatically gets put into your bank account, it is better known as:
a)
Direct Deposit
b)
Deposit Slip
c)
Canceled Check
d)
Money Order
13.
What are the taxes that get taken out of your check?
a)
SS, Medicare, state Withholding, Federal withholding 
b)
Sales tax, Property tax, Income tax
c)
SS, Property tax, State Withholding, Sales Tax
d)
All of the Above
14.
You want to look for high interest rates on:
a)
interest-savings accounts
b)
car loans
c)
mortgage loans
15.
You should save ____ % of your monthly income.
a)
5
b)
10
c)
15
16.
The amount of money that policyholders must pay toward their own covered expenses before the insurance company pays any of the costs is known as _______________. 
a)
deductible
b)
provisions
c)
claim
co-insurance
d)
exclusions
17.
The amount borrowed is known as the ______.
a)
credit
b)
interest
c)
capital
d)
principal
18.
Cost of credit expressed as a yearly percentage 
a)
Mortgage
b)
Principal
c)
Annual percentage rate (APR)
d)
Finance company
19.
A financial intuition that is owned and operated by members to provide savings accounts and low interest loans is a
a)
Savings and loan
b)
Credit union
c)
Commercial bank
d)
Savings bank
20.
Amount of money a borrower must pay for the usage of someone else’s money
a)
Finance charge
b)
Unsecured loan
c)
Collateral 
d)
Interest
21.
This type of retirement account offered by employers to their employees allows them to set aside tax-deferred income.  Sometimes employers will even match the employee contribution up to a certain amount.
a)
mutual fund
b)
401(k)
c)
Roth IRA
d)
savings
22.
In general, the higher the potential return on an investment, the riskier the investment.
a)
True
b)
False
23.
What will you pay back if you borrow $
a)
principal only
b)
interest only
c)
interest and finance charges
d)
principal + interest
24.
Amount of pay you get after all payroll deductions are taken out, also called “take-home” pay
a)
Gross Income
b)
Net Income
c)
Annual Fee
d)
Credit
25.
The amount of income you have before taxes and other deductions are taken out.
a)
Paycheck
b)
Net Pay
c)
Gross Pay
d)
Minimum Wage
26.
Which form do you fill out when you get a job authorizing them to withhold money from each paycheck in order to pay your taxes at the end of the year?
a)
W-2
b)
1040EZ
c)
W-4
d)
Tax Return
27.
Comparison shopping helps consumers make informed decisions.
a)
True
b)
False
28.

How can you avoid paying interest on a credit card?

a)

Only pay the required minimum balance.

b)

Pay the full balance every monty

c)

Only use a credit card for cash advances

d)

Doesn't matter, Interest is always paid on a credit card.

29.
When money is withdraw from the bank account and the available balance goes below zero
a)
Micro-Finance
b)
Overdraft
c)
Government subsidies
d)
Share capital
e)
Loan Capital
30.
Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?
a)
$150
b)
$192
c)
$1350
d)
$1392
31.
It is best if you pay more than the minimum amount due on your credit card
a)
true
b)
false
32.

A document that states the amount of money earned and taxes paid throughout the previous year.

a)

W2

b)

W4

c)

YTD

d)

deductions

33.
For which tax deduction was $64.50 deducted from Antoine Smith's gross income?
a)
Social Security
b)
Medicare
c)
Federal Withholding Tax
d)
State Withholding Tax
34.
Why do you need to fill out a W-4?
a)
It lets your employer determine what kind of health insurance you need.
b)
It helps your employer determine what percentage of your income should be deducted for taxes.
35.

Credit scores can range from

a)

100-800

b)

0-1,000

c)

300-850

d)

500-1,000

36.

What is the TERM of a loan?

a)

The length of the loan

b)

The internet rate of the loan

c)

How much is owed overall

d)

How much is paid each month on the loan

37.
Having a low credit score can make it more difficult to: 
a)
Obtain a car loan. 
b)
Open a new credit card.
c)
Secure an apartment lease. 
d)
All of the above. 
38.
What is a co-signer?
a)
Someone who watches as you sign off on a loan to make sure you don't commit fraud
b)
Someone who signs off on a loan with you so you know how to do it yourself later on
c)
Someone who agrees to make payment on the other person's debt should that person default.
39.

Which of the following will help you boost your credit score?

a)

Pay the minimum balance each month

b)

Wait until later in life to establish credit so you don't make mistakes

c)

Pay off your credit card balance every month

d)

Being young and having not ever used credit

40.
A quick way to estimate the amount of time it will take for your money to double when placed in a savings account at a given interest rate. 72 divided by interest rate.
a)
Rule of 27
b)
Rule of Doubles
c)
20/10 Rule
d)
Rule of 72
41.
According to this credit card statement, how much money should be sent to avoid any finance charges?
a)
$1,687.10
b)
$42.50 
c)
$1,092.65 
d)
Unknown
42.
Which type of financial institutions typically charges the lowest interest rates for loans?
a)
credit unions
b)
commercial banks
c)
saving and loans
d)
car dealerships
43.
Which of these laws requires that consumers be fully informed about the cost of credit?
a)
Fair Credit Reporting Act
b)
Fair Credit Billing Act
c)
Truth-in-Lending Act
d)
Equal Credit Opportunities Act
44.
Pay Yourself First (PYF) means
a)
all bills get paid before any saving
b)
savings is a variable expense
c)
thinking of savings as the most important fixed expense
d)
save what is left over at the end of the month
45.
Renters insurance includes coverage for:
a)
the building/dwelling
b)
personal property
c)
water damage
d)
personal medical expenses
46.

In general, as your premium increases,

a)

Deductible decreases

b)

Deductible increases

c)

Monthly cost decreases

d)

Coverage decreases

47.

The out of pocket cost to the insured when a loss occurs is called...

a)

Premium

b)

Deductible

48.

A stone hits your windshield. Which type of coverage would likely cover this expense?

a)

Collision

b)

Liability

c)

Comprehensive

d)

None

49.

What factors impact the cost of your auto insurance premium? (hint: choose 3 correct answers)

a)

Deductible amount

b)

The vehicle you are insuring

c)

Your credit score

d)

Your income

50.

Your health insurance copay is

a)

Amount paid out of pocket before your insurance coverage

b)

Paid by the insurer

c)

Applied on an annual basis

d)

A fixed amount of money you pay each time you use your plan

51.

Who primarily uses our tax money? (hint: choose 2 correct answers)

a)

Your employer

b)

The state government

c)

The Federal government

d)

Local Businesses

52.

The more allowances you claim on your W-4...

a)

The more money is withheld from your paycheck

b)

The less money is withheld from your paycheck

c)

The # of allowances doesn't impact how much $ is withheld

d)

You claim allowances on a W-2, not the W-4

53.
How many hours in a work week?
a)
44
b)
43
c)
40
d)
45
54.
What is overtime pay?
a)
hours you work because you want them
b)
hours that you work after your regular hours
c)
money hours
55.

Revolving credit is...

a)

a type of credit that can be used repeatedly up to a certain limit as long as the account is open and payments are made on time.

b)

a type of credit that can be used only once up to a certain limit and must be closed immediately after all payments are due

c)

a spinning door with money in it

d)

a round device that holds credit cards and spins, making it easy to shuffle through all your credit cards quickly

Similar Resources on Wayground

Unit 6 Review

60 questions

Unit 6 Review

quiz

Worksheet

•

11th - 12th Grade

Foods 1 Review_Final Review

60 questions

Foods 1 Review_Final Review

quiz

Worksheet

•

9th - 12th Grade

Layers of Immune System Knowledge Check

50 questions

Layers of Immune System Knowledge Check

quiz

Worksheet

•

12th Grade

Your life after high school...

50 questions

Your life after high school...

quiz

Worksheet

•

10th - 12th Grade

Ag Systems Exam

50 questions

Ag Systems Exam

quiz

Worksheet

•

9th - 12th Grade

MCJROTC Cadet Private First Class (PFC) Promotion Test

50 questions

MCJROTC Cadet Private First Class (PFC) Promotion Test

quiz

Worksheet

•

9th - 12th Grade

Unit 1 Review

60 questions

Unit 1 Review

quiz

Worksheet

•

11th - 12th Grade

Digestive System Review

60 questions

Digestive System Review

quiz

Worksheet

•

9th - 12th Grade