WorksheetsUnit 4 Questions
Total questions: 25
Worksheet time: 2hrs 5mins
Borrowing money to buy something and promising to pay it back later is called
Banking
Credit
Taxes
None of these
A credit score is
how well you pay off your credit and other bills
how much money you have in the bank
how much you need to pay in taxes
how well other people pay you
Why do you want to have good credit?
lower interest rates
more credit
Both of these
Neither of these
If you pay your bills on time and don't carry much debt, your credit score goes
Up
Down
If you don't pay your bills on time and buy too much with a credit card, your credit score goes
Up
Down
True or False: You don't have to pay back money you spend on a credit card
True
False
True or False: Credit cards and debit cards are the same
True
False
You want to purchase a new vehicle and you have your heart set on a brand new SUV. You take out a loan to pay for the car, but after six months you begin to fall behind on payments and incur late fees. Because of this your credit score goes
Up
Down
Your first semester of college, you take out a small loan to help pay for books. Despite being busy, you get a part time job. Although you don’t have to pay your loan back until you graduate, you’ve saved enough by the end of the semester and you will pay off the loan in full. Because of this your credit score goes
Up
Down
What are the three different types of banks?
Commercial; Debit; Credit
Commercial; Savings and Loans; Credit Union
Commercial; Credit Union; ATM Card
Chase Bank; PNC Bank; TCF Bank
Mike buys a used car at a dealership. He writes a check for $8,000 to pay for it. Mike is using what kind of bank account?
Savings Account
Certificate of Deposit
Money Market Account
Checking Account
Hadeel wants to put her money in the bank and earn interest. What kind of account should she use?
Checking Account
Money Market Account
Savings Account
None of these
Mr. Conte goes to the bank and deposits $1000 and promises he will not use any of the money for a year. This is what kind of bank account?
Checking Account
Savings Account
Certificate of Deposit
Money Market Account
Sarah goes to the bank and asks them to put her money into an account where the bank will invest the money in the market. What kind of account does she want?
Savings Account
Checking Account
Money Market Account
Certificate of Deposit
Why do banks pay interest?
It's a payment by the bank for letting them use your money
Banks use the money to give other people loans
Both of these
None of these
Which of these is NOT something taxes are used to pay for?
Schools
Police
Defense
Vacations
What are the 3 forms of taxes?
Progressive, Regressive, Flogressive
Progressive, Regressive, Proportional
Flat, Round, Square
None of these
The income tax is an example of this kind of tax
Progressive
Regressive
Proportional
None of these
When Yahya goes to the store and buys a t-shirt, he has to pay an extra sales tax. The sales tax is what kind of tax?
Progressive
Regressive
Proportional
None of these
A tax that's the same for everyone no matter how much you make is called what?
Progressive
Regressive
Proportional
None of these
What type of tax do you pay when you own a home?
Income tax
Property tax
Sales Tax
Social Security tax
What type of tax do you pay when you buy something at the store?
Income tax
Property tax
Sales Tax
Social Security tax
What type of tax takes a percentage of the money you make on a job?
Income tax
Property tax
Sales Tax
Social Security tax
What type of tax goes to help pay for retirement?
Income tax
Property tax
Sales Tax
Social Security tax
What is the name of the agency that collects taxes in the United States?
Secret Service
Federal Bureau of Investigation
Internal Revenue Service
Department of Energy
