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Banking & Finance PreTest

Total questions: 25

Worksheet time: 13mins

Name
Class
Date
1.

My family is going on vacation this summer, so we are sticking to a ______ to save money.

a)

Income

b)

Savings

c)

Budget

d)

Expenses

2.

An 8th grader makes and sells earrings as a way to earn extra money. The money she gets is considered _______.

a)

Needs

b)

Wants

c)

Income

d)

Expenses

3.

When I use my debit card at the store, the money is automatically taken out of my ______ account.

a)

Savings

b)

Checking

c)

Inflation

d)

Withdraw

4.

When I need to ______ money from my checking account, I can use my debit card at an ATM.

a)

Overdraw

b)

Inflation

c)

Balance

d)

Withdraw

5.

Putting money into the bank is called a...

a)

deposit

b)

loan

c)

interest

d)

withdrawal

6.

Taking money out of an account is called a...

a)

deposit

b)

loan

c)

interest

d)

withdrawal

7.

What are two types of bank accounts?

a)

credit and debit

b)

checking and savings

c)

business and school

8.

Liam wants cash from his bank, but it is closed, He will use the ATM. What will he use?

a)

credit card

b)

debit card

c)

savings account

9.

Jacayla wants to buy lunch for her friends but doesn't have any cash, and the restaurant will not take a check.

a)

debit card

b)

checking account

c)

online banking

10.

This payment method allows you to make purchases when you don't have enough money available.

a)

Cash

b)

check

c)

debit card

d)

credit card

11.

If you lose it, there is no way to get it back.

a)

cash

b)

check

c)

debit card

d)

credit card

12.

Generally safer than cash, especially when mailed.

a)

cash

b)

check

c)

debit card

d)

credit card

13.

Which is greater? Gross income or net income?

a)

Gross Income

b)

Net Income

14.

P.I.N. stands for?

a)

Personal Image Network

b)

Personal Identification Number

c)

Personal Identification Network

15.

What currency do we use in the United States?

a)

Euro

b)

Peso

c)

Cash

16.

This card is linked to your bank account?

a)

debit card

b)

credit card

c)

prepaid card

17.

This card gives you access to a line of credit?

a)

Prepaid card

b)

debit card

c)

credit card

18.

This card is not linked to a bank account?

a)

debit card

b)

credit card

c)

prepaid card

19.

What are the different credit card systems? (Check all that apply).

a)

American Express

b)

Discover

c)

Visa

d)

Mastercard

20.

Before money, people did what to get the things they needed? (check all that apply)

a)

bartered

b)

traded

c)

sold

d)

nothing

21.

Which government agency is responsible for creating and tracking all of the money in the United States?

a)

Bank

b)

President

c)

Federal Reserve

d)

Federal Taxes

22.

What are the two parts of a budget?

a)

Income; Revenue

b)

Debit; Credit

c)

Income; Expense

d)

Gains; Losses

23.

A deduction is sometimes called......?

a)

deductible

b)

withholding

c)

subtract

d)

expense

24.

What is another word for endorse?

a)

endorsement

b)

check

c)

sign

d)

cash

25.

How you do calculate your net pay?

a)

Gross pay + deductions

b)

Gross pay + expenses

c)

Gross pay - deductions

d)

Net pay - deductions