NEW
Font size
WorksheetsBanking and Using Credit
Total questions: 17
Worksheet time: 18mins
If you know the unit price of an item, you are better able to:
Compare the prices of two brands
Estimate how much you will need
Determine the total cost of the purchase
Figure out the discount during a sale
Income earned on an hourly basis is called a:
Salary
Stipend
Wage
Benefit
Which factor has the biggest impact on a credit score?
Length of credit
Amount owed
Type of credit
Payment History
Ashley wants to use money from her checking account to make a purchase. Which payment method should she use?
Credit Card
Debit Card
Prepaid Card
Direct Deposit
What is the best strategy for avoiding credit card interest?
Pay the full balance each month
Skip payments
Pay the minimum balance
Make payments online
A ________________ is usually paid on a biweekly or monthly basis for professional employment
Stipend
Salary
Wage
Benefit
What is the problem with paying only your minimum credit card balance each month?
. It lowers your credit score
You have to pay interest
The bank will cancel your credit card
All of the above
The amount of money you borrow from a lender (the non-interest portion)
Loan
Interest Rate
Principal
Amortization
The fee a lender charges to borrow money
Payday loan
Gross Pay
Principal
Interest
Definition of "Loan"
an account that gains interest
a sum of money, that is borrowed, which is expected to be paid back with interest
a card that transfers money directly from your checking account
a plan to deposit pay directly into your checking account
What are some rules to live by when using Credit Cards?
Keep records in case you need to dispute any discrepencies
Monitor your credit at least once a month
Do NOT have more than 4-5 credit cards at one time
All of the above
A __________________ is for everyday use to pay bills and make purchases
Savings Account
Payday Loan
Checking Account
Roth IRA
A ________________________ is used for saving money.
Savings Account
Payday Loan
Checking Account
Roth IRA
This is used to transfer money to a seller directly from your checking account
Credit Card
Prepaid Card
Cash
Debit Card
A card that is used to borrow money from a bank or credit union.
Credit Card
Prepaid Card
Cash
Debit Card
True or False: Using a credit card responsibly can negatively affect your future
True
False
I'm glad we learned about credit and loans this week and it will help me in the future.
Very much agree
Agree
Disagree
You are crazy, Coach
