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WorksheetsLifetime Vocab Pre-test
Total questions: 22
Worksheet time: 12mins
Money borrowed from a bank.
debt
loan
budget
expense
The fee for borrowing and using someone else's money.
expense
interest
interest rate
income
A plan for future spending and saving, weighing estimated income against estimated expenses.
income
cost comparison
budget
cost benefit analysis
Money owed, usually as a result of borrowing.
debt
expense
income
interest
This type of interest "creates a mathematical explosion," and it can make you wealthy over time, or keep you in debt for a long time.
compound
simple
annual
Which budget item will most likely take up the largest percentage of your income at 25-30%?
transportation
housing
groceries
saving/investing
What is this called?
A Check
A credit card
A debit card
Money Order
True/False:
Using a credit card takes money out of your bank account.
(a)
What is this?
Credit history
Credit card
Credit score
None of the above
When opening a savings account or planning your budget, which unexpected expenses should you consider?
home repair
car repair
medical expenses
all of the above
To put money into a bank account.
withdrawal
deposit
savings
cost
To take money out of the bank to use.
sabing
deposit
cost
withdrawal
What is the machine that allows you to withdraw money from your bank account?
(a)
The amount you pay for insurance coverage.
Premium
Deductible
Co-Pay
Policy
The amount of money you must pay upfront/out of pocket before your insurance coverage begins to pay.
Premium
Deductible
Co-Pay
Policy
The amount of money you earn from your job is called your ____________
pay
check
income
gross pay
Any time worked over your regular time is called ____________
overtime
after hours
extra pay
bonus pay
The current minimum wage is...
(a)
