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WorksheetsBiztown Unit 1 Review: Financial Literacy
Total questions: 14
Worksheet time: 7mins
Which is NOT a way to pay for a product or service?
check
debit card
credit card
deposit ticket
Where can you put your money into an account and take money out when needed?
bank
credit union
online bank
all of the above
The balance in your account is...
the amount of money you've spent
the amount of money you currently have
the interest rate
how many checks you've written
What's the major difference between a debit card and a credit card?
A debit card can build up interest.
A credit card requires a PIN number to take money out.
A debit card takes money out of your account immediately, and a credit card loans it from the bank until you pay it back.
None of the above.
Which account usually earns interest and is used to hold money that is not needed right away?
savings account
checking account
Which account is usually used to pay bills and supply money for your debit and credit card purchases?
savings account
checking account
What is a transaction?
the exchange of money: giving money or getting money
a company that sells goods
a person who works at a bank
a credit card
What are the two ways to be paid?
by credit card or check
by deposit ticket or direct deposit into your account
by paycheck or direct deposit into your account
none of the above
What is interest?
how much money you have in your account
a fee you have to pay the bank when you loan money OR a fee you receive for keeping money in a savings account
the extra money received for work
What is the term called for the amount of money you earn for your work?
income
balance
interest
loan
What must you do to a check you receive before the bank will accept it?
endorse (sign your signature) on the front
write your account number on the front
write the date on the front
endorse (sign your signature) on the back
If you receive a check and take it to your bank, what are the 2 options you have?
get cash or put the money into your checking or savings account
get cash or put the money on a credit card
put the money into your checking or savings account or put the money on a debit card
What is a transaction register used for?
Calculating the interest earned from your savings account,
Lowering the amount of transactions you make.
Keeping track of your account balance--what money you both removed from and deposited into your account.
Which statement is correct?
A payment is a debit and a deposit is a credit.
A payment is a credit and a deposit is a debit.
