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Financial Literacy

Total questions: 188

Worksheet time: 3hrs 9mins

Name
Class
Date
1.
Which one of the following are financial institutions?
a)
bank and credit union
b)
library and hospital
c)
school and museum
d)
Starbucks and Wal-Mart
2.
Which services is a bank likely to offer?
a)
net deposit and balance
b)
online banking and savings accounts
c)
check writing and car wash
d)
credit card and Tootsie Rolls
3.
What do we call the amount left over from your paycheck after taxes and deductions?
a)
balance
b)
gross balance
c)
transaction
d)
net pay
4.
When depositing money into an account, it is important to:
a)
include your account number
b)
swipe your credit card
c)
thank the teller
d)
sign your deposit ticket
5.
You can continue to write checks as long as you have check in your checkbook.
a)
True
b)
False
6.
All bank transactions should be recorded in the register
a)
True
b)
False
7.
A direct deposit is when you take your paycheck directly to the bank after your receive it.
a)
True
b)
False
8.
Credit cards and debit cards are essentially the same thing.
a)
True
b)
False
9.
Banks offer different kinds of accounts because:
a)
Different customers have different needs
b)
They have to by law
c)
It seems like the fun thing to do
d)
They are greedy
10.
The higher the interest rate, the better
a)
True
b)
False
11.
The longer the money is saved, the better
a)
True
b)
False
12.
The more you add to yours savings, the better
a)
True
b)
False
13.
The lower the interest rate, the better.
a)
True
b)
False
14.
The shorter the money is saved, the better.
a)
True
b)
False
15.
The more you add to your savings, the worse off you will be.
a)
True
b)
False
16.

What do we call a fee that is collected for using someone's money?

a)

Deposit

b)

Interest

c)

Loan

d)

Check

17.
Jonathan's new clothes cost a total of $572.50 before tax. What type of tax does Jonathan have to pay for his new clothes?
a)
Income Tax
b)
Property Tax
c)
Payroll Tax
d)
Sales Tax
18.
Items that are owned by an individual
a)
assets
b)
liabilities
c)
property
d)
expenses
19.
A plan for spending
a)
income
b)
expenses
c)
sales tax
d)
budget
20.
A voucher entitling its user to a cash refund
a)
liability
b)
coupon
c)
expense
d)
wage
21.
The cost required to buy an item or service
a)
coupon
b)
expenses
c)
income
d)
wage
22.
a family plan for spending
a)
income taxes
b)
expenses
c)
family budget
d)
liability
23.
Debts that are owed by an individual
a)
liabilities
b)
fixed expenses
c)
net worth
d)
assets
24.
The value of one's assets minus one's liabilities
a)
fixed income
b)
coupon
c)
net worth
d)
gross income
25.
The amount paid or earned for the use of money.  
The formula is I = prt
a)
Simple interest
b)
Compound Interest
c)
Coupon
d)
Monetary Incentives
26.
Which is an example of a variable expense?
a)
car payment
b)
mortgage
c)
electricity bill
27.
Which type of expenses are these, rent, car payment?
a)
Crazy bills
b)
Variable expense
c)
Fixed expense
28.
If the Moore's monthly income is $5,000 what amount of their budget is spent on miscellaneous expenses?
a)
$2,000
b)
$.08
c)
$200
d)
$4
29.
If the Talbot family's income is $3,200 what percent of their budget is spent on medical expenses?
a)
15%
b)
.15%
c)
150%
d)
100%
30.
Gas expenses are a type of _________ cost.
a)
fixed
b)
variable
31.
You are purchasing a T.V for $990 T.V with 9% sales tax. What is the final price of the T.V.?
a)
$ 1881.00
b)
$ 1079.00
c)
$ 1,079.10
d)
$ 1,709.1
32.
Mrs. Ray is buying some groceries.  They total to $35.50.  Sales tax is 4.5%.  When she goes to pay, how much will she owe?
a)
$1.60
b)
$37.10
c)
$40.00
d)
$51.48
33.
Sales tax is __________ to the price
a)
subtracted
b)
added
c)
multiplied
d)
divided
34.
Lona wants to a buy raincoat for her goat.  If the raincoat costs $39.99 and has a sales tax rate of 7%.  What will be the FINAL PRICE (with tax) of the raincoat?  
a)
$42.79
b)
$42.78
c)
$2.80
d)
$2.79
35.
Regular price: $174. Discount: 40%. Find the sale price. Round to nearest cent if necessary.
a)
$104.40
b)
$140.40
c)
104.4
d)
69.6
36.
Fred earns $10 an hour as a library assistant. If we worked 40 hours last week, his paycheck would be
a)
Equal to $400
b)
Less than $400
c)
More than $400
d)
Found in the tax table
37.
Mr. Porter wants to spend an extra $150 this weekend on a family outing tot he state fair. Which of the following could be a way to adjust his budget to allow for the extra expense?
a)
Work fewer hours this week
b)
Work overtime
c)
Give money to charity
d)
Increase gasoline usage
38.
When is Mr. Simon's budget balanced?
a)
When his monthly expenses are greater than his total income.
b)
When his income is greater than his expenses
c)
When his weekly expenses are greater than his monthly income
d)
When his income is equal to his expenses
39.
Savannah earned $1300.00 at her job. Her paycheck was made out in the amount of $973.22. What kind of tax was taken out of her earnings?
a)
sales
b)
payroll
c)
income
d)
property
40.
Alex bought a new car priced at $13,840 but he paid $14,597. What kind of tax did he pay?
a)
property
b)
payroll
c)
income
d)
sales
41.
A city collects money from the people who live in it to pay for police protection and other city services. People who own houses or land pay this tax. What kind of tax is this?
a)
sales
b)
income
c)
property
d)
payroll
42.
Everybody who earns money has to pay taxes to the government. What kind of tax is this?
a)
payroll
b)
sales
c)
income
d)
government
43.
Dan earns $436.54 a week at his job. $102.38 is taken out and he takes home $334.16. What does $436.54 represent?
a)
net income
b)
sales tax
c)
gross income
d)
payroll tax
44.
Dan earns $436.54 a week at his job. $102.38 is taken out and he takes home $334.16. What does $334.16 represent?
a)
net income
b)
sales tax
c)
gross income
d)
payroll tax
45.
Dan earns $436.54 a week at his job. $102.38 is taken out and he takes home $334.16. What does $102.38 represent?
a)
net income
b)
sales tax
c)
gross income
d)
payroll tax
46.
Ramon keeps exceeding his monthly budget by $100. Which is the best way for him to balance his budget from now on?
a)
Sell some of his clothes every week
b)
Find a roommate to share the rent
c)
Skip school one day a week
d)
Walk to all of his destinations
47.

Which of the following is an advantage of using a credit card?

a)

Interest is charged for the use of a credit card.

b)

Consumers can purchase things now, and pay for them later in the event of an emergency.

c)

You could be a victim of identity theft.

48.

Which of the following will make it less likely for you to be approved for a car loan?

a)

having a steady job

b)

late credit card payments

c)

a high credit score

d)

having a low debt-to-income ratio

49.
True or False: Negative information stays on your credit report for 7-10 years.
a)
True
b)
False
50.
A plastic payment card linked to a financial account and is used for transactions.
a)
Debit Card
b)
Credit Card
c)
Checking Account
d)
Savings Account
51.
The actions of depositing and withdrawing money.
a)
Microtransactions
b)
Saving Money
c)
Transactions
d)
Shoe Laces
52.
To put money into an account.
a)
Deposit
b)
Withdraw
c)
Savings for a chicken
d)
Interest for a cow
53.
Which bank is better for me? I pay for lunch 20 times a month with my debit card. I do not write checks or use the ATM.
a)
State Bank
b)
Bank of Texas
54.
What would be my monthly costs if I chose to bank at Bank of Texas and use my debit card 20 times to pay for lunch?
a)
$10.00
b)
$2.00
c)
$20.00
d)
$4.00
55.
What is credit?
a)
Money allocated to a specific account for future use by the consumer without borrowing
b)
Goods, services, or money received in exchange for a promise to pay a definite sum of money at a future date
c)
The ability and willingness of an individual to pay back a loan as perceived by the lender
d)
An individual’s character, capital, capacity, collateral and conditions
56.
Amount charged if your payment is received after the billing date
a)
late payment fee
b)
overdue fee
c)
withdrawal fee
d)
loser fee
57.
Benefits of credit cards include:
a)
safe and convenient, bonuses are offered
b)
allows you to build a positive credit report
c)
needed for reservations and online shopping
d)
all of these
58.
Your credit score is not configured off of which of the following:
a)
Payment history
b)
Amount owed
c)
GPA
d)
Length of credit history
59.
What is the starting balance on this check register?
a)
4720.33
b)
4500.00
c)
4500.75
d)
4320.00
60.
What was the balance of the account at the end of the day on 7/24?
a)
4720.33
b)
4320.03
c)
5091.15
d)
4500.75
61.
Besides tuition, most colleges also charge their students for...
a)
room & board
b)
extra fees
c)
books
d)
all of the above
62.
Scholarships and grants are available for many college students, and they...
a)
have deferred payment
b)
give students a job to help pay
c)
don't have to be paid back
d)
have a low interest rate
63.
What degree provides the highest earning potential in pay?
a)
High School  Diploma
b)
Associate's Degree
c)
Undergraduate Degree
d)
Master's Degree
64.
If a person with a master's degree earns 30% more than someone with an undergrad degree, what would Susie make if she got her master's and she makes $50,000 now?
a)
$166,666
b)
$65,000
c)
$50,030
65.
True or False: The number of times a DEBIT card is used is on a credit report.
a)
True
b)
False
66.

The check register shows the transactions in Ms. Garcia’s new checking account. She opened the account on October 3.


Based on the information in the check register, what is the balance in Ms. Garcia’s check register after the ATM transaction on October 11?

a)

$5,105

b)

$2,095

c)

$3,600

d)

$1,505

67.

Before Nina bought groceries on April 22, she had a balance of $487.25 in her checking account. Nina wrote her transactions in her check register. She included all her transactions through the end of the day on April 23.

a)

$429.75

b)

$547.75

c)

$574.75

d)

$399.75

68.

Which statement best describes purchases made with a debit card?

a)

Purchases made with this card are subject to interest.

b)

Purchases made with this card can be paid over time.

c)

Purchases made with this card are withdrawn directly from a bank account.

d)

Purchases made with this card are subject to a credit limit.

69.

Which of the following is a reason to establish a good credit score?

a)

It helps you get a loan.

b)

It helps you get a better interest rates on loans.

c)

It helps the borrower determine if a loan will be approved.

d)

All of the above.

70.

The table shows the average annual salary for four jobs.


Based on this information, how much more will an elevator technician make than a librarian over 10 years?

a)

$174,930

b)

$126,307

c)

$17,493

d)

$1,263,070

71.

The table shows the average annual salary in dollars based on the minimum level of education required for two occupations.


Based on the average annual salaries in the table, how much more would an accountant earn than a tax preparer over a 30-year career?

a)

$112,740

b)

$3,382,200

c)

$880,200

d)

$1,251,000

72.

The table shows the average annual salary in dollars based on the minimum level of education required for two occupations.


Based on the average annual salaries in the table, how much more would an accountant earn than a tax preparer over a 30-year career?

a)

$112,740

b)

$3,382,200

c)

$880,200

d)

$1,251,000

73.

What mathematical operation is used in a check register when a withdrawal is made?

a)

addition

b)

subtraction

c)

multiplication

d)

division

74.

What is saving?

a)

Accumulation of excess funds by intentionally spending less than you make

b)

Cash set aside to cover the cost of unexpected events

c)

A monetary asset that contributes to your net worth

d)

Money available today that is worth more if received in the future

75.

What is emergency savings?

a)

Transferring money into your savings before you pay your bills

b)

Original amount of money saved or invested

c)

Cash set aside to cover the cost of unexpected events

d)

Maximizing your return by selling stocks at a higher price than what you paid for

76.

When is an item considered an asset?

a)

While you are making monthly payments on time

b)

Converting an asset into cash

c)

When cash is used for emergencies

d)

When it is fully paid off and can be sold for cash

77.

How much money should you save for emergencies?

a)

2 months worth of expenses

b)

6 months worth of expenses

c)

Cash in whatever stocks you have to pay for an emergency

d)

As a neighbor for a loan if needed

78.

How does time effect money?

a)

The more money you save the more you will make

b)

Saving for a short period of time proves long term investments

c)

The longer you save your money the more you will make

79.

What is investing?

a)

Possibility that an investment will fail to pay the expected return

b)

Money invested is usually used to pay for long-term goals

c)

Assets purchased with the goal of providing additional income from the asset itself but with the risk of loss

d)

The danger that money won’t be worth as much in the future as it is today.

80.

Stocks are:

a)

A share of ownership in a company

b)

Organization pays interest to the lender

c)

Form of lending to a company or the government

d)

A specified time in the future when the principal amount of the bond is repaid to the bondholder

81.

What is a bond?

a)

A share of profits distributed in cash to stockholders

b)

A share of ownership in a company

c)

When an organization pays interest to the lender (purchaser) until the maturity date is reached

d)

A Form of lending to a company or the government

82.

Investments are important to building:

a)

For emergencies

b)

For your future net worth

c)

A trade-off to higher returns is lower liquidity and higher risk

d)

Tax-advantaged investments

83.

Money invested is usually used to pay to:

a)

Achieve long-term goals

b)

For emergencies

c)

To purchase expensive items

d)

To pay off loans

84.

Which is not part of a checking account?

a)

ATM card

b)

Checks

c)

Stocks

d)

Online bill pay

85.

What is a check?

a)

An automated teller machine

b)

A plastic card that requires a pin number and is attached to your bank account

c)

A form of savings

d)

Pre-printed form of payment that is attached to you bank account

86.

Which is not a positive aspect of using a debit card:

a)

Opens your account to credit fraud

b)

Its small and convenient to use

c)

Allows you to carry less cash

d)

Allots for overspending

87.

When does overdraft occur?

a)

When liquidity occurs

b)

When stocks are sold at a high price then it was bought for

c)

When your withdrawal from a bank account exceeds the available balance

d)

When you purchase an item on credit

88.

What does electronic banking do?

a)

Acts as a debit card when you purchase an item

b)

Gives you ownership of a company

c)

Does not allow you to pay bills from your bank account

d)

Gives people access to bank accounts and cash in a fast and paperless way

89.

What is the highest credit score you can achieve?

a)

800

b)

1000

c)

850

d)

550

90.

Which is NOT a credit agency that calculates your credit score?

a)

Experian

b)

Federal Reserve

c)

Trans Union

d)

Equifax

91.

What is credit?

a)

Receiving goods and services now and paying for them later

b)

The process of depositing money into your savings the day you receive it so you have savings later

c)

Having ownership of a company based on how many stocks you have bought

d)

Accumulating money each month for emergencies

92.

When is interest paid?

a)

When the company you have bought stock in has earned you a profit

b)

When you borrow money from a lender and they charge you for the convenience of giving you a line of credit

c)

When you put money into your savings

d)

When you over withdrawal in your bank account and you are charged a fee

93.

If managed properly, having credit can:

a)

Decrease your credit score and allow you to purchase more on credit if you pay it back

b)

Give you an edge over people who are applying for the same job as you

c)

Allow you to receive discounts on hotels and travel

d)

Increase your credit score and allow you to purchase items on credit

94.
Purchase is withdrawn directly from a checking or savings account. 
a)
Debit card
b)
Credit card
c)
Both
95.
Each purchase is a loan that is repaid later
a)
Debit card
b)
Credit card
c)
Both
96.
You can purchase an item now and pay for it later.
a)
Debit card
b)
Credit card
c)
Both
97.
It may require a signature when making a purchase. 
a)
Debit card
b)
Credit card
c)
Both
98.
Interest may be charged.
a)
Debit card
b)
Credit card
c)
Both
99.
It can be used to purchase goods and services.
a)
Debit card
b)
Credit card
c)
Both 
100.
It requires the use of a PIN when making a purchase. 
a)
Debit card
b)
Credit card
c)
Both
101.
If the card is lost or stolen, report it immediately.
a)
Debit Cards
b)
Credit Cards
c)
Both
102.
Transaction Fees may be charged.
a)
Debit Card
b)
Credit Card
c)
Both
103.
A checking account is
a)
An interest bearing account where your deposit remains for a set period of time
b)
An account where money can easily be deposited and withdrawn by means of checks, debit cards and ATM transactions.
c)
A computer that checks your email account
104.
a)
Credit card
b)
Debit card
c)
both
105.
I will get a bill at the end of the month for this card
a)
Debit Card
b)
Credit Card
c)
Both
106.
Makes it harder to withdraw or steal money if the card is taken. 
a)
Debit
b)
Credit
c)
Both
107.
A bank can offer ____________.  Allowing you to temporarily make the purchase if there are insufficient funds.
a)
Checking account
b)
Overdraft protection
c)
Liability
d)
Transaction fee
108.
More useful when you are short on cash in an emergency.
a)
Debit card
b)
Credit card
c)
Both
109.
a)
Debit card
b)
Credit card
c)
both
110.
It requires a pin to withdraw cash from an ATM.
a)
Debit Card
b)
Credit Card
c)
both
111.
a)
Credit card
b)
Debit card
c)
both
112.
You can be charged a late fee if the payment is not made within the due date.
a)
Credit card
b)
Debit card
c)
both
113.
a)
Checking account
b)
Liability
c)
Transaction fee
d)
Financial Institution
114.
a)
Credit card
b)
Debit card
c)
both
115.

Which type of card is directly linked to your bank account?

a)

Credit card

b)

Debit card

116.

Which type of card is borrowing money that you have to pay back later?

a)

Credit card

b)

Debit card

117.

Which type of card pulls money that you already have directly out of your bank account?

a)

Credit card

b)

Debit card

118.

Which type of card will charge fees if there is an unpaid balance at the end of the month?

a)

Credit card

b)

Debit card

119.

Which type of card is normally free if you keep a minimum balance in your bank account?

a)

Credit card

b)

Debit card

120.

Which type of card limits you to the money in your bank account?

a)

Credit card

b)

Debit card

121.

Which type of card allows you to spend more money than you have in your bank account?

a)

Credit card

b)

Debit card

122.

Which type of card will charge late fees if not paid on time?

a)

Credit card

b)

Debit card

123.

Which type of card is normally necessary to rent a car or book a hotel room?

a)

Credit card

b)

Debit card

124.

Which type of card gives you cash back at a grocery store (if you have funds) without charging you a fee?

a)

Credit card

b)

Debit card

125.
Purchase is withdrawn directly from a checking or savings account. 
a)
Debit card
b)
Credit card
c)
Both
126.
Each purchase is a loan that is repaid later
a)
Debit card
b)
Credit card
c)
Both
127.
You can purchase an item now and pay for it later.
a)
Debit card
b)
Credit card
c)
Both
128.
Interest may be charged.
a)
Debit card
b)
Credit card
c)
Both
129.
It requires the use of a PIN when making a purchase. 
a)
Debit card
b)
Credit card
c)
Both
130.
It requires the use of a PIN when making a purchase. 
a)
Debit card
b)
Credit card
c)
Both
131.
If the card is lost or stolen, report it immediately.
a)
Debit Cards
b)
Credit Cards
c)
Both
132.
A checking account is
a)
An interest bearing account where your deposit remains for a set period of time
b)
An account where money can easily be deposited and withdrawn by means of checks, debit cards and ATM transactions.
c)
A computer that checks your email account
133.
More useful when you are short on cash in an emergency.
a)
Debit card
b)
Credit card
c)
Both
134.
Convenient to use.
a)
Credit
b)
Debit
c)
Both
135.
“My bill is due the 15th of every month.”
a)
Debit
b)
Credit
c)
Both
136.
“I have $360 in my checking account, so that is the most I can spend using this card.”
a)
Debit
b)
Credit
c)
Both
137.
 “I just got some bonus points for free magazines for using this card.”
a)
Debit
b)
Credit
c)
Both
138.
 “I don’t have any cash with me, so I’ll pay using this card.” 
a)
Debit 
b)
Credit
c)
Both
139.
 “I had to sign my receipt when I used this card.”
a)
Debit
b)
Credit
c)
Both
140.
 “I want to pay for these groceries right now instead of getting a bill in the mail later this month.”
a)
Debit
b)
Credit
c)
Both
141.
 “This is just like using a check, except I don’t have to carry my checkbook with me everywhere I go.”
a)
Debit
b)
Credit
c)
Both
142.
 “I paid for my online purchase using this card.”
a)
Debit
b)
Credit
c)
Both
143.

A PIN (Personal Identification Number). What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

144.

Hefty fees may be charged if you spend more than what is in the account. What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

145.

Small, hard, plastic card. What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

146.

Interest may be charged, but can be avoided by paying the entire balance each month. What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

147.

Each purchase is a loan that is repaid later. What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

148.

Card can be used to purchase goods or services. What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

149.

Kristy’s gas pump went out as she was driving her car. Since she did not have enough money to cover the cost to replace the pump, she used a card that allowed her to pay later. What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

150.

Money is withdrawn directly from a checking or savings account. What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

151.

Consumers can purchase items now and pay for them later. What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

152.

Which card is a loan from a bank?

a)

Credit

b)

Debit

153.

Which card has a bill you must pay each month?

a)

Credit

b)

Debit

154.

Which card does NOT charge interest?

a)

Credti

b)

Debit

155.

Which card can affect your credit score?

a)

Credit

b)

Debit

156.

Which card does NOT affect your credit score?

a)

Credit

b)

Debit

157.

Which card requires you to repay money borrowed in a stipulated time?

a)

Credit

b)

Debit

158.

Which card does NOT charge interest?

a)

Credit

b)

Debit

159.

Which card is best for daily purchases?

a)

Credit

b)

Debit

160.

Which card is useful for emergencies

a)

Credit

b)

Debit

161.

What is a credit score?

a)

A number that multiplies your age and GPA

b)

A number that shows how well you pay back your loans

c)

A number that adds how much money you have across all bank accounts

162.

What is a credit limit?

a)

The maximum amount you can spend using a credit card

b)

The APR

c)

A number that combines your age and credit score

163.

Your bank will send you a credit card in the mail if you lose the one you have

a)

True

b)

False

164.

What is the difference between a debit card and a credit card?

a)

Debit: use your own money

Credit: use bank's money

b)

Debit: use bank's money

Credit: use your own money

165.

Why should you use a credit card responsibly instead of a debit card when you are able to?

a)

Because the bank is paying anyways

b)

To increase my credit score

c)

Because I might run out of money that is on the account connected to my debit card

166.

Pick a card: You are an 30 year old who spends $1200 a month on purchases and does not travel often. You have a good credit score.


Chase Freedom:

$200 bonus after spending $500, good credit score, $0 annual fee


Delta Airline SkyMiles Card

Earn miles after first $3000 spent, good credit score, $550 annual fee

a)

Chase Freedom

b)

Delta Airline SkyMiles Card

167.

Pick a card: You earn $90,000 a year and spend $3000 a month. You travel at least two times per year.


Wells Fargo Propel:

3x points on travel, $200 bonus after $1000 spent, $0 annual fee


Delta Airline SkyMiles Card

Earn miles after first $3000 spent, good credit score, $550 annual fee

a)

Wells Fargo Propel

b)

Delta Airline SkyMiles Card

168.

Pick a card: You earn $90,000 a year and spend $3000 a month. You travel at least two times per year.


Wells Fargo Propel:

3x points on travel, $200 bonus after $1000 spent, $0 annual fee


Delta Airline SkyMiles Card

Earn miles after first $3000 spent, good credit score, $550 annual fee

a)

Wells Fargo Propel

b)

Delta Airline SkyMiles Card

169.

Pick a card: You earn $90,000 a year and spend $3000 a month. You travel at least two times per year.


Wells Fargo Propel:

3x points on travel, $200 bonus after $1000 spent, $0 annual fee


Delta Airline SkyMiles Card

Earn miles after first $3000 spent, good credit score, $550 annual fee

a)

Wells Fargo Propel

b)

Delta Airline SkyMiles Card

170.

When is it ever ok to max the credit card limit?

a)

When I know I have the cash to pay it off

b)

When I know I am going to get a new job

c)

Never

d)

It's always ok as long as I pay it off before I die

171.

Which type of card is borrowing money that you have to pay back later?

a)

Credit card

b)

Debit card

172.

Which type of card pulls money that you already have directly out of your bank account?

a)

Credit card

b)

Debit card

173.

Which type of card will charge fees if there is an unpaid balance at the end of the month?

a)

Credit card

b)

Debit card

174.

Which type of card is directly linked to your bank account?

a)

Credit card

b)

Debit card

175.

Which type of card is normally free if you keep a minimum balance in your bank account?

a)

Credit card

b)

Debit card

176.
Each purchase is a loan that is repaid later
a)
Debit card
b)
Credit card
c)
Both
177.
It requires the use of a PIN when making a purchase. 
a)
Debit card
b)
Credit card
c)
Both
178.
If the card is lost or stolen, report it immediately.
a)
Debit Cards
b)
Credit Cards
c)
Both
179.
You can purchase an item now and pay for it later.
a)
Debit card
b)
Credit card
c)
Both
180.
A checking account is
a)
An interest bearing account where your deposit remains for a set period of time
b)
An account where money can easily be deposited and withdrawn by means of checks, debit cards and ATM transactions.
c)
A computer that checks your email account
181.
More useful when you are short on cash in an emergency.
a)
Debit card
b)
Credit card
c)
Both
182.
“I have $360 in my checking account, so that is the most I can spend using this card.”
a)
Debit
b)
Credit
c)
Both
183.

Which card is a loan from a bank?

a)

Credit

b)

Debit

184.

When you use a credit card you are using _____________.

a)

Ms. Hillary's money

b)

the bank's money

c)

your money

185.

When you use a debit card you are using __________.

a)

the bank's money

b)

your parent's money

c)

your money

186.

If you make purchases on a credit card you have to _________.

a)

pay the money back to the bank

b)

write it in your checkbook register

c)

ask your mom to pay the bill

187.

The fee that credit cards charge customers for using their money is called ___________________.

a)

rent

b)

deposit

c)

interest

188.
Your mom goes to the ATM at the bank and withdraws $300 from her savings account with her card. 
a)
Debit card
b)
Credit Card

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