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WorksheetsGearUp Personal Finance Assessment
Total questions: 25
Worksheet time: 25mins
Lonnie uses a card to pay for groceries. He borrows money from a lending institution every time he uses the card.
What type of card is Lonnie using? _________
debit
credit
savings
gift
Why is creating a budget beneficial?
Budgeting is a one-time event that automatically saves you money.
Budgeting guarantees you can cover all of your wants and needs
Budgeting allows you to reduce your income taxes and earn more money
Budgeting allows for planning and responsible spending of your money
If Leslie wants to have a bike for a social event next week, what is her best plan of action
use her savings to buy a brand new bike
borrow a bike from a friend and return it soon as possible
use credit card and pay it off in 4 months
work instead of attending the social
Which of the following is NOT a positive aspect of a credit card?
helps build credit history
offers reward for use
allows for purchases without cash on hand
get cash from an ATM
Which of the following best describes the difference between a bill and a credit card statement?
A bill is money that you are given from a company; a credit card statement is a snapshot of your current savings.
A bill is sent only when you owe money to a company; a credit card statement is sent each month to show your balance owed, interest assessed, and any rewards earned.
A bill is money that you give a company for their services; a credit card statement has to be paid every month, even when it was not used.
both require that you spend more than you have
Money spent to buy or do something
Any Money Earned or Received.
A debit card allows for an immediate electronic transfer of money from a cardholder's savings or checking account.
True
False
A debit card is a buy-now, pay-later payment type with a grace period for payments.
True
False
Consumers can purchase items now and pay for them later.
Debit Card
Credit Card
Both
Eric purchased a movie ticket with his card. This money will come straight out of his checking account. What card did he use?
Debit Card
Credit Card
Both
Rosa’s gas pump went out as she was driving her car to work. 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 card did she use?
Debit Card
Credit Card
Both
This account allows you to deposit money at a bank for safekeeping and earn interest on it
Saving Account
Checking Account
Bill Account
Casino Account
This account allows you to withdraw money, pay a bill, or make purchases easily using your debit card.
Checking Account
Savings Account
Market Money Account
CD Account
Who is this?
Becca Rabbit
Bugs Bunny
Hoppers
Thump
Who is this?
Pinky Pig
Hamlet Pig
Porky Pig
Snorts The Pig
Who is this?
Speedy Gonzales
Cowboy Mouse
El Raton
Sonic the Mouse
Who is this?
Mr. Krabs
Ms.Puff
Spongebob
Patrick
