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WorksheetsFinancial Literacy Terms
Total questions: 20
Worksheet time: 17mins
This is a plastic card form of payment in which the bank loans you money to purchase an item but charges you interest.
Debit Card
Mortgage
Credit Card
Credit Loan
Katie goes to the bank. She takes money out of her account. Katie has made a
Deposit
Withdrawal
Banks often have a limit to the number of times you can get money out of your account. If you go over this limit, you are usually charged this:
A late fee
A service charge
An annual fee
A credit score
Often credit cards charge you a fee just to have the credit card. This is called:
A credit charge
A service charge
A privilege card fee
An annual fee
This is a plan of how you are going to organize and control your spending and saving.
A budget
A savings account
A personal loan plan
A minimum payment plan
ATMs are used to withdraw money out of your bank account or credit card. ATM stands for:
Annual Ticket Machine
Automated Tech Machine
Automated Teller Machine
A Teller Machine
Credit limit is:
The most you can spend on your credit card.
The amount of money you can afford to spend in your budget.
The last payment on your credit card.
The amount of money you have in your bank account.
Any exchange of money between a person and another individual or institution (bank or company).
A sale
A debit
A loan
A transaction
When you owe more money than you have, you are in _____.
Debit
Bankruptcy
Trouble
Debt
A _________ is a number between 300–850 that represents a person's creditworthiness. The higher the number, the better a chance that a person will get a loan. A _______ is based on the number of accounts a person has, their total debt, and their history of repaying loans on time.
Credit loan
Credit score
Credit limit
Borrower score
‘NSF’ marked in cheque sent back by the bank indicates
Cheque has been forged
A bank couldn’t verify the identity
No sufficient money
A cheque cannot be cashed because it’s illegal
Sales tax in Ontario is called the HST (harmonized sales tax), and is charged on almost everything that is purchased. The percent amount of sales tax in Ontario is:
15%
5%
25%
13%
Moving your money from one account to another account is called:
A transfer
A withdrawal
A cheque
A loan
A large amount of money borrowed from a bank which is used to purchase a house is called a:
mortgage
credit loan
morgage
bankruptcy
