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WorksheetsFuture Smart: Ways to Pay (Module 3)
Total questions: 11
Worksheet time: 6mins
Amy's new summer job at the pool will pay her $9 per hour. Which term describes this type of hourly income?
salary
stipend
wage
benefit
Which factor has the biggest impact on a credit score?
payment history
type of credit
amount owed
length of credit
Ashley wants to use money from her checking account to make a purchase. Which payment method should she use?
credit card
debit card
direct deposit
prepaid card
What is the best strategy for avoiding credit card interest?
Pay the full balance each month
Skip payments
Pay the minimum balance
Make payments online
___________________ is withheld from a paycheck and is used to fund government services such as health care, national defense, and scientific programs.
Federal Income Tax
Medicare
Social Security
State Income Tax
A ________________ is usually paid on a biweekly or monthly basis for professional employment.
salary
stipend
wage
benefit
Which of the following is the best reason to use cash for purchases?
Getting more from the ATM is easy to do
Keeping track of how much you have spent is simple
Splitting bills with friends is easier
Losing it won’t be a big deal
Which of the following is not a source of income?
Your annual salary for doing your job
Your monthly student loan payment
The stipend you receive for doing an internship
The wages you receive after a work shift
Which of the following statements is TRUE:
Applying for several lines of credit in a short period of time can help boost a person’s credit score.
Paying off a credit card balance in full can have a negative impact on someone’s credit score.
The longer you use credit responsibly, the higher your credit score.
Low-risk borrowers tend to have low credit scores.
Which of the following statements is TRUE about payday loans?
They are harder to pay back because of low fees and high-interest rates
They are harder to pay back because of high fees and high-interest rates
They are easier to pay back because of lower fees and higher interest rates
They are easier to pay back because of lower fees and lower interest rates
What is the problem with paying only your minimum credit card balance each month?
It lowers your credit score
You have to pay interest
The bank will cancel your credit card
