Wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Financial Literacy

Total questions: 26

Worksheet time: 15mins

Name
Class
Date
1.

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

2.

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

3.

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

4.
All of these are examples of types of credit except:
a)
savings account
b)
college loan
c)
credit cards
d)
car loan
5.
Before signing up for a credit card, you will want to find out...
a)
if there is an annual fee.
b)
what the interest rate is on purchases.
c)
what types of late fees could be charged.
d)
all of these are correct.
6.
Overspending and accumulating too much debt can ruin your credit score
a)
True
b)
False
7.
Credit scores range from _____ to _____.
a)
350, 800
b)
300, 850
c)
400, 650
d)
400,800
8.
Credit scores are based on certain criteria such as
a)
religion
b)
payment history
c)
gender
d)
all of these things
9.
Credit scores are based on certain criteria such as
a)
age
b)
gender
c)
how much credit card debt you have
d)
national origin
10.
The percentage rate (APR) charged on purchases is called:
a)
annual fee
b)
interest
c)
balance
11.
The higher your credit score, the more likely you are to...
a)
get your dream job
b)
get a good interest rate on a car loan.
c)
get the apartment of your dreams. 
d)
all of these things.
12.
This is a sum paid or charged for the use of money or for borrowing money
a)
Loan
b)
Credit
c)
Interest
d)
Budget
13.
This is a card entitling its holder to buy goods and services based on the holder's promise to pay for these goods and services
a)
Credit card
b)
Debit Card
c)
Charge card
d)
Gift card
14.

When you keep track of your money.

a)

Spending

b)

Savings

c)

Earnings

d)

Budgeting

15.
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
16.
The maximum amount you may borrow on a credit card is known as:
a)
creditworthiness
b)
credit report
c)
credit limit
d)
variable rate of credit
17.
What is an annual fee? 
a)
The act of transferring money 
b)
A fee charged by a card issuer for being a card holder. 
c)
The days between the last statement and the current statement. 
d)
A fee charged to a cardholder's account once a payment is late. 
18.
How can you avoid paying interest fees on your credit card?
a)
Only use it for groceries
b)
pay off the full balance, on time, each month
c)
you cannot avoid interest fees
d)
only use Discover
19.
It is wise to compare credit card offers before choosing one
a)
True
b)
False
20.
Paying the minimum payment on a credit card every month will:
a)
Pay a large percentage of the total balance owed every month
b)
Make the final amount paid substantially higher than the amount initially charged to the card
c)
help the cardholder create a plan for paying of a credit card in a decent amount of time
d)
allow the cardholder to avoid paying any interest charges 
21.
Having a high credit score will allow lenders to give you lower interest rates.
a)
True
b)
False
22.
The least amount that must be paid on a credit card each month is
a)
Late Fee
b)
Credit Limit
c)
Payment amount
d)
Minimum Payment
23.
How can a cardholder avoid paying interest on a credit card?
a)
Do not pay anything
b)
Pay the minimum payment after its due date
c)
Pay the minimum balance every month
d)
 Pay the balance in full every month
24.

There’s no penalty if I pay my credit card balance after the due date.

a)

True

b)

False

25.

What is a credit report?

a)

A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness

b)

A detailed report of a bank's credit history prepared by a credit expert and used by consumers in determining a bank's creditworthiness

c)

A report which shows which credit cards are better than others

d)

A report invented by Allan Greenspan and credited to Al Gore

26.
True or False: Credit can lead to overspending.
a)
True
b)
False

Similar Resources on Wayground

Perencanaan Usaha Kerajinan dari Bahan Limbah

25 questions

Perencanaan Usaha Kerajinan dari Bahan Limbah

quiz

Worksheet

•

12th Grade

INT Final Exam Review (RW) 4 Practice

23 questions

INT Final Exam Review (RW) 4 Practice

quiz

Worksheet

•

12th Grade - University

Relative Pronouns

22 questions

Relative Pronouns

quiz

Worksheet

•

9th Grade

Solutions Pre ınt- Feelings

23 questions

Solutions Pre ınt- Feelings

quiz

Worksheet

•

9th - 10th Grade

Crucible Act IV

24 questions

Crucible Act IV

quiz

Worksheet

•

10th Grade

READING 3_UNIT 10-GUESSING THE MEANING OF NEW WORDS

21 questions

READING 3_UNIT 10-GUESSING THE MEANING OF NEW WORDS

quiz

Worksheet

•

12th Grade

comparision

25 questions

comparision

quiz

Worksheet

•

6th - 10th Grade

File Pre - SECOND CONDITIONAL & Animals

21 questions

File Pre - SECOND CONDITIONAL & Animals

quiz

Worksheet

•

8th - 12th Grade