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Financial Literacy Review

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

Occurring or returning once a year; happens yearly

a)

principal

b)

annual

c)

rate

d)

credit card

2.

The amount of funds available in an account

a)

credit card

b)

interest

c)

balance

d)

debt

3.

A cooperative group that is like a private bank making loans to it's members at lower rates of interest.

a)

principal

b)

minimum

c)

checking

d)

credit union

4.

The recording or entry made of a debt in an account.

a)

rate

b)

debit

c)

income

d)

balance

5.

The ability to borrow or to buy goods and services with payment at a later time.

a)

interest

b)

minimum

c)

income

d)

credit

6.

A plastic item that identifies a person as entitled to have food, merchandise or anything purchased in person or online, later billed on a charge account.

a)

savings

b)

checking

c)

annual

d)

credit card

7.

The act of lending; temporary use of something with the promise of returning the balance in full.

a)

loan

b)

checking

c)

debit

d)

balance

8.

The original amount of money being borrowed or lent to an individual.

a)

balance

b)

annual

c)

loan

d)

principal

9.

The price paid for borrowing money for a load or on credit.

a)

debit

b)

interest

c)

savings

d)

loan

10.

The percentage of the value of a balance or debt that one pays or is paid each time period (monthly).

a)

credit

b)

annual

c)

checking

d)

rate

11.

Interest that is only payable on the principal amount; interest that is not compounded (multiplied daily).

a)

credit card

b)

simple interest

c)

checking

d)

rate

12.

The least or smallest possible number, measure or quantity (amount).

a)

debit

b)

minimum

c)

income

d)

savings

13.

The amount of money or it's equivalent received during a period of time in exchange or labor, work or services provided.

a)

credit card

b)

savings

c)

income

d)

debit

14.

An account that draws interest at a private bank or credit union. This kind of account is typically not used for paying bills, daily purchases, etc.

a)

credit card

b)

debit

c)

checking

d)

savings

15.

A written order to a bank to pay the amount detailed from funds in a current balance; can also be paid with a debit card from same account.

a)

loan

b)

principal

c)

checking

d)

savings