Free Printable Financial Literacy Unit Two Review

Worksheets

Financial Literacy Unit Two Review

Total questions: 30

Worksheet time: 41mins

Name

Class

Date

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

$7.50

$26.25

$87.5

$262.50

Credit cards, when used responsibly, can provide benefits for its consumers. Which statement below describes a benefit for a consumer using a credit card?

A credit card company will allow you to buy now and pay back your debt when you are ready.

A credit card doesn't cost you any more money than using a debit card as long as you make regular payments.

Using a credit card responsibly and paying the balance off each month can help improve your credit score.

People that use credit cards become wealthy more quickly.

A type of service offered by a bank that allows you to go online at anytime and check your account balances or pay your bills is called what type of service?

debit service

online protection

online banking

credit access

Sunshine Bank offers free checking, a savings account for $5.00 per month, free online banking, and an overdraft fee of $35.00 as well as a free debit card. Johnson Credit Union offers a checking account for $3.00 per month, a free savings account, and an overdraft fee of $25.00 as well as a free debit card. Which statement below does NOT accurately compare these two banking options?

Sunshine Bank offers free checking as opposed to a $3.00 fee for checking charged by Johnson Credit Union.

Both banks offer a free debit card and free online banking.

Sunshine Bank charges $10.00 more for an overdraft fee.

Johnson Credit Union and Sunshine Bank both charge a fee for a savings account.

Interest is:

a charge for lending money

the cost of borrowing money

the amount added into your savings account when opening a bank account

a charge for convenience of accessing money in your bank

Which of the following is true?

Budgets are intended for those tight on cash with low incomes

The sooner you get in the habit of budgeting, the more financially successful you will be

Only needs are included in a budget

A budget is a lot of work and not worth the time

The balance in your account is...

the amount of money you've spent

the amount of money you currently have

the interest rate

how many checks you've written

Which account usually earns interest and is used to hold money that is not needed right away?

savings account

checking account

Which account is usually used to pay bills and supply money for your debit and credit card purchases?

savings account

checking account

10.

What is a transaction register used for?

Calculating the interest earned from your savings account,

Lowering the amount of transactions you make.

Keeping track of your account balance--what money you both removed from and deposited into your account.

11.

Which statement is correct?

A payment is a debit and a deposit is a credit.

A payment is a credit and a deposit is a debit.

12.

Car Payment

Fixed Expense

Variable Expense

13.

Entertainment

Fixed Expense

Variable Expense

14.

Shopping Spree

Fixed Expense

Variable Expense

15.

Savings Account

variable expense

fixed expense

16.

Savings Account

variable expense

fixed expense

17.

Julio paid $35.92 for gasoline with his debit card. Which of the following is an accurate description of Julio's transaction?

Julio's payment will affect his credit rating.

Julio might be charged interest for his purchase.

Julio's linked account will immediately have $35.92 removed.

Julio will make payment for his purchase when he receives his monthly statement.

18.

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

Credit card

Debit Card

Charge card

Gift card

19.

Angie's balance forward is $217.58. Her checking account registrar shows payments of $25.00, $10.57, and $49.67. It also shows one deposit of $50.00. What is the total amount of money in her bank account?

$132.34

$182.34

$50.00

None of the above

20.

Susanna's balance forward is $117.58. Her checking account register shows payments of $15.00, $8.57, and $49.67. It also shows one deposit of $30.00. What is the total amount of money that she has in her bank account?

$117.58

$44.34

$74.34

$30.00

21.

If the Outer Worlds costs $44.99 and a Skin Decal Wrap for Sony PS4 Controller costs $8.99, how much do they cost all together?

$54.00

$53.98

$32.51

22.

Ivan bought bananas for 75 cents. He paid with a 5 dollar bill. How much change will he get back?

(a)

23.

Hallie went to the fruit store. She’s buying apples for 45 cents, and grapes for 40 cents.

She's paying with a 1 dollar bill. How much change should she get back?

(a)

24.

Scott went to the clothing store to buy his tuxedo suit that costs 75 dollars, and he paid with 100 dollar bill.

How much money should he get back?

(a)

25.

How much is one penny + six dimes?

.61 cents

.31 cents

.26 cents

.17 cents

26.

Maria earned $1.75 for helping her mom. Which amount shows $1.75?

27.

Tom bought 3 packages of Oreos and each one cost $2.99 He paid with a $20.00 bill. How much change will he get back?

(a)

28.

Andy bought 3 packages of Chips Ahoy cookies and each one cost $2.69. He paid with a $10.00 bill. How much change will he get back?

(a)

29.

Chris bought two chocolate bars that cost $0.50 each with the money above. How much change does he have left?

(a)

30.

If you have $1.00 and buy a piece of candy worth 75¢, how much money would you have left?

25¢

75¢

65¢

50¢

Reset

Financial Literacy Unit Two Review

Total questions: 30

Worksheet time: 41mins

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