WorksheetsUnit 11 Financial Literacy Test (2023)
Total questions: 22
Worksheet time: 13mins
Money that is withdrawn directly from a checking or savings account.
Interest may be charged, if it is not paid in full each month.
Kayla had a balance of $106.15 in her checking account. She deposited $75.00. What is her new balance?
41.15
171.15
31.15
181.15
Willis had a balance of $546.24 in his checking account. He wrote a check for $100.35. What is his new balance?
645.63
445.89
646.59
446.85
You use your debit card at HEB to pay for your groceries. This is called a...
deposit
withdrawal
bank fees
You were a high school athlete. The university is paying your tuition while you play on the
college team.
A scholarship
A grant
Work Study
Loan
You work 20 hours per week in the library at your college, in return for reduced tuition.
A scholarship
A grant
Work Study
Loan
You or your parents borrowed money to pay for your education this year.
A scholarship
Work Study
Student Loan
Using the U.S. wage data below, calculate how much more an average surgeon earn each year than an average engineer.
$40,000
$150,000
$30,000
$180,000
Why is it important to establish positive credit history?
You could qualify for lower interest rates on loans
You are more likely to be offered a loan by a bank
Positive credit history results in higher credit scores
All of the above
How long will a negative credit action usually remain on a credit report?
40 years
1 year
7 to 10 years
6 months
What is important in establishing good credit?
Making payments on time
Being late on payments
Spending 100% of your credit limit
Missing a payment
Late payments can help create a high credit score
True
False
Who would be more likely to get a car loan?
Dave with a credit score 480
Julie with a credit score 780
The more education and/or training you receive after high school increases your earning potential.
True
False
Based on the chart, how much more will a nurse practitioner earn than a RN over a 10 year period?
$632,400
$389,400
$63,240
$38,940
Student Loan
If you spend more money than you have in your account, you will be charged an _________________.
investment
overdraft fee
awesome trip
