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ESY-Financial Literacy Check

Total questions: 30

Worksheet time: 50mins

Name
Class
Date
1.
Sales tax is __________ to the price.
a)
subtracted
b)
added
c)
multiplied
d)
divided
2.

What is 8.25% as a decimal?

(a)  

3.

what is 6% as a decimal?

(a)  

4.

Billy Bob just bought a new car. His car costs $75,000. How much money will he pay in taxes for the car if the sales tax is 6%?

(a)  

5.

The shirt that you bought was $20. The sales tax was 15%, what was the final price?

(a)  

6.

Vicky made some purchases at the Sunflower Market. She bought strawberries for $3.50, carrots for $2.25 and a bouquet of flowers for $9.95. If sales tax is 5%, what will Maria pay altogether?

(a)  

7.

The TV you bought was $900 and the sales tax was 10%, what was the total cost of the TV.

(a)  

8.

Write the percent as a decimal. 
4.3%

(a)  

9.
Convert 18 months to years. 
a)
18 Years
b)
1.5 Years
c)
.18 Years
d)
You cannot change it to years.
10.

An APR of 5.4% in decimal form is....

a)

.54

b)

.054

c)

5.4

d)

.0054

11.
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)
A credit card company will allow you to buy now and pay back your debt when you are ready.
b)
A credit card doesn't cost you any more money than using a debit card as long as you make regular payments.
c)
Using a credit card responsibly and paying the balance off each month can help improve your credit score.
d)
People that use credit cards become wealthy more quickly.
12.
Which of the following is true?
a)
Budgets are intended for those tight on cash with low incomes
b)
The sooner you get in the habit of budgeting, the more financially successful you will be
c)
Only needs are included in a budget
d)
A budget is a lot of work and not worth the time
13.

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

a)

savings account

b)

checking account

14.
Car Payment
a)
Fixed Expense
b)
Variable Expense
15.

Entertainment

a)

Fixed Expense

b)

Variable Expense

16.
Shopping Spree
a)
Fixed Expense
b)
Variable Expense
17.

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

a)
Julio's payment will affect his credit rating.
b)
Julio might be charged interest for his purchase.
c)

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

d)
Julio will make payment for his purchase when he receives his monthly statement.
18.

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?

a)

$132.34

b)

$182.34

c)

$50.00

d)

None of the above

19.

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

(a)  

20.

How much is one penny + six dimes?

a)

.61 cents

b)

.31 cents

c)

.26 cents

d)

.17 cents

21.

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

a)
b)
c)
22.
If you have $1.00 and buy a piece of candy worth 75¢, how much money would you have left?
a)
25¢
b)
75¢
c)
65¢
d)
50¢
23.

An example of a necessary expense is __________.

a)

Rent

b)

Groceries

c)

Medication

d)

McDonalds

24.

Frugal means_______.

a)

Thrifty

b)

Fancy

c)

Reddish

d)

Spooky

25.
What is the name of this coin?
a)
penny
b)
dime
c)
nickel
d)
quarter
26.
What is the name of this coin?
a)
nickel
b)
penny
c)
quarter
d)
dime
27.
What is the name of this coin?
a)
quarter
b)
nickel
c)
dime
d)
penny
28.

Count on to find the total value.

a)

b)

5¢

c)

4¢

d)

3¢

29.

Count on to find the total value.

a)

b)

15¢

c)

25¢

d)

35¢

30.

How much is this?

a)

20 cents

b)

30 cents

c)

40 cents

d)

50 cents