WorksheetsCM Fall Semester Final
Total questions: 38
Worksheet time: 57mins
The best way to avoid running out of money is…
Plan and set goals for your money
Wake up early every morning to count your money
Imagine yourself in a room full of money
Earn a lot of money
Comparative Shopping
The practice of comparing the price of products or services from different providers before buying, often to find the best deal or price.
An opportunity that encourages you to buy a specific item (for example, a discount).
A sum of money (added to the total bill) that a customer gives to a waiter or waitress for their service.
A type of bank account that allows a person to deposit and withdraw their money.
You planted 60 seeds. 80% actually grow. How many seeds grew? In other words, what is the number of seeds that grew if 80% of 60 seeds grew?
(a)
Deedee's family ate at a restaurant. The bill was $44.20. If they gave a 20% tip to the service staff, how much was the tip?
$8.84
$4.88
$8.48
$8.88
At what age can teenagers open a checking account on their own?
16
13
18
15
What is a requirement when opening a checking account if you are under 18 years old?
School identification
Having a savings account at the same bank
A joint owner. Usually a parent.
all of these
none of these
If you notice any suspicious activity on your account, you should
Call 911
Notify your bank as soon as possible
Tell your friends
Tell your mom/dad
How do debit cards and credit cards differ?
A credit card is YOUR money.
You can buy a debit card at the post office.
A debit card is YOUR money.
They are both the same.
It is an advantage of savings accounts...
Savings accounts generally generate interest, which means you will earn interest on the money you save in the account.
Savings accounts allow you to make up to six withdrawals or transfers per statement cycle.
You do not need a large amount of money to open a savings account, and you also have easy access to your money.
All answers are correct
In 2008, what started to happen with the banks that actually lent the money to people to buy houses they couldn't afford?
The bank executives faced jail time for tricking people into getting mortgage loans they couldn't afford.
The banks began to fail because they told their customers they didn't have to make payments because they knew they couldn't afford them.
The banks were making a lot of money selling all the houses they foreclosed on.
The banks began to fail because many people were not making their loan payments and the entire economy started to crumble.
You choose Option B for Overdraft Options. Suppose you have $30 in your checking account and $50 in your savings account. What would happen if you tried to withdraw $45 at the grocery store using your debit card?
Your transaction would be approved and the $45 would be charged to your savings account, not your checking account.
Your transaction would be approved as the bank would transfer money from your savings account to your checking account, and you would be charged a $10 fee.
Your transaction would be denied and you would have to return the groceries if you did not have cash to pay for them.
Your transaction would be approved as the bank would transfer money from your savings account to your checking account, and you would be charged a $37 fee.
none of these
Bank
"one-stop shop";
tries to meet all your financial needs in one location
Credit Union
offers lower interest rate loans to its members
Members are in control like fire fighters or teachers
Credit Union
Anyone can open an account
Bank
Payment history accounts for about _______ of your credit score.
1/2
3/4
35%
90%
Which of these shows your credit history?
Credit score
Credit report
Both
None
Which of the following is one of the 3 nationally recognized credit bureaus?
Equifax
Federal Reserve
Inspirion
Transnational Union
Which of the following elements can be found on a credit card statement?
payments made and new charges
fees and interest charged
year-to-date totals and how long it will take to pay off with only the minimum payment
all of these
none of these
Bank of America issues you a credit card with a maximum balance of $1,000. This is an example of:
Finance Charge
Co-Signer
Minimum Payment
Credit Limit
What is an exceptional (very good) credit score?
672
555
713
813
What type of credit score is this 570?
Average
Excellent
Poor
Excellent
Which of the following probably has the highest credit score? Assume all have made regular monthly payments on time.
An 18-year-old college student
A 20-year-old waitress with two active credit cards
A 40-year-old entrepreneur with two cars, a house, and four active credit cards
A 50-year-old man with five credit cards who rents his home.
A good reason to have and maintain a high credit score is...
To obtain loans with lower interest rates (such as for a house or a car)
To receive special benefits and perks
To demonstrate that, even though your high school GPA was low, you are still a good person
None of these answers are correct
All of these answers are correct
What is the capital of France?
Berlin
Madrid
Paris
Rome
pays for the damages you cause even if it is to your own vehicle
collision
liability
pays for losses that are out of your control (related to weather, fire, hitting an animal, etc.)
collision
comprehensive
liability
this is what you pay to a bank/lender before they give you a loan
car payment
down payment
premium
"Certified pre-owned" means all of the following:
There is more than one answer.
is automatically insured
is a used car
has a limited warranty
is an electric car
has been inspected by a mechanic
What factors will increase your car insurance premiums?
Check ALL the correct options.
your age (younger means more)
gender (boys pay more than girls)
living in a rural community versus the city
how much you have to drive to work
religion (atheists pay more than religious people)
A person was injured in a car accident. Their insurance policy has a coverage of 75/150/100. The person's medical injuries amount to $80,000. How much, if any, will they have to pay after the insurance coverage?
Nothing. The maximum limit is $150,000 and the injuries are less than that.
Nothing. The insurance covers everything.
$5000. The insurance will only cover a maximum of $75K per person.
$30,000. The insurance only covers a maximum of $150,000.
The benefits of leasing vs buying a car are:
Check ALL that apply.
you don't need to buy gas
get a new car every 3-5 years
always under warranty
many taxes, fees, and penalties
gas consumption is very good
The benefits of owning a used car versus getting a new car are:
Check ALL that apply.
the car itself costs less
it breaks down a lot
you cannot get insurance
insurance is less expensive
over time, even with additional maintenance costs, it can be less expensive than a new car
Sacha is buying a used car. It costs $15,500. The taxes and license fees are another $495. She pays 10% as a down payment. How much is left to finance?
almost $14,400
almost $13,400
almost $15,400
almost $14,000
almost $13,000
If the collateral for your secured loan can be withdrawn, why obtain a secured loan?
Because they usually have a higher interest rate
Because they usually have a lower interest rate
Banks give you an additional 90 days to make a late payment
Banks typically do not charge interest during the first 12 months
Interest
percentage (usually per year) you are being charged for the right to borrow the money
Term
the amount over which you pay back your principal and interest
Principal
amount you are borrowing
UNsecured loan
does not require collateral so it is more risky for the lender
Secured loan
requires collateral which the lender can take if you don’t pay.
50% of your paycheck
Needs: Bills, insurance, rent, food
30% of your paycheck
Wants: new clothes, video games, Spotify
20% of your paycheck
Savings: Emergency fund
Select ALL the best ways to protect yourself from spam emails...
Use a SPAM filter to prevent common scams from reaching your inbox
Be suspicious! If you are not completely sure it is genuine, NEVER click on any links or download attachments.
Always click on every link
Always download and open every attachment.
A person who buys goods and services for personal use
a producer
QR code
Software as a Service (SaaS)
a consumer
none of these
What are the potential impacts of climate change on global agriculture?
Marisol wants a new Toyota Corolla. She is currently a full-time student at a local university and works part-time at Starbucks.
What advice would you give her?
