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Real Money Real World Terms 2

Total questions: 13

Worksheet time: 7mins

Name
Class
Date
1.

the means of guaranteeing protection or safety for people or property from injury or loss of property

a)

insurance

b)

interest

c)

gross income

d)

overdraw

2.

1. money you are paid by a bank on savings deposits

2. the amount of extra money that you pay to a bank when you take out a loan, like for a house, car or credit card purchases

a)

insurance

b)

interest

c)

gross income

d)

overdraw

3.

total amount of your wages, or salary before deductions

a)

insurance

b)

interest

c)

gross income

d)

overdraw

4.

when you don't have enough money in your account

a)

insurance

b)

interest

c)

gross income

d)

overdraw

5.

The amount of money you will have left over after payroll deductions have been made. This is your take home pay.

a)

net income

b)

tax

c)

savings

d)

salary

6.

An involuntary payment of money to a government to support federal, state or local programs.

a)

net income

b)

tax

c)

savings

d)

salary

7.

disposable income, put aside in a savings account, not spent for consumer goods

a)

net income

b)

tax

c)

savings

d)

salary

8.

a fixed payment at regular intervals for work done

a)

net income

b)

tax

c)

savings

d)

salary

9.

something that an individual or family must have in order to live

a)

need

b)

want

c)

standard of living

d)

trade off

10.

something that an individual or family would like to have, but is not necessary to survive

a)

need

b)

want

c)

standard of living

d)

trade off

11.

the giving up of an economic goal, good or service in order to gain another economic goal, good, or service

a)

need

b)

want

c)

standard of living

d)

trade off

12.

monthly summary of a customer's bank transactions

a)

credit rating

b)

career

c)

bank statement

d)

loan

13.

money you borrow from a lending institution such as a bank or credit union

a)

credit rating

b)

career

c)

bank statement

d)

loan