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Unit 3: Lesson 2 Debit & Credit

Total questions: 18

Worksheet time: 9mins

Name
Class
Date
1.

A legal process that gives a debtor protection from creditors.

a)

debit

b)

bankruptcy

c)

foreclosure

d)

check

2.

An online payment service that allows consumers to transfer money electronically.

a)

Cash

b)

Debit Card

c)

Direct Deposit

d)

Pay Pal

3.

The amount deducted from a bank account.

a)

Debit

b)

Credit

c)

Cash

d)

Paypal

4.

A legal process in which a lender takes possession of a property from a person who failed to make payments.

a)

Check

b)

Bankruptcy

c)

Foreclosure

d)

Cash App

5.

A card authorizing the holder to purchase goods and services that can be paid for later.

a)

Debit Card

b)

Credit Card

c)

Cash

d)

Check

6.

Money in the form of bills or coins.

a)

Debit

b)

Paypal

c)

Check

d)

Cash

7.

A written order for a bank to pay money.

a)

Cash

b)

ATM

c)

Check

d)

Debit Card

8.

The amount of money owed.

a)

Debit

b)

Credit

c)

Debit Card

d)

Paypal

9.

The amount of financial trust extended to a person or a business.

a)

Debit

b)

Credit

c)

Debit Card

d)

Check

10.

A card that is like cash where money is immediately subtracted from the cardholders bank account when a purchase is made.

a)

Credit Card

b)

Check

c)

Debit Card

d)

Cash

11.

Many banks will offer debit cards to teens between the ages of ?

a)

18-19

b)

6-10

c)

11-12

d)

13-17

12.

Credit is a privilege.

a)

True

b)

False

13.

APR stands for.

a)

Annual Protection Region

b)

Annual Percentage Rate

c)

Awesome People Really Care

d)

All People Read

14.

The maximum amount of money a cardholder can borrow.

a)

Debit Limit

b)

Minimum Payment Due

c)

Finance Charge

d)

Credit Limit

15.

The amount of money a bank or card company charges for use of its card services for a year.

a)

Annual Fee

b)

Credit Limit

c)

Finance Charge

d)

Annual Savings

16.

The cost of credit or the fees and interest charged to unpaid balance.

a)

APR

b)

Annual Fee

c)

Finance Charges

d)

Minimum Payment Due

17.

The lowest amount of money that can be paid to meet a loan requirement.

a)

Maximum Payment Due

b)

Previous Balance

c)

Minimum Payment Due

d)

Credit Limit

18.

The amount still owed from purchases before the cycle charge.

a)

Credit Limit

b)

Previous Balance

c)

Minimum Payment Due

d)

Finance Charges