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Financial Literacy Unit 3 Review

Total questions: 40

Worksheet time: 1hrs 15mins

Name
Class
Date
1.

You should not put these on a check.

(pick two)

a)

Social Security Number

b)

Date

c)

Name

d)

Driver's License Number

e)

Amount

2.

You can only use this at an ATM.

a)

Debit Card

b)

Credit card

c)

ATM card

d)

Store Card

3.

Where you record how much money you spend or put in your account.

a)

ledger

b)

statement

c)

ledegr

d)

statment

4.

When you write a check you _______ the money from your account.

a)

Subtract

b)

Add

c)

Multiply

d)

Divide

5.

When you make a deposit you _______.

a)

Subtract

b)

Add

c)

Multiply

d)

Divide

6.

A record of the deposits, withdrawals, and balance on an account.

a)

Statement

b)

Statment

c)

Stattement

d)

Statemint

7.

When you get a debit card you choose a _________.

a)

Personal Identification Number

b)

Pirsonal Identification Number

c)

Personal Idintification Number

d)

Personal Identification

Numbur

8.

A savings account is a better choice for a place to keep your money because _________.

a)

your money will not be lost, stolen, or thrown out if it's in a bank

b)

your money is less safe in a bank than in your home

c)

you can never access your money unless it is an emergency

d)

it makes it easier to pay bills online

9.

Bella kept $500 in a savings account for 1 year. At the end of the year she had $525. The extra $25 is _____.

a)

budget

b)

withdrawal

c)

interest

d)

passbook

10.

Alexia wrote down a plan for spending and saving her money. Alexia's plan is her _____.

a)

budget

b)

withdrawal

c)

deposit slip

d)

account number

11.

With a credit card you can _______ your purchase instead of using cash for the things you buy.

a)

charge

b)

carge

c)

charje

d)

charg

12.

Credit cards are good for emergencies.

a)

True

b)

False

13.

Each month you will get a ______ that will tell you how much you have charged on your credit card.

a)

statement

b)

statemint

c)

statment

d)

statmint

e)

stately

14.

Interest is a fee you pay to the credit card company if you pay less than you owe.

a)

True

b)

False

15.

You may need a credit card to get _______. (More than one correct answer)

a)

airline tickets

b)

hotel rooms

c)

rental cars

d)

theme park tickets

16.
Benefits of credit cards include:
a)
safe and convenient, bonuses are offered
b)
allows you to build a positive credit report
c)
needed for reservations and online shopping
d)
all of these
17.
Examples of penalty fees include:
a)
over-the-limit fee
b)
late payment fee
c)
returned payment fee
d)
all of these
18.

If you are not careful you may take out a loan on an item that will break before the loan is complete.

a)

True

b)

False

19.

Interest can be defined as:

a)

a charge for lending money

b)

the amount owed for borrowing money

c)

the amount added into your savings account when opening a bank account

d)

a charge for convenience of accessing money in your bank

20.

Draw a picture of $0.78

21.

Draw a picture of $108.47

22.

Draw a picture of $35.68

23.

Draw a picture of $35.93

24.

Draw a picture of $81.73

25.

Draw a picture of $17.31

26.

Draw a picture of $1.27

27.

Draw a picture of $4.87

28.

Draw a picture of $3.48

29.

Draw a picture of $48.49

30.

Draw a picture of $8.37

31.

Jason got fast food for lunch. Jason spent $4.84 on a sandwich and $4.04 on a hotdog. What was the total of the lunch bill?

a)

$8.88

b)

$9.88

c)

$4.00

32.

Tim joined his school's band. He bought a viola for $109.48, and a song book which was $6. How much did Tim spend at the music store?

a)

$115.48

b)

$112.34

c)

$44

33.

John loves eating pizza. John paid $15.00 for 2 pepperoni pizzas with a $20 bill. How much change did John get back?

a)

$5.00

b)

$35.00

c)

$10.00

34.

Sam paid $8.06 on a toy, and paid with a $10 bill. How much change did Sam receive?

a)

$1.94

b)

$21.34

c)

$18.06

35.

Denira has $50.00. Lizzie has $38.00. How much more money does Denira have than Lizzie?

a)

$88.00

b)

$12.00

c)

$50.00

36.

Madison bought a scarf for $9.99 and paid with a $20 bill. How much change did he receive.

a)

$11.01

b)

$10.01

c)

$9.99

37.

Emily’s parents put $1500 in her bank account for college tuition at a simple interest rate of 8.25%. What will be the balance after 18 years?

a)

$22,275

b)

$2227.50

c)

$12,375

d)

$3727.50

38.

Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays a simple interest rate of 3.8%. What will be the amount of interest earned after 15 years?

a)

$3182.50

b)

$270.75

c)

$2707.50

d)

$745.75

39.

Mark took out a loan for $25,690 to purchase a new truck at a simple interest rate of 5.2%. How much interest will he pay on his truck after 5 years?

a)

$6,679.40

b)

$32,369.40

c)

$66,794

d)

$679.40

40.

Kennedy won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% simple interest, how much will she have in total in her account at the end of 10 years?

a)

$8700

b)

$38,700

c)

$870

d)

$3,870