Free Printable Unit 12 Formative 1 1/2

Worksheets

Unit 12 Formative 1 1/2

Total questions: 24

Worksheet time: 30mins

Name

Class

Date

(6.14E) How long will a negative credit action usually remain on a credit report?

4 years

7 years

10 years

15 years

There are various methods in which to pay for your purchases. Paul used a type of card to pay for his purchase that withdraws money immediately from his checking account. What is this type of payment card called?

credit card

debit card

401 card

savings plus card

Sally goes to the bank. She puts her babysitting money in her account. Sally has made a

Deposit

Withdrawal

You can be charged a late fee if the payment is not made within the due date.

Credit card

Debit card

both

Which person is most likely to be offered a loan, if the decision was solely based on their credit scores?

M. Spiller

B. Murphy

S. Thorne

W. Myers

What is a plan for how you spend your money?

income

sales tax

budget

deposits

Money deducted from an account is known as a...

Withdrawal

Overdraft

Insufficient Funds

Reconcile

Which bank is better for me? I pay for lunch 20 times a month with my debit card. I do not write checks or use the ATM.

State Bank

Bank of Texas

What would be my monthly costs if I chose to bank at Bank of Texas and use my debit card 20 times to pay for lunch?

$10.00

$2.00

$20.00

$4.00

10.

What is the starting balance on this check register?

4720.33

4500.00

4500.75

4320.00

11.

True or False: The number of times a DEBIT card is used is on a credit report.

True

False

12.

All of the following can appear on your credit report, EXCEPT

Salary

If you've been arrested

Money you borrowed from your aunt

The number of credit accounts you have open

13.

If a school counselor earns $63,600 per year and an assistant principle earns $83,500 per year, how much more would would the assistant principal earn than the school counselor over 10 years?

$20,900.00

$19,900.00

$199,000.00

$398,000.00

14.

Ms. Guillory sold some of her son's old toys and earned $56. She went to the bank and added the money to her account. She made a _________________ to her account.

deposit

withdrawal

debit

deduction

15.

Ms. Calandra was going on a vacation. She took some money out of her account to pay for her trip. She made a _______________ from her bank account.

deposit

withdrawal

debit

deduction

16.

Debit cards are a convenient way to pay because you don’t have to carry cash or take time to write a check.

True

False

17.

If you spend more money than is in your account, your bank will charge you a fee.

True

False

18.

A debit card is basically an electronic check.

True

False

19.

What is a transaction register?

a booklet that the school gives you for recording your grades

a book with money in it

a booklet for writing down memories

A booklet for recording money deposited or withdrawn from an account.

20.

What does deposit mean?

remove

take away

put into

spilled

21.

What does withdraw mean?

put into

transaction

write a check

remove

22.

What is the most significant factor in a good credit score?

good job

rich aunt

years of credit history

paying bills on time

23.

What is the final balance on June 7th.

Nearest hundredth and no dollar sign.

24.

How long does credit information stay on a credit report? (a)

Choose from the below words

7 years

4 years

5 years

10 years

Reset

Unit 12 Formative 1 1/2

Total questions: 24

Worksheet time: 30mins

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