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Worksheets

Personal Finance

Total questions: 40

Worksheet time: 20mins

Name
Class
Date
1.

a savings plan for retirement

a)

401k

b)

101b

c)

501k

d)

601k

2.

the interest rate charged on a card

a)

APR

b)

ATM

c)

UPS

d)

YTD

3.

What does APR stands for in finance?

a)

Annual Progress Report

b)

Apple Product Resale

c)

Annual Percentage Rate

d)

Advanced Password Recovery

4.

everything you own or have paid for that have value

a)

cell phone

b)

checking account

c)

assets

d)

savings account

5.

allows bank customers to deposit and withdraw money without the direct assistance of a bank employee

a)

OPM

b)

ATM

c)

IBM

d)

APR

6.

a process where accounts are rechecked for accuracy and completeness

a)

co-sign

b)

borrower

c)

audit

d)

invest

7.

an individual, business or government that has received and used something belonging to somebody else, with the intention of returning or repaying it

a)

borrower

b)

employer

c)

lender

d)

investing

8.

a plan to manage income, spending and saving

a)

budget

b)

debt

c)

loan

d)

borrow

9.

a form of check bought for a specific amount and paid to a person or firm named on the check

a)

check

b)

credit card

c)

debit card

d)

cashier's check

10.

a written order to a financial institution directing the financial institution to pay a stated amount of money, as instructed, from the customer's account

a)

check

b)

cashier's check

c)

debit card

d)

credit card

11.

a financial account into which people deposit and withdraw money by writing checks or using debit or ATM cards

a)

stocks

b)

retirement

c)

credit card

d)

checking account

12.

the final arranging of details for the sale of a house

a)

mortgage

b)

opening

c)

closing

d)

rent

13.

to add your signature to a loan made by someone else, promising that you will repay if the other person does not

a)

invest

b)

co-sign

c)

borrow

d)

lend

14.

allows individuals to buy goods or services now and pay for them later

a)

credit

b)

credit score

c)

credit check

d)

credit card

15.

a small, coded plastic card issued by a bank, business, etc., authorizing the cardholder to purchase goods and services on credit up to the authorized amount. (MUST BE REPAID)

a)

credit card

b)

debit card

c)

flash card

d)

post card

16.

a written record collected by a credit agency that tracks a borrower's credit payments, financial behavior, and credit history

a)

book report

b)

credit report

c)

report card

d)

progress report

17.

a number that ranges from 300-850 that rates your credit risk

a)

credit card

b)

credit score

c)

investing

d)

credit report

18.

The total amount owed at a given point in time

a)

loan

b)

credit

c)

debt

d)

income

19.

a small, specially coded plastic card issued by a bank; allows the cardholder to transfer funds electronically and immediately from his or her checking account

a)

credit report

b)

credit score

c)

debit card

d)

credit card

20.

A tax credit for low-income individuals

a)

social security

b)

earned income tax credit

c)

federal income tax

d)

medicaid

21.

interest paid by a borrower to a lender for the use of credit

a)

debt

b)

income

c)

salary

d)

finance charge

22.

earnings before taxes are deducted

a)

gross pay

b)

net pay

c)

credit

d)

income tax

23.

earnings that result from working

a)

income

b)

social security

c)

medicaid

d)

medicare

24.

setting money aside to increase wealth over time and accumulate funds for long-term financial goals

a)

saving

b)

investing

c)

borrowing

d)

lending

25.

the price associated with using someone else's money

a)

stocks

b)

interest

c)

taxes

d)

fees

26.

one who lends; may be an individual, a business or a government

a)

borrower

b)

lender

c)

bank teller

d)

real estate agent

27.

a written agreement to repay borrowed money

a)

allowance

b)

contract

c)

audit

d)

loan

28.

a special loan that generally refers to money borrowed to buy a house

a)

interest

b)

finance charge

c)

rent

d)

mortgage

29.

the amount of income left after taxes have been paid

a)

deductions

b)

net income

c)

gross

d)

income tax

30.

a person's assets, or what a person owns, minus a person's liabilities, or what a person owes

a)

net worth

b)

gross pay

c)

net income

d)

salary

31.

the time of life when you no longer need to work; retirement age is 65

a)

resign

b)

retire

c)

quit

d)

leave of absence

32.

a fixed amount paid for work

a)

fee

b)

stipend

c)

salary

d)

wage

33.

a type of bank account that allows you to safely keep your money with a bank and even earn interest

a)

cashier's check

b)

savings account

c)

credit

d)

401k

34.

shares of ownership in a corporation

a)

goods

b)

assets

c)

stocks

d)

checks

35.

required payments to the government

a)

taxes

b)

fine

c)

stocks

d)

bonds

36.

a form that shows earnings and the amounts of income, Social Security, and Medicare taxes withheld from income during the year

a)

W-2

b)

application

c)

invoice

d)

1099 form

37.

What does ATM stand for in finance?

a)

automated teller machine

b)

at the moment

c)

account tracking maching

d)

another teachable moment

38.

Why do people save money?

a)

to buy something that cost more

b)

to spend later

c)

for emergencies

d)

all of the above

39.

What is this called?

a)

a check

b)

a debit card

c)

a credit card

d)

a money order

40.

What is this?

a)

credit history

b)

credit score

c)

credit card

d)

none of the above