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Georgia Studies Milestones Review Government and Personal Fin

Total questions: 159

Worksheet time: 3hrs 21mins

Name
Class
Date
1.

What is the name of Georgia's legislative branch?

a)

General Assembly

b)

Congress

c)

Georgia Supreme Court

d)

Department of Justice

2.
Which of the following houses require the legislator to be 25 years of age to run?
a)
House of Representatives. 
b)
Senate.
c)
Congress
d)
Parliament
3.
Which of the following houses require the legislator to be 25 years of age to run?
a)
House of Representatives. 
b)
Senate.
c)
Congress
d)
Parliament
4.
Which house is responsible for introducing bills based on spending or appropriation?
a)
House of Representatives
b)
Senate
c)
Congress
5.
The combination of the Senate and House of Representatives in Georgia is known as 
a)
Parliament 
b)
Congress
c)
The General Assembly
6.
General Assembly has two major duties. What are they?
a)
Writing bills and enforcing the laws.
b)
Writing bills and interpreting the laws.
c)
Balance the state's budget and writing bills. 
d)
Writing bills
7.
How many members are apart of the General Assembly in Georgia?
a)
180 in the House, 56 Senate
b)
56 in the House, 180 in the Senate
c)
435 in the House, 100 in the Senate
8.
What role does the Speaker of the House have in the General Assembly?
a)
Assign members to committees
b)
Promoting members of committees
c)
Represent the governor 
9.
Dividing the government into branches is known as the concept of ?
a)
Checks and Balances
b)
Commitees
c)
Separation of Powers
10.
How many votes are needed in order to overturn a veto by the executive branch?
a)
2/3 of both houses. 
b)
Half of the houses.
c)
The majority of both houses. 
d)
2/3 of the Senate, 1/3 of the House. 
11.
 Why are committees a necessary part of the law making process?
a)
Committees give representatives a job. 
b)
They research the bills to make sure that they are aligned with the Constitution. 
c)
Committees help to keep the governor informed. 
12.
Georgia's flag contains three principles: Wisdom, Moderation, and Justice. Which term describes the legislative branch?
a)
Justice
b)
Moderation
c)
Wisdom
d)
All
13.
(SS8CG2) The branch of government responsible for making law is the __________ branch.
a)
Legislative
b)
Executive
c)
Judicial
14.
(SS8CG3) The branch of government responsible for enforcing the law is the __________ branch.
a)
Legislative
b)
Executive
c)
Judicial
15.
(SS8CG2) The General Assembly gets most of its work done in _________
a)
House of Representatives
b)
Committee Systems
c)
Senate
16.
(SS8CG3) The General Assembly may pass a bill, but the Governor may veto it. This is an example of?
a)
Checks and Balances
b)
Separation of Powers
c)
Popular Vote
17.
(SS8CG1) The concept that describes the division of the basic powers and responsibilities of government between three distinct and independent branches is called _____________.
a)
Checks and Balances
b)
Separation of Powers
c)
Popular Vote
18.
(SS8CG2) The General Assembly of the state of Georgia can best be described as _____________.
a)
unicameral
b)
bicameral
c)
tricameral
19.
(SS8CG2) All of the following make up the different houses of the General Assembly except _____.
a)
the State Supreme Court
b)
the State Senate.
c)
the House of Representatives
20.
(SS8CG2a) Which political office in the state of Georgia has the following qualifications: U.S. citizenship, Georgia residency for at least two years, and 25 years of age?
a)
State Senator
b)
Member of the House of Representatives
c)
Governor
21.
(SS8CG1a) Which political office in the state of Georgia has the following qualifications: U.S. citizenship for fifteen years, Georgia residency for at least six years, and 30 years of age?
a)
State Senator
b)
Member of the House of Representatives
c)
Governor
22.
(SS8CG2b) The leader of the House of Representatives is the __________________.
a)
Governor
b)
Speaker of the House
c)
Lieutenant Governor
23.
(SS8CG2b) The leader of the State Senate is the _______________________.
a)
Governor
b)
Speaker of the House
c)
Lieutenant Governor
24.
(SS8CG2b) ______ is the only member of Georgia's government that is a part of two branches of government
a)
Governor
b)
Speaker of the House
c)
Lieutenant Governor
25.
(SS8CG2b) The Governor of Georgia is elected to terms that last ___ years long.
a)
2
b)
4
c)
6
26.
SS8CG2a) The qualifications of the office of Lieutenant Governor are identical to those of the
a)
President
b)
Vice President
c)
Governor
27.
(SS8CG5a) In Georgia, there are ____ counties.
a)
159
b)
175
c)
200
28.
GA's governor is closest to what national counterpart
a)
President
b)
Congress
c)
U.S. Supreme Court
d)
Vice President
29.
GA's Lieutenant governor is closest to what national counterpart
a)
President
b)
Congress
c)
U.S. Supreme Court
d)
Vice President
30.
(SS8E4a) Money collected by the government to keep the government in operations
a)
Bicameral
b)
Appropriations
c)
Legislature
d)
Revenue
31.
(SS8CG2) A bill must only pass one house of the General Assembly in order to become a law.
a)
TRUE
b)
FALSE
32.
(SS8CG3) If the governor vetoes a bill, the bill is finished and will never become a law.
a)
TRUE
b)
FALSE
33.

Which of the following are included in the executive branch? (choose 2)

a)

the Governor, Lieutenant Governor, and State Agencies

b)

the Courts

c)

the General Assembly

d)

the Secretary of State and Attorney General

34.
Which of the following is NOT a job of the governor?
a)
enforcing laws
b)
head of the state Senate
c)
appointing people to state offices
d)
signing bills into law
35.

Which department oversees how schools are funded, certifies teachers, and distributes funds to school districts?

a)

Dept. of Education

b)

Dept. of Insurance

c)

Dept. of Agriculture

d)

Dept. of Labor

36.

Which elected officer in the executive branch is the state's chief legal officer?

a)

Secretary of State

b)

Commissioner of Agriculture

c)

Attorney General

d)

Insurance Commissioner

37.
Which house is responsible for introducing bills based on spending or appropriation?
a)
House of Representatives
b)
Senate
c)
Congress
38.
General Assembly has two major duties. What are they?
a)
Writing bills and enforcing the laws.
b)
Writing bills and interpreting the laws.
c)
Balance the state's budget and writing bills. 
d)
Writing bills
39.
How many votes are needed in order to overturn a veto by the executive branch?
a)
2/3 of both houses. 
b)
Half of the houses.
c)
The majority of both houses. 
d)
2/3 of the Senate, 1/3 of the House. 
40.
 Why are committees a necessary part of the law making process?
a)
Committees give representatives a job. 
b)
They research the bills to make sure that they are aligned with the Constitution. 
c)
Committees help to keep the governor informed. 
41.

This committee serves a special purpose

a)

ad hoc

b)

conference

c)

joint

d)

standing

42.

This committee creates a compromise version of bill

a)

ad hoc

b)

conference

c)

standing

d)

joint

43.

This committee is made of members of the house and senate:

a)

Conference

b)

joint

c)

ad hoc

d)

compromise

44.

This committee lasts from session to session.

a)

ad hoc

b)

joint

c)

conference

d)

standing

45.

How are members of the general assembly and the governor chosen?

a)

By the president

b)

by the voters

c)

by the legislature

d)

by the Supreme Court

46.

Using this graph, what can you conclude about Georgia's tax revenue?

a)

Sales Taxes have increased.

b)

Corporate Income taxes have decreased.

c)

The state has too many revenue sources.

d)

The state has many revenue sources.

47.

Which of the following is required by the Georgia

state constitution?

a)

Personal income tax increases must be

approved by voter referendum.

b)

The state must maintain a balanced budget and

cannot spend more money than it takes in.

c)

Cuts to state welfare programs must be

approved by the Georgia Supreme Court.

d)

All non-tax revenue that the state receives is

used exclusively to fund education.

48.

Wisdom ______________ and moderation is Georgia's motto.

a)

Tolerance

b)

Liberty

c)

Patience

d)

Justice

49.

Each branch of government having a limit or check over the other is called....

a)

checks and balances

b)

separation of powers

50.

How old do you have to be to vote?

a)

18

b)

21

c)

17

d)

15

51.

What is a right of a Georgian?

a)

the right to vote at 15

b)

the right to serve on a jury at 12

c)

freedom of religion and speech

d)

freedom of texting your friends at school

52.

What is a responsibility of a citizen in Georgia?

a)

To text your friends

b)

To serve on a jury

c)

To eat chocolate

d)

To go to church

53.

What is the name of Georgia's legislative branch?

a)

General Assembly

b)

Congress

c)

Georgia Supreme Court

d)

Department of Justice

54.

25 years old, 56 members. This describes what chamber of the legislative branch?

a)

House

b)

Senate

c)

Congress

d)

Supreme Court

55.

21 years old, 180 members

a)

Senate

b)

House

c)

Chamber

d)

Supreme Court

56.

Who is the leader of the Senate?

a)

Lt. Governor

b)

Governor

c)

Majority Leader

d)

Speaker of the House

57.

Who is the leader of the house?

a)

Governor

b)

Speaker of the House

c)

Majority Leader

d)

Lt. Governor

58.
Why do people form political parties?
a)
to associate with voters with shared political interests
b)
in order to vote in general elections
c)
in order to run for political office
d)
to remove candidates from office
59.
Which of the following is NOT one of the parts of the GA Constitution?
a)
Amendments
b)
Preamble
c)
Court Case Summaries
d)
Articles
60.
Maria writes a letter to the editor of her local newspaper expressing her opinion on a proposed law.  Which right (based on the GA Constitution) is Maria expressing?
a)
her freedom of conscience
b)
her freedom of speech & the press
c)
right to assemble & petition
d)
right to keep & bear arms
61.
According to the system of checks and balances, the judicial branch has the power to..
a)
appoint judges
b)
impeach the Governor
c)
declare a law unconstitutional
d)
confirm appointments to the supreme court
62.
What principle of the Constitution gives the 3 branches distinct (different) roles?
a)
checks & balances
b)
separation of powers
c)
federalism
d)
democracy
63.
According to the principle of Separation of Powers, what is major role of the executive branch?
a)
write laws
b)
impeach the governor
c)
enforce (carry out) laws
d)
interpret laws
64.
Use the Political Cartoon to answer the following.
*Which principle of the Constitution is BEST described in the cartoon?
a)
Constitution
b)
Political Parties
c)
Federalism
d)
Checks & Balances
65.
Which of the following is NOT a voting qualification?
a)
18 years old
b)
U.S. citizen
c)
Resident of County You Vote
d)
Live in America for 30 years
66.
Which of these people CAN'T vote in Georgia's elections?
a)
Currently serving jail time for felony
b)
20 years old
c)
People say they are crazy
d)
felon off of probation
67.

As a whole, rights identified in the Bill of Rights and in the Georgia state constitution mostly address the rights of

a)

States

b)

Citizens

c)

Cities

d)

Public officials

68.
Which of the following is needed to override the Governor's veto?
a)
2/3 of the votes from the House and Senate.
b)
2/3 of the Senate
c)
2/3 of the House
d)
Majority vote. 
69.
Which branch of government is responsible for declaring a law unconstitutional?
a)
The judicial branch
b)
The legislative branch
c)
The executive branch
d)
The General Assembly
70.

Which of the following are included in the executive branch? (choose 2)

a)

the Governor, Lieutenant Governor, and State Agencies

b)

the Courts

c)

the General Assembly

d)

the Secretary of State and Attorney General

71.

Who appoints the leaders of the executive departments in GA?

a)

Lt. Governor

b)

Governor

c)

Speaker of House

d)

President Pro Tempore

72.

Which department oversees how schools are funded, certifies teachers, and distributes funds to school districts?

a)

Dept. of Education

b)

Dept. of Insurance

c)

Dept. of Agriculture

d)

Dept. of Labor

73.

How can a Georgia governor try to stop a bill from becoming a law after it has been approved by the legislature?

a)

veto the bill

b)

advise the press

c)

appeal to the courts

d)

dismiss the legislature

74.

This department regulates and promotes GA's agriculture industry and assists with such businesses as convenience stores, food processing plants, and farmers' markets.

a)

Department of Economic Development

b)

Department of Agriculture

c)

Department of Insurance

d)

Department of Labor

75.

What is one qualification that a Governor of Georgia needs to have?

a)

at least 18

b)

at least 15

c)

A resident of Georgia for 6 years

d)

A resident of America for 5 years

76.

What are some term limits that the Lieutenant Governor of Georgia has?

a)

Can only serve 2 terms back to back.

b)

Has to wait 2 years to run after doing one term.

c)

No term limits.

d)

Can serve for 4 years as a term.

77.

Which one is true about the election of the Lieutenant Governor?

a)

Elected in the midterm election

b)

Elected by popular vote

c)

Elected on the same ticket as the governor

d)

Gets elected to be the governor

78.
The combination of the Senate and House of Representatives in Georgia is known as 
a)
Parliament 
b)
Congress
c)
The General Assembly
79.
What role does the Speaker of the House have in the General Assembly?
a)
Assign members to committees
b)
Promoting members of committees
c)
Represent the governor 
80.
 Why are committees a necessary part of the law making process?
a)
Committees give representatives a job. 
b)
They research the bills to make sure that they are aligned with the Constitution. 
c)
Committees help to keep the governor informed. 
81.
How many votes are needed in order to overturn a veto by the executive branch?
a)
2/3 of both houses. 
b)
Half of the houses.
c)
The majority of both houses. 
d)
2/3 of the Senate, 1/3 of the House. 
82.

How long is a governor's term?

a)

4 years

b)

2 years

c)

6 years

d)

8 years

83.

How old do you have to be to become governor?

a)

30

b)

25

c)

21

d)

18

84.

How are members of the general assembly and the governor chosen?

a)

By the president

b)

by the voters

c)

by the legislature

d)

by the Supreme Court

85.

Just like the United States Constitution, the Georgia Constitution begins with a paragraph that introduces the purpose of the document. It is called the ______________

a)

Introduction

b)

Invitation

c)

Preamble

d)

Postamble

86.

For a bill to become a law, it has to

a)

Have a really great title

b)

Be voted on and passed by BOTH chambers of the General Assembly

c)

Be vetoed by the Governor at least once

d)

Have been approved by the Supreme Court of Georgia

87.
The following are qualifications for which Georgia office?
U.S. citizen for 15 years
resident of Georgia for 6 years
30 years of age
a)
Georgia Senator
b)
Georgia Representative
c)
Magistrate Judge
d)
Georgia Governor
88.

What occurs when a Georgia law conflicts with the United States Constitution?

a)

Congressional action must decide between the two constitutions.

b)

An amendment must be passed to make allowances for the state constitutions.

c)

The national constitution is supreme in conflicts with state laws.

d)

Since the state government is more representative, it overrules the national constitution.

89.
Who elects the Board of Commissioners?   
a)
a) The President
b)
b)The Mayor
c)
c) The citizens
d)
d) None of the above
90.
An example of a special-purpose government would be
a)
a historic park
b)
a school system
c)
a public fishing area
d)
a new local business
91.
GA has ______ counties
a)
180
b)
56
c)
159
d)
over 500
92.
Which branch of government does a mayor represent?
a)
legislative
b)
executive
c)
 judicial
93.
What do county commissioners and city council members have in common?
a)
They are all male.
b)
They are all elected.
c)
They are all appointed. 
d)
They all serve 1-year terms.
94.
How do the council act as the legislative branch?
a)
They make rules for the city. 
b)
They enforce laws for the city.
c)
They hire city managers.
d)
They run the courts. 
95.
Which is a reason for special purpose district governments?
a)
to meet the needs of citizens
b)
to accomplish a certain task
c)
to support the economy
d)
all answers are correct
96.
A citizen has a concern about the cleanliness of the basketball courts her son likes to play on. Who should she take her concern to?
a)
Her county commissioners
b)
Her mayor
c)
Her local Parks and Recreation Authority
d)
Her council members 
97.
Takes care of the city by collecting trash, taking care of roads, and sewers, etc. 
a)
Police Department
b)
Fire Department
c)
City Council
d)
Public Works
98.
What is the main purpose of the school board?
a)
hires teachers
b)
buys school supplies
c)
makes decisions about educational services and programming in schools
d)
wear matching jackets
99.
What is the main way that the government collects money?
a)
funds from other levels of government
b)
late library fees
c)
property tax
d)
parking tickets
100.
Voting is one of the main ways citizens participate in the government.
a)
true
b)
false
101.
Which term describes a city with its own government?
a)
megalopolis
b)
town
c)
municipality
d)
village
102.
What is an example of a special purpose government?
a)
Delta
b)
MARTA
c)
The Atlanta Braves
d)
The Georgia Aquarium
103.
Which of the following is not a level of government?
a)
Democracy
b)
Federal
c)
State
d)
Local
104.
What are the sub-divisions of local government?
a)
City, Local, Town
b)
City, County, Special Districts
c)
Federal, State, Local
d)
County, State, Federal
105.
What type of document makes an official city?
a)
Constitution
b)
Charter
c)
Declaration
d)
Mission Statement
106.
Georgia has a ______________ based government system due to its traditionally rural population?
a)
council
b)
special district
c)
city
d)
county
107.
Which of the following is not a county responsibility?
a)
Elections
b)
Roads
c)
Welfare
d)
Georgia Supreme Court
108.
 How long is the term of a member of the Georgia state supreme court?
a)
2 years
b)
4 years
c)
6 years 
109.
 What types of cases are automatically reviewed by the state supreme court?
a)
cases dealing with the death penalty 
b)
 cases dealing with wills 
c)
cases dealing with land titles
110.
How are members of the state supreme court chosen?
a)
They are appointed by the governor. 
b)
 They are elected by magistrates. 
c)
They are appointed by the legislature.
d)
 They are elected by popular vote
111.
 How are juvenile judges selected?
a)
They are elected by votes. 
b)
They are appointed by the governor. 
c)
They are appointed by superior court judges.
112.
How are most judges in Georgia selected?
a)
Through elections based on non partisan (non party) votes. 
b)
Through appointments by the governor.
c)
Trial judges are elected, appellate are appointed. 
113.
What is the difference between a felony and a misdemeanor?
a)
A less severe punishment that lasts a year. 
b)
A serious crime whose sentence lasts a year. 
c)
A felony is a serious crime that carries a sentence longer than a year. 
114.
What type of court does the Supreme Court fall under?
a)
Appellate
b)
Trial 
c)
Magistrate 
115.
Which of the following types of cases are automatically reviewed by the Supreme Court?
a)
Cases involving criminal cases. 
b)
Cases involving land titles.
c)
Cases involving wills. 
d)
Cases involving the death penalty.
116.
After the Supreme Court in Georgia, which court is the second most important?
a)
Superior Court
b)
The Court of Appeals
c)
Trial Cases
117.
The first African American female chief justice in the U.S. was named?
a)
Clarence Thomas
b)
Thurgood Marshall
c)
Leah Sears
118.
The Superior Court is the major trial court in Georgia. It is responsible for handling all felony trials?
a)
True
b)
False
c)
Neither
119.
State courts have jurisdiction over the Superior courts?
a)
False
b)
True
c)
Neither
120.
State courts deal primarily with what types of offenses?
a)
Capital offenses
b)
Felonies
c)
Traffic violations and misdemeanors
121.
Probate courts deal with small claim cases of less than $15,000?
a)
True
b)
False, Superior
c)
False, Magistrate
122.
State courts issue marriage licenses and firearm licenses?
a)
False, Magistrate
b)
True
c)
False, Superior
d)
False, Probate
123.
Magistrate cases usually have a jury
a)
True
b)
False, no juries are needed.
124.
Juvenile courts deal with students and children under the age of 
a)
21
b)
16
c)
17
125.
On the appellate level cases are argued by a lawyer and defendants?
a)
False
b)
True
126.
Georgia has 9 justices that serve on the Georgia Supreme Court. What is their job?
a)
To decide the verdict for a criminal.
b)
To sentence criminals for felonies committed. 
c)
To review death penalty cases and the decisions of trial court cases. 
127.
In the event of an election where there is a tie, which court in Georgia is responsible for making a decision?
a)
Appellate Court
b)
The Superior Court
c)
The Georgia Supreme Court
128.

The judicial branch of government is responsible for enforcing laws

a)

TRUE

b)

FALSE

129.

A governor can impact the decisions of the Superior Court by supporting the judges

a)

TRUE

b)

FALSE

130.

The Georgia Supreme Court's power to determine the constitutionality of Georgia's laws is a part of the checks and balances system

a)

TRUE

b)

FALSE

131.

Which court judges serve four year terms? Select all that apply.

a)

Appeals Court

b)

Supreme Court

c)

State Court

d)

Probate Court

e)

Superior Court

132.

State Court judges and Probate judges are elected through the same process.

a)

True

b)

False

133.

Justice is administered through the many levels of the state court system.

a)

True

b)

False

134.

How does the state court system's power to interpret laws allow the judicial branch to check government power in Georgia?

a)

The governor can serve as commander in chief

b)

Judges can declare government measures to be unconstitutional

c)

LAwmakers can draft original bills

d)

The governor can veto a bill

135.

Which power can be exercised by LOWER courts?

a)

determining the constitutionality of laws

b)

reviewing Georgia's capital cases

c)

issuing search warrants

d)

resolving disputed election results

136.

What is the highest court that checks if laws are constitutional?

a)

Supreme Court

b)

State Court

c)

Appeals Court

d)

Superior Court

137.

Which best describes Juvenile court the best...

a)

Deals with civil law, traffic, and limited jurisdiction

b)

Deals with offenders under 17 years old

c)

The highest state court: has 7 justices: original and appellate jurisdiction

d)

Deals with wills and have exclusive jurisdiction

138.

Which best describes the state Supreme Court...

a)

Deals with civil law, traffic, and limited jurisdiction

b)

Highest state court has 7 justices: original and appellate jurisdiction

c)

Deals with wills and have exclusive jurisdiction

d)

Deals with offenders under 17 years old

139.

Which best describes State Court

a)

Deals with civil law, traffic, and limited jurisdiction

b)

Deals with offenders under 17 years old

c)

Deals with wills and have exclusive jurisdiction

d)

Has 3 judges and appellate jurisdiction: judges serve for 6 years

140.

Which best describes an Appeals Court...

a)

Deals with civil law, traffic, and limited jurisdiction

b)

Deals with wills and have exclusive jurisdiction

c)

Deals with offenders under 17 years old

d)

Has 3 judges and appellate jurisdiction: judges serve for 6 years

141.

Which best describes Probate Court...

a)

Deals with civil law, traffic, and limited jurisdiction

b)

Highest state court, has 7 justices : original and appellate jurisdiction

c)

Deals with wills and have exclusive jurisdiction

d)

Has 3 judges and appellate jurisdiction: judges serve for 6 years

142.

What court can both appoint and elect its judges?

a)

magistrate

b)

juvenile

c)

supreme court

d)

superior

143.

Which court only appoints its judges?

a)

juvenile

b)

magistrate

c)

superior

d)

supreme

144.
 How long is the term of a member of the Georgia state supreme court?
a)
2 years
b)
4 years
c)
6 years 
145.
After the Supreme Court in Georgia, which court is the second most important?
a)
Superior Court
b)
The Court of Appeals
c)
Trial Cases
146.

What is an expenditure?

a)

Money earned by a worker

b)

Money spent

c)

Benefits from a job

d)

Money saved

147.

What is income?

a)

Money earned by a worker in a year

b)

Money spent

c)

Money set aside for future use

d)

Using money in hopes of gaining more in the future

148.

What is investing?

a)

Spending money on anything you want

b)

Saving money constantly

c)

using money in hopes of gaining more in the future by lending to businesses in exchange for a share of profits

d)

Setting aside money for future use

149.

What is saving?

a)

Amont of money used for purchasing items

b)

Setting aside money for future use

c)

Amount of money a worker earns

d)

Amount of money spent in a day

150.
Every month after my parents pay all of the family’s bills they set aside a little bit of money for the family to do fun things like go to the movies, bowling and even go to amusement parks.
My family uses a _____________
a)
income 
b)
debt 
c)
interest 
d)
budget 
151.
You find out that you are going to have to purchase your first car. You need to start using which of the following personal finance terms? 
a)
savings 
b)
budget 
c)
credit 
d)
you would need to use all 3 of these
152.
I have been setting aside $100 a month for my children to have money to go to college. This idea is known as what? 
a)
savings 
b)
credit 
c)
income 
d)
debt 
153.
You earn $300 a week and you are able to save half of that each week. You are saving money to go on a trip with your friends after you graduate high school. the trip is going to cost $1,350. How many weeks will you have to work to save enough money to go on the trip?
a)
4 and a half weeks 
b)
11 weeks 
c)
9 weeks 
d)
7 weeks 
154.

Which of the following is not true about the difference between credit cards and debit cards?

a)

purchases made with a debit card come directly out of your bank account

b)

you must pay off your credit card bill monthly or there will be penalties

c)

you must have a bank/checking account to use a debit card

d)

credit cards use money from your savings account

155.
The bank agreed to loan me the money that I needed to start my new business. My ability to borrow this money is known as what? 
a)
interest 
b)
budget 
c)
debt 
d)
credit 
156.
My cousin wanted to borrow $300 from me. I loaned him the money but I told him that he would have to pay me back $330. The money that was paid back to me on top of the loan is known as_________. 
a)
credit 
b)
interest 
c)
savings 
d)
debt 
157.

Joey was approved for a credit card and soon spent over $2000. What is the money owed called?

a)

Debit

b)

Savings

c)

Debt

d)

Bankruptcy

158.

What is the difference between a debit card and a credit card?

a)

A debit card takes money immediately from a bank account. With a credit card you pay later. (plus interest)

b)

A credit card takes money immediately from a bank account. With a debit card you pay later.

c)

A credit card takes money immediately from your savings fund. With a debit card you are charged interest.

d)

A debit card takes money immediately from your savings fund. With a debit card you are charged interest. (plus interest)

159.

What is bankruptcy?

a)

a legal proceeding involving a person or business that is unable to repay outstanding debts

b)

making money off of investments

c)

saving money for a business when making purchases

d)

Getting an extremely high mortgage

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