WorksheetsPersonal Finance Literacy
Total questions: 15
Worksheet time: 8mins
An identification card issued by a bank that allows a user to buy items and services immediately and pay the cost at a later time.
Credit Card
Debit Card
Bank Card
Check
An identification card issued by a bank that allows a user to immediately use money from an account. You have a personal identification umber (PIN) to keep it safe.
Credit Card
Debit Card
ID Card
Driver's License
An estimate of income and spending for a set period of time, usually by month or year.
Markdown
Income Tax
Sales Tax
Budget
What is income?
The money that you earn
The money that you spend
Making a withdrawal
Making a phone call
Adda has just moved into her own apartment and is working full time. Each item below would go into her budget in the "Monthly Bills" category EXCEPT...
Cell phone plan
Rent
Clothing
Electricity bill
Marshawn is trying to determine if an item at the mall is a NEED or a WANT. Which question will be most helpful?
Will something bad happen if I don't have this?
Do any of my friends have this item?
How happy will this item make me?
Will my teachers be excited if I buy this item, or will they be disappointed?
Who has to pay taxes to the US government?
Every citizen, regardless of their age or working status
Every person or company that earns income in the US
Anyone who owns a home or attends a public school
No one has to - taxes are a voluntary program
Which of the following is a want?
Food
Water
Shelter
Video game
T/F: A negative credit event (bankruptcy) can have a WORSE impact on a higher credit score.
True
False
Which of the following does NOT contribute to your credit score?
Your payment history
Which banks issued your credit cards
Your debt-to-credit ratio
Length of credit history
Jim is 23 and has 1 credit card. What would be the best way to improve his credit score? (hint: choose 2 correct answers)
Get 4 more credit cards in the next 3 months
Diversify his credit - get an loan for the car he needs
Make sure he makes his payments in full & on time
Increase his credit utilization rate
You were a high school athlete. The university is paying your tuition while you play on the college team.
scholarship
grant
work study
loan
You borrowed money through a federal program to pay for your education this year.
scholarship
grant
work study
loan
