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WorksheetsPersonal Finance Quiz
Total questions: 15
Worksheet time: 45mins
One difference between a fixed rate card and a variable rate card, is that a variable rate card-
has an APR that changes from time to time and notification is not required.
must first notify you before increasing the APR.
doesn’t have a changing APR, or at least doesn’t change often.
offers a variety of APR options so that you can choose what works best for you.
Many credit card companies offer ________ to use their cards, such as rebates, frequent flier miles, and “free” gift cards to popular stores.
APRs
incentives
compound interest rates
Tiered APRs
Which of the following terms refers to the number you are given based on key pieces of your credit history to calculate your score at the moment?
APR
Credit Limit
Credit Score
FICO Score Limits
Which of the following would be considered an excellent credit score?
100
300
600
800
What is the annual percentage rate for purchases for this credit card?
22.24%
19.24%
28.24%
37.24%
If you receive a cash advance from the ATM using your credit card, what percent in interest will you pay on that cash?
19.24%
22.24%
28.24%
37.24%
On 5/12/22 you go to Target and buy school supplies for $20.50. You then go to Starbucks and buy a drink for $6.50. What is your balance in your checking account at the end of the day?
$27.00
$473
$479.50
$527.00
What was your checking account balance at the end of the day on 3/14?
$350.05
$390.04
$310.06
$500.00
What was your checking account balance at the end of the day on 3/19?
$204.81
$310.06
$415.31
$350.05
According to the 50/30/20 budgeting rule of thumb, what percentage of your income should be spent on needs?
50%
30%
20%
0%
The largest component of one’s credit score is ________.
Payment History
Length of Credit History
Credit Mix
New Credit
Which of the following is a correct example of a fixed expense?
Groceries
Gas
Rent
Medical bills
Which of the following is an example of a variable expense?
Rent
Car payment
Groceries
Health insurance
Which of the following would be classified as a "want" in a budget?
Buying a monthly bus pass to use to get to work downtown
Paying your monthly internet bill
Buying a Nintendo Switch
Paying your monthly electricity bill
How much would you pay in fees if you had 2 credit cards through this company for one year?
$0
$15
$20
$35
