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Worksheets(DG) CF2.U4-8th Study Work Practice
Total questions: 40
Worksheet time: 43mins
Revolving credit is...
a type of credit that can be used repeatedly up to a certain limit as long as the account is open and payments are made on time.
a type of credit that can be used only once up to a certain limit and must be closed immediately after all payments are due
a spinning door with money in it
a round device that holds credit cards and spins, making it easy to shuffle through all your credit cards quickly
Which of the following is not a characteristic of an installment loan?
repaid over time
scheduled payments
accompanied by an interest rate
also known as a revolving loan
What is an interest rate?
it is your level of interest about a certain topic expressed as a percentage of your total interest
The amount in terms of dollars that you have to pay back on a purchase
it is the rate at which your interest in something expires. The higher the number, the quicker your interest expires
The amount in terms of a rate or percentage that you have to pay back on an amount borrowed
What is a loan term?
The amount of time a revolving line of credit can be open
The payment of income to a savings account in regular payments over a set period of time.
The period in which the loan is to be repaid, each payment broken down into individual installments
Specifically related to the black market for human organs, and typically meant as the length of time one's kidney will be used for other purposes
Why would you want to have a savings account?
To put money towards retirement.
It is safe and ensured while kept in the bank.
Purchases are easier through savings accounts.
To show that you have money.
Which of the below is NOT a reason to get a checking account?
You can deposit your paycheck.
You can use your account to pay bills.
Checking accounts help you track how you spend money.
So your friends and family have access to your funds.
When purchasing goods when you don't have the money right away, you are using...
bad judgement
credit
loan
debt
When determining your budget, what should be considered?
the right bank
having more income than expenses
ability to afford all wants and needs
all of the above
This will result in which of the following fees?
What is wrong with this check?
Name is incomplete
Check amount is not written out
Signature issues
Date issues
How much is the check worth?
$5
$50
$500
$0
What is line. "E". for?
Signature line
Total putting into the bank
Total money want to keep
Total cash to put into bank
What is line. "F". for?
total Cash you want to keep
Total cash putting into bank
Total Checks putting into bank
Total money putting into bank
What is line. "C". for?
How much cash you have
How much cash you want to keep
Checks you have to put into bank
total money putting into bank
Protection provided by the Federal Deposit Insurance Corporation; protects the deposits of customers against loss up to $250,000 per account
Check Cashing Store
FDIC Insurance
Bank Statement
Which of the following are parts of writing a check?
Date
Signature
Who you are paying
The address of the person you are paying.
Where can you find the check number?
At the bottom of the check.
At the top of the check next to the date.
What type of endorsement is this?
Blank
Special
Restrictive
Mobile
What type of endorsement is this?
Blank
Special
Restrictive
Mobile
What type of endorsement is this?
Blank
Special
Restrictive
Mobile
What type of endorsement is this?
Blank
Special
Restrictive
Mobile
What is the purpose of a special endorsement?
It allows a payee to make a check payable to another person or entity without having to deposit it and write a new check.
It allows anyone to cash the check.
These types of endorsements are not allowed.
An endorsement in which the original owner transfers ownership to another person.
Blank
Special
Restrictive
Mobile
An endorsement consisting only of the signature of the person to whom the check was written
Blank
Special
Restrictive
Mobile
An endorsement limiting what can be done with a check is a
blank endorsement
special endorsement
restrictive endorsement
Mobile
What is the difference between month to month and a term lease?
Month to month-can leave after a month with 30 day notice
Term lease- must stay whole term (6 month-1 year)
Month to month-can leave any time
Term lease- can leave after 3 months
Month to month-can leave after a month with 30 day notice
Term lease- can leave after 3 months
Month to month-can leave any time
Term lease- must stay whole term (6 month-1 year)
Which of the following is not an obligation of a tenant?
Comply with building rules
Keep apart. unit clean
Remove waste from individual apart. unit
Check smoke detectors
Which of the following is not an obligation of a landlord?
Keep plumbing pipes clear and clean
In sure running hot water
Utilities are in safe working order
Clean and safe building premise
A Rental Agreement is often referred to as a
renter's rights
landlord's rights
lease
all of the above
When it is time to look for a place of your own, it will be important to think about
the type of place you need
the location of the place
how much rent you can afford to pay
all of the above
A rental agreement
is legal contract between the tenant and landlord.
states how much rent will cost.
. states the length of the rental agreement
all of the above
Financial experts recommended, when you rent, the amount of rent you pay should not be more
than 10% of your take home pay.
than 30% of your take home pay.
than 50% of your take home pay.
than 70% of your take home pay.
