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WorksheetsBizTown Financial Literacy Test - Part 1
Total questions: 55
Worksheet time: 32mins
Which of the following is a financial istitution?
library
city hall
museum
credit untion
True or False: A bank is a financial institution.
true
false
An account that allows you easy access to your money through a debit card, atm, or checks is called...
credit union
savings account
checking account
personal loan
Which is required when you deposit money into your account?
a signed deposist slip
your account number
a gift for the bank teller
swipe your credit card
What is your net pay?
the amount of your paycheck before all taxes and deductions are taken out
the amount of your paycheck after all taxes and deductions are taken out
You can continue to write checks as long as you have checks in your checkbook. True or False
true
false
What is a direct deposit?
When you receive your paycheck, you take the check directly to the bank to deposit
Your job deposits your paycheck directly into your account electronically
All transactions should be recorded in your bank register. True or False
True
False
How are credit cards and debit cards different?
they are exactly the same
a credit card is a loan, while a debit card deducts money directly from your checking account
a credit card allows you to purchase gas only
a debit card is a loan, while a credit card deducts money directly from your checking account
Why do banks offer different kinds of accounts?
there is only one type of bank account
different customers have different financial needs and goals
people voted for different accounts
Which of these statements about savings accounts is NOT true?
If the economy is doing poorly you should remove all money from your savings account and bury it.
the higher the interest rate, the more money you will earn.
the longer the money is saved, the more you will have for the future
the more money you add to your savings account, the faster your money will grow
A number required when a person uses a debit card; it ensures others can’t access the bank account
ATM
Credit Card
PIN (Personal Identification Number)
Debit Card
Card that allows you to spend only the amount you have pre-depositded into an account
Debit Card
Prepaid Card
Credit Card
Gift Card
A card that is purchased for a certain amount and then used like cash
Gift Card
Credit Card
Debit Card
Prepaid Card
Payment made online (or app) that allows the user to automatically debit a bank account or charge credit
Prepaid Check
Direct Deposit
PIN (Personal Identification Number)
Electronic Payment
A card that allows the holder to buy goods/services by taking out a bank loan
Prepaid Card
Gift Card
Debit Card
Credit Card
Card that allows customers to electronically and immediately withdraw funds from their accounts in cash, purchased goods or services
Credit Card
Debit Card
Prepaid Card
Gift Card
a written record of money put into a checking account
Check
Deposit Ticket
Electronic Transfer
Direct Deposit
a tool for recording money (deposited) or (withdrawn) from an account
Debit Card
ATM (Automatic Teller Machine)
Money Tracker
Prepaid Account
The freedom to act in a certain way
Citizen
Right
Responsibility
Good Samaritan
Which of the following are financial institutions? Choose all that apply.
bank
library
credit union
museum
A direct deposit is when you take your paycheck directly to the bank after you receive it.
True
False
A machine that allows bank customers to deposit or withdraw money without visiting their bank.
ATM
Check
Loan
Safe deposit box
A check that is written for more than the amount of money in a checking account.
Deposit ticket
Credit card
Bounced check
Paycheck
To write a signature on the back of a check.
Endorse
Income
Accrue
Interest
Putting money into an account.
deposit
withdrawal
Removing money from an account.
deposit
withdrawal
The money people earn for their work.
income
endorse
accrue
interest
The money people earn for their work.
income
endorse
accrue
interest
The current amount of money in an account.
bank
balance
savings account
checking account
A business that offers money-related services to its customers, including loans and checking and savings accounts.
bank
store
business
economy
A company that sells goods or services.
bank
credit union
online bank
business
A written order to a bank to pay a certain amount of money from a checking account to another person or business.
check
credit card
loan
debit card
A bank account used to pay bills and access funds using checks and debit cards.
savings account
taxes
credit card
checking account
A financial institution owned by its members that provides many of the same services as a bank.
online bank
ATM
credit union
savings and loan
A card that allows customers to electronically and immediately withdraw funds from their accounts, either in cash or to purchase goods or services.
debit card
credit card
check
ATM
Money borrowed that must be repaid, usually with interest.
savings account
checking account
loan
check
A service that allows customers to perform banking activities using the Internet.
ATM
online banking
credit union
A bank safe where documents, jewelry, or other valuables are kept.
savings account
checking account
safe deposit box
ATM
An account that usually earns interest and is often used to hold money that is not needed right away.
savings account
checking account
credit union
savings and loan
A business agreement or exchange.
paycheck
transaction
deposit
loan
The chief financial officer responsible for a business's finances
CEO
CFO
Account Manager
employee
A booklet for recording money put into (deposited) or removed (withdrawn) from an account
credit card
savings and loan
check register
balance
A written record of money put into a checking account
check
check register
balance
deposit ticket
The amount of money placed into an account after all deductions, such as cash back, are made.
net deposit
deposit ticket
checking account
paycheck
A check received for work completed
deposit
paycheck
checking account
check register
A fee received or paid for the use of money
loan
interest
check
paycheck
