WorksheetsCFM Credit Cards and Review
Total questions: 27
Worksheet time: 2hrs 5mins
The amount left over from your paycheck after taxes and deductions are withheld is called ___________.
balance
gross balance
transaction
net pay
You can continue to write checks as long as you have checks in your checkbook.
True
False
Credit cards and debit cards are essentially the same thing.
True
False
A card that allows the holder to buy goods and services by taking out a bank loan.
Checking account
Credit card
Debit card
Savings account
Putting money into an account.
deposit
withdrawal
Removing money from an account.
deposit
withdrawal
Debit card purchases are “buy now, pay now” so you must have enough money in your account to cover your purchase.
True
False
If you spend more money than is in your account, your bank will charge you a fee.
True
False
When using a credit card, you will be charged interest if the balance is not paid within 30 days.
True
False
A debit card is basically an electronic check.
True
False
Jade uses $30 from her checking account to donate money to her favorite charity. Will this be a deposit or a withdrawal when she enters the information into her check register? Explain.
Deposit; she put the money into her account.
Deposit; she took the money out of her account.
Withdrawal; she put the money into her account.
Withdrawal; she took the money out of her account.
Tyler got a $140 refund. The refund is sent to his checking account. Will this be a deposit or a withdrawal when he enters the information into his check register? Explain.
Deposit; he put the money into his account.
Deposit; he took the money out of his account.
Withdrawal; he put the money into his account.
Withdrawal; he took the money out of his account.
Deanna has a balance of $324.55 in her checking account. She uses her debit card to pay $102.00 for a concert ticket. What is the balance in her checking account now?
$102.00
$222.55
$324.55
$426.55
Identify the borrower least likely to be offered a loan, if the decision were solely based on his or her credit score.
P. Lori
S. Spade
R. Como
D. Panton
Identify the borrower most likely to be offered a loan at a lower interest rate, if the decision were solely based on his or her credit score.
L. Strong
S. Blake
J. Bono
G. West
Identify each statement as true or false.
Making late payments helps maintain a positive credit history.
true
false; Making late payments has no impact on credit history.
false; Making late payments leads to a negative credit history.
false; Making late payments are never indicated on a credit report.
Identify each statement as true or false.
Establishing a positive credit history allows you to borrow money for houses and cars.
true
false; Establishing a negative credit history allows you to borrow money for houses and cars.
false; Your credit history has no impact on whether you will get a loan in the future.
false; These purchases are relatively small and lenders will not check your credit history in these cases.
A plan for spending
income
expenses
sales tax
budget
This is a booklet with a table for recording information about checks written and other deposits and withdrawls from a checking account
Account Balance
Check Register
Impulse Buying
Comparison Shopping
A crime that involves someone pretending to be another person in order to steal money or obtain benefits
Identity Theft
Expense
Credit Report
Comparison Shopping
A number assigned to a person that indicates to lenders their ability to repay a loan.
Identity Theft
Expense
Credit Score
Comparison Shopping
Before taxes and deductions, Mrs. Allen's pay was $1,600. This is considered her -
net income
gross income
deposits
income tax
The type of income you receive that will change based on how much you work.
Daily
Salary
Hourly
Annual
A withdrawal is money ________ of your bank account
put into
taken out
