WorksheetsUnit 3 Principles of Money Exam Study Guide
Total questions: 30
Worksheet time: 15mins
What does PIN stand for?
Personal Information Number
Personal Identification Number
Private Internet Number
Public Identification Number
What is a check?
A digital payment method
A written order to pay someone from your bank account
A type of credit card
A savings account feature
What is an overdraft?
A type of savings account
Spending more money than you have in your checking account
A fee for using an ATM
A reward for using a credit card
What is a Credit Score?
A number representing your bank balance
A number representing your creditworthiness
A type of loan
A fee for using a credit card
What is a savings account?
An account for everyday expenses
An account where you keep money safe and earn a little extra money over time
A type of loan
A prepaid card
What is an ATM?
A machine that dispenses snacks
A machine that lets you withdraw money from your bank account using a card
A device for online shopping
A tool for budgeting
What is a Checkbook Transaction Register?
A tool for online banking
A booklet to record all transactions in your checking account
A type of credit card statement
A savings account summary
What is a Prepaid Card?
A card that lets you borrow money
A card you can load money onto and use like cash
A card for earning rewards
A card for overdrafts
What is an Annual Fee?
A fee for using an ATM
A yearly charge for having a credit card
A fee for overdrafting your account
A fee for opening a savings account
What is a checking account?
An account for long-term investments
An account where you can deposit and withdraw money easily
A type of credit card
A tool for recording transactions
What is Cashback?
Money you get back when you use your credit card to buy things
A fee for using a credit card
A type of loan
A savings account feature
What is a debt?
Money that you owe to someone
A type of savings account
A reward for using a credit card
A fee for using an ATM
What is a loan?
Money that someone borrows from another person or a bank
A type of savings account
A fee for using a credit card
A reward for using a credit card
What is a Credit Limit?
The minimum amount you can borrow on a credit card
The maximum amount of money you can borrow on a credit card
The interest rate on a loan
The fee for using a credit card
What is a budget?
A plan for how you spend your money
A type of credit card
A savings account feature
A fee for using a credit card
Emily wants to make a purchase but doesn't have enough cash. She decides to use a card that allows her to borrow money and pay later. What type of card is she using?
Prepaid Card
Debit Card
Credit Card
ATM Card
Michael is trying to make a purchase but realizes he has spent more than what is available in his checking account. What financial term describes this situation?
Savings
Overdraft
Cashback
Credit Limit
Which of the following is a card that you can load money onto and use like cash?
Credit Card
Prepaid Card
Debit Card
Check
Which of the following is a written order to pay someone from your bank account?
Check
Debit Card
Prepaid Card
Credit Card
Which of the following describes a plan for how you spend your money?
Budget
Loan
Debt
Savings
Which financial product allows you to earn points or miles that can be redeemed for travel or merchandise?
Prepaid Card
Rewards Credit Card
Savings Account
Checking Account
Samantha wants to keep her money safe and earn interest over time. Which type of account should she consider?
Checking Account
Prepaid Card
Savings Account
Credit Card
What is the term for the extra money you pay when you borrow money, usually expressed as a percentage of the balance?
Cashback
Interest
Annual Fee
Credit Limit
If a person has a high credit score, what does it indicate about their financial behavior?
They have a high amount of debt.
They are likely to default on loans.
They have a history of responsible financial behavior.
They frequently overdraft their accounts.
Which of the following is a yearly charge for maintaining a credit card?
Cashback
Annual Fee
Interest
Rewards
What is the term for the maximum amount of money you can borrow on your credit card?
Credit Score
Credit Limit
Overdraft
Loan Amount
David is recording all his financial transactions to keep track of his spending. Which tool is he most likely using?
Credit Score
Checkbook Transaction Register
Annual Fee Statement
Loan Agreement
Jessica wants to withdraw cash from her bank account without visiting the bank. Which of the following options should she use?
Prepaid Card
Automated Teller Machine (ATM)
Checkbook Transaction Register
Credit Card
Which of the following is a secret code used to access bank accounts and ensure security during transactions?
APR
PIN
Credit Limit
Interest Rate
Which of the following is a number that represents an individual's creditworthiness?
Credit Score
APR
PIN
Loan Amount
