WorksheetsFinancial Terms
Total questions: 15
Worksheet time: 8mins
What are fixed costs?
Expenses that change every time
Expenses where the amount you pay is the same each time
Expenses that increase over time
Expenses that decrease over time
What is a budget?
A plan to spend money on entertainment
A spending plan to manage money over a specific period of time
A list of items to buy
A way to save money without spending
What are bills?
Amounts of money saved for future use
Amounts of money spent to purchase goods and services for yourself or your business
Amounts of money borrowed from a bank
Amounts of money earned from a job
What is an overdraft?
The act of saving money
The act of spending more money than you really have
The act of earning more money
The act of borrowing money
What are Advanced Placement classes also known as?
AP classes
Honors classes
College Prep classes
Dual Enrollment classes
What is one benefit of taking AP classes and passing the exam?
Saving money on college classes
Guaranteed college admission
Free textbooks
Extra vacation days
What are dual credit classes also known as?
AP classes
DC classes
Honors classes
Elective classes
What is one benefit of taking dual credit classes?
They only count for high school credit.
They are more expensive than regular classes.
They count for both high school and college credit.
They do not affect college admission.
What is a student loan?
Money given to university students that does not need to be repaid
Money delivered by specific financial institutions for university students that must be repaid with interest
A scholarship for university students
A grant for university students
What is a scholarship?
A loan given to students
Money awarded to students based on need
Money awarded to students who applied and were chosen
A fee students pay for classes
On what basis can scholarships be awarded?
Only on financial need
Based on academic merit or athletic success
Based on community service
Only on athletic success
Who can receive a scholarship?
Any student who wants it
Students who applied and were chosen
Only students in sports
Only students with financial need
Which of the following is NOT a basis for receiving a scholarship?
Academic merit
Athletic success
Financial need
Applying without being chosen
Who are Tuition Guarantee Programs generally for?
Students at approved schools
All students
Students in private schools
Students in international schools
When can the money from a College Savings Account be used?
For buying a car
For paying college tuition
For purchasing a house
For starting a business
