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WorksheetsW!SE Subset A and B
Total questions: 14
Worksheet time: 7mins
Which of the following would be considered "GOOD" debt?
A loan for a vacation
Mortgage for your home
Credit Card Debt
Car Loan
When you are looking to open a Certificate of Deposit (CD), what should you be looking for?
Which bank has the highest interest rate
How much money you want to save
How long it will take your money to double
The interest rates from the Federal Reserve
Why is it safer to keep your money in the bank than in your house?
The bank's money can never be stolen
You can take your money out of the bank whenever you want
The bank's money is insured by the FDIC
The bank pays you a lot of interest for your money
You earned 3% more this year than last year but the cost of food has gone up 7%. Which of the following should you do ?
Ask for a raise
Spend less on fixed expenses
Get a second job
Spend less on variable expenses
What's a good reason to use a Credit Union?
Credit unions offer better rates to their members
Credit Unions do not charge interest on loans
Credit Unions are FDIC insured
Credit Unions are privately owned
An advantage of a SMART goal is that they are....
They are always for financial gain
They can help pay your taxes
They are time based
They focus on interest and doubling your money
Which word best describes "Checking" and "Savings" account?
Liquidity
Credit
Retirement
Interest
If you put $25,000 down on a house instead of $15,000, what will that do for your monthly mortgage?
Your mortgage payments will be higher
You will be able to get a more expensive house
Your mortgage payments will be smaller
Your mortgage payments won't be affected by how much you put down
What are the biggest FACTORS of someone's earning potential (how much $$ they can make)
Height and Age
Savings and Checking
Income and Profit
Education and/or Training
Which of the following is something that someone who is "Financially Literate" would do?
Have a monthly budget to plan for expenses
Take on risky investments and never do their research
Buy cars they cannot afford
Spend more than they bring in a month
Why do some banks offer Overdraft Protection?
To warn you before you spend more than you have in your account
To make sure you only take out money from ATMs in their network
In case you withdraw or spend more than you have in your account, they protect you
To make extra money
Some people/places require a bank note or a money order instead of a check. Why are bank notes/money orders safer than checks?
Bank notes must be spent within ten days
Bank notes/Money orders are prepaid and guaranteed money
Checks may not be signed
Bank notes and checks are the same thing
What's the risk if a check is made out to "Cash"?
Anyone can deposit the check if it's made out to cash
The check is less secure
You can change the amount the check is for
You only have a week to deposit the check if it's made out to cash
What does the Federal Reserve do to manage the money supply?
Offer liability and collision insurance
Provide government funding for health care
Insure the banks
Raise and lower interest rates to fight inflation
