WorksheetsFinance Review (8th grade)
Total questions: 26
Worksheet time: 13mins
Fill in the blank: Values are ____________.
a fundamental belief or practice about what is desirable, worthwhile, and important to an individual
a set of rules enforced by law
a temporary feeling or emotion
an object of monetary value
Fill in the blank: Needs are ________ that we must have for survival.
aspects
choices
wants
possessions
Fill in the blank: Wants are _________
desires for goods or services that increase the quality of life
needs required for survival
obligations imposed by society
resources that are limited and scarce
Fill in the blank: A ______ is a financial plan for a specific period of time involving your income and expenses.
budget
receipt
invoice
contract
Fill in the blank: Expenses are ________ that you spend on aspects such as payments, bills, entertainment, insurance.
money
food
clothes
vehicles
What is the definition of 'Income'?
Money received for work or investments
Money spent on goods and services
Money saved in a bank
Money borrowed from others
Which type of account generally earns higher interest than a checking account?
Savings Account
Checking Account
Credit Card Account
Loan Account
A savings account helps you save your money so you won’t ______ it.
spend
lose
find
borrow
What is the definition of a Checking Account?
A deposit account held at a financial institution that allows withdrawals and deposits.
A type of loan provided by banks for purchasing homes.
An investment account used for trading stocks and bonds.
A savings account with a fixed interest rate and limited withdrawals.
Fill in the blank: A ______ is a card that allows consumers to purchase goods or services on credit.
credit card
debit card
gift card
membership card
What is a debit card?
A card issued by a bank that allows you to transfer and deposit money (connected to your checking and savings account).
A card that is only used for online shopping and cannot be used at ATMs.
A card that is issued by stores for loyalty points and discounts.
A card that allows you to borrow money from the bank and pay it back later.
Fill in the blank: ________ is what you bring home after taxes are taken out.
Net Pay
Gross Pay
Bonus
Allowance
What is the term for 'Your salary before taxes are taken out'?
Gross Pay
Net Pay
Take-home Pay
Deducted Salary
What is the meaning of the word 'Deposit'? Fill in the blank: Deposit means _________.
Money that you place at a bank for safekeeping (the income that you receive from work or investments)
A type of loan you take from a bank
A fee charged by the bank for account maintenance
A password used to access your bank account
Which of the following is an advantage of credit?
A) Buy now...Pay later
B) Fees/Charges
C) High interest rates
D) May cause debt
Which of the following is an advantage of credit?
Used for emergencies
Missing a payment will affect your credit score
Fees/Charges
High interest rates
Which of the following is a disadvantage of credit?
Improves credit score
Buy now...Pay later
May cause debt
May include perks
Which of the following is a disadvantage of credit?
A) Missing a payment will affect your credit score
B) Buy now...Pay later
C) Used for emergencies
D) May include perks
Fill in the blank: Opportunity Cost is defined as your ________, or your plan B.
next best choice
first choice
final decision
primary goal
What is a credit score?
A measurement of a person's financial health based on how well they pay their bills
A person's age
The amount of money a person has
The number of credit cards a person owns
What is the credit score range.
300-850
650-699
700-749
750-800
What does ATM stand for?
Advanced Transaction Module
Automatic Transfer Machine
Automated Teller Machine
Account Tracking Monitor
What is the function of an Automated Teller Machine (ATM)?
It is a place to buy groceries
It is a type of car
It is a type of computer
It lets you do banking by yourself without needing to go inside the bank
PIN stands for Personal Identification Number
True
False
A routing number is a ______ code that tells which bank your account is at.
random
secret
color
special
An account number is a unique number that identifies your personal bank account.
False
True
