Financial Literacy Pre Test

Which of these best describes a "budget"?

When you use a debit card, the money comes from your __?

Compared to a savings account, a checking account is best for

At what age can you open a bank account without the help of an adult?

Which actions will NOT help a person establish a positive credit report?

Which must be paid back when you are paying for college?

Which is true about a credit score?

A paycheck and a personal check are the same thing

You can take money out of your savings account whenever you want

What is a credit score used for?

Bad information on your credit report can stay on there for up to how long?

If you write a check for more money than you have in your checking account, the check will __

I can use this instead of a debit card and the money comes out of my checking account.

True/False: Overdraft means I have used more money than I have available in my checking account

This allows you to buy things using the bank's money and pay later