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Financial Literacy

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Financial Literacy Review 6th Grade

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Questions 10

Answers

1
What is the balance in the account after all transactions?
$74.34
$160.82
$44.34
$14.34
2
For one job what type of education would likely get you the largest income?
doctoral degree
associate's degree
bachelor's degree
master's degree
3
Which statement describes both a debit card and a credit card?
Rewards are offered forpurchases.
It can be used at moststores to make a purchase.
It is generally given toall bank customers.
Interest is charged onpurchases.
4
Which item is not part of a credit report?
any missed payments on aloan
the number of times a debitcard was used
the applicant’s creditscore
the number of credit cardscurrently open
5
Don is applying for a carloan, what best ensures he will receive the lowest interest rate?
a high mortgage amount onhis home
a post graduate degree
a good credit score
a proof of renter’sinsurance
6
John earns $2,340 per month with a yearly bonus of $750. How much would he earn in 30 years?
$28,830
$28,080
$842,400
$864,900
7
Which item is the most significant factor in a good credit score?
years of credit history
paying bills on time
new credit
types of credit used
8
Which statement applies only to a debit card?
C
D
A
B
9
Which statement is false?
Late payments can affect acredit score.
High credit card debt cancause a high credit score.
10
Which statement best describes an overdraft?
money taken out of anaccount from a check or ATM
the amount of money in anaccount at any given time
an amount of money put intoan account
when a bank account balancegoes below $0