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Financial Literacy
Financial Literacy
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Pre-assessment of the 6th Grade Financial Literacy TEKS.
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
Debt is the total amount of money in your bank account.
False
True
2
Something unnecessary to live but desired
Want
Need
3
The total amount of money you earn each pay period before deductions is your
Gross pay
Net pay
4
The lowest amount you must pay toward your credit balance each month is called
opportunity cost
minimum payment
5
Necessary or essential items required for life.
Need
Want
6
When creating a budget, there should be money left over, just in case.
True
False
7
Which is an example of personal information?
Social Security Number
Best friend's name
8
A bank manager can help you with financial questions at a bank.
True
False
9
When creating a budget, you should only consider your wants.
True
False
10
When making a decision you should consider your
Resources
Friends opinion
11
Which is a common way someone may steal your information?
Phishing for information
Telling you a story
12
Shopping for groceries online is convenient and avoids impulse buys.
False
True
13
What is an ATM?
Anytime Teller Machine
Automatic Teller Machine
14
When you write a goal, it should be
Short, Messy, Accessible, & Trendy
Specific, Measurable, Attainable, & Time bound
15
On a paycheck, the amount of money that goes into your account is the
Gross pay
Net pay
16
A PIN is used to
Complete a banking transaction
All of the above
Secure your debit card purchases
Access private financial information
17
Which is a service a bank provides?
Online shopping
Online banking
18
When calculating how much you earned, you should add your hours worked and hourly wage.
False
True
19
When meal planning, it is a good idea to plan for only 1 day at a time.
True
False
20
A credit card should be used for small, daily purchases
False
True
21
It is okay & safe to share your personal information online, as long as you recognize the website.
True
False
22
What is an example of a need?
An affordable pair of new jeans
An expensive pair of new jeans
23
When living on your own, having a roommate can save you money
True
False
24
Which of the following can be used to deduct funds automatically from a checking account?
Debit Card
Credit Card
25
Which should be used to make purchases such as going out to lunch and buying a friend's birthday gift?
Debit Card
Credit Card
