6th grade Personal Financial Literacy

Question 1

______________ allow you to pay for items in installments over time.

Accepted Answer

credit cards

Question 2

____ cards take money immediately from your account while ____ cards allow you to pay over time

Accepted Answer

Debit; credit

Question 3

The form used to apply for federal money to attend a college or university is called the:

Accepted Answer

FAFSA

Question 4

Late payments are retained on credit reports for how long?

Accepted Answer

7 years

Question 5

Grant spent $80 at Chuck E. Cheese, but only had $20, so he was charged a/an _____________.

Accepted Answer

overdraft fee

Question 6

Thanks to his black belt and unique talent for the banjo, Andy earned a ______________ .

Accepted Answer

scholarship

Question 7

Income earned by a person based on the amount of hours worked within a specific time frame

Accepted Answer

wages

Question 8

Money received by a student in order to attend school that does not have to be repaid is called

Accepted Answer

a grant

Question 9

A ___ is given for a good, service, or to attend school and is paid off over time with interest

Accepted Answer

loan

Question 10

Your _______________________ is a number used to identify you and should closely protected.

Accepted Answer

social security number

Question 11

A person who owns a business or organization is called a(n)

Accepted Answer

entrpreneur

Question 12

Dylan's checking account balance was so low, she had to _________ money from her savings.

Accepted Answer

transfer

Question 13

Ben bought toilet paper with his debit card. That money gets taken from his ________.

Accepted Answer

checking account

Question 14

____________ must be paid back with interest.

Accepted Answer

student loans

Question 15

At a bank, your _____ ______ is how much money is available for you to use

Accepted Answer

account balance

Question 16

Many adults keep track of their money by logging all transactions in a __________________.

Accepted Answer

check register

Question 17

You should always be aware of your ____________ before spending money on something.

Accepted Answer

checking balance

Question 18

Income a person earns based on education/experience and listed on a contract as an annual sum

Accepted Answer

salary

Question 19

Sophia has a high credit score, so ____________ consider her a good risk.

Accepted Answer

lenders

Question 20

_______ or more is considered a good credit score.

Accepted Answer

700

Question 21

This account is allows users withdraw money immediately using a paper slip or plastic card.

Accepted Answer

checking account

Question 22

Some kids work in the campus cafeteria to help pay for college. This is known as __________.

Accepted Answer

work-study

Question 23

It is always best to use ____ as much as possible when purchasing items or paying for services

Accepted Answer

cash

Question 24

Having this account makes it easier to set aside money for later use and can even gain interest

Accepted Answer

checking account

Question 25

Mrs. Cooper's _____________ was lower than 580, so no one would lend her money.

Accepted Answer

credit score

6th grade Personal Financial Literacy

Questions 25

6th grade Personal Financial Literacy

Questions 25