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Financial Literacy Review
Credit Score can impact ....
Why should you open a savings account?
Financial Literacy Review
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Questions
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Answers
1
Why should you open a savings account?
It helps you save for bigger purchases
You make interest from what you put in
Everything that was said but in blue.
You prefer to save money rather than spend it
2
Credit Score can impact ....
Your life-style
Your ability to get a loan
Your ability to buy a house
Your interest on your credit card
3
The bank I am thinking of was made in Quebec
TD
RBC
Scotia
BMO
4
What is the legal age you can open a bank account?
14
16
13
18
5
We owe the bank money if we cannot pay our credit card balance back
Choose me
False but in Green
True
False
6
Shopping is fun but....
Shopping online is more fun.
it can be addictive
It can get expensive fast
Buying too much can lead you to owe the bank
7
Debit Savings - Should be used as your everyday debit card
True
False
8
What is the formula for interest on Savings Accounts
P = A (1 + rt)
P = A/ (1 + rt)
A = R (1 + pt)
A = P (1 + rt)
9
The interest rate is 0.50%. He decides to put in 4,000 dollars. How much money he will have after 6 months.
1400
1040
4100
4010
10
19.99% is a regular credit card interest rate
Not True
Most likely not true
Not Not Not True
True
11
Why should you avoid using another banks atm
A service charge for using the atm
Your card won't work
It is scary
It scratches your card
12
She spends 6,000$ on her CC. The credit card has an APR of 19.99% How much she would owe at the
end of the (February)
6093.01
3930.01
6092.01
6092
13
Credit Cards Help You build Credit
False
True
14
What Bank has a Lion on the front
TD Bank
BMO
Scotia Bank
RBC
15
The bank I am thinking of is green.
Scotia Bank
BMO
TD
RBC
16
0.5% is a normal interest rate for credit cards
I wish....
Yes, but in green instead.
No
Yes
