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Financial Literacy STAAR Review Flashcards | StudBud

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Financial Literacy STAAR Review

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Financial Literacy Review 6th Grade

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Questions 10

Answers

1
Which statement applies only to a debit card?
C
D
B
A
2
Which item is the most significant factor in a good credit score?
types of credit used
paying bills on time
years of credit history
new credit
3
Mr. O’Brien plans on usingthe check shown below to pay for photographs.
Space D
Space A
Space B
Space C
4
Which statement bestdescribes an overdraft?
money taken out of anaccount from a check or ATM
an amount of money put intoan account
when a bank account balancegoes below $0
the amount of money in anaccount at any given time
5
What amount can Leah expectto pay for tuition each year?
$3,500
$7,210
$6,840
$1,710
6
Which statement describes both a debit card and a credit card?
Rewards are offered forpurchases.
Interest is charged onpurchases.
It is generally given toall bank customers.
It can be used at moststores to make a purchase.
7
Which item is notpart of a credit report?
the number of times a debitcard was used
the number of credit cardscurrently open
any missed payments on aloan
the applicant’s creditscore
8
Josephine moved money from her savings account into her checkingaccount. What is this called?
transfer
debit
deposit
withdrawl
9
Don is applying for a carloan, what best ensures he will receive the lowest interest rate?
a good credit score
a high mortgage amount onhis home
a proof of renter’sinsurance
a post graduate degree
10
Which statement is false?
High credit card debt cancause a high credit score.
A credit score helps you get lower interest rates.
Free credit reports areprovided once a year.
Late payments can affect acredit score.