What are some disadvantages to using cash as a method of payment?

online purchases impossible, little proof of purchase

What is an advantage of using a check to pay a bill?

He does not have to pay interest.

Elorm makes $289 a week. His total payroll deductions are $42. How can he find his net income?

Subtract his deductions from his gross income.

Gabriel buys groceries with his credit card. What is a disadvantage of using his credit card?

He must pay it back with interest.

What are some advatages to a credit card?

easy to carry, offer rewards, can improve credit score

Which is a true statement?

Gross is the total amount, net is after deductions

Obtaining money from an ATM machine is similar to ________.

withdrawing money from your bank account.

Pay bills on time. Pay yourself first. Avoid overdraft fees. These are tips for what?

Responsible financial behavior.

What is an advantage of using cash to pay for stuff?

No way to have identity stolen.

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Combined: Credit Card IQ Quiz + Personal Financial Literacy TEKS 5.10A - 5.10C + Financial l...

23 termsStudBud Administration444 plays

Credit Card IQ Quiz: #6th math financial literacy Personal Financial Literacy TEKS 5.10A - 5.10C: #quiz, #personal financial literacy, #math, #fifth grade, # math TEKS 5.10A, 5.10B, 5.10C Financial literacy : #math #financial #literacy #7th grade Financial Literacy: 6th grade

Flashcards23 cardsFPractice quizPHost liveL

Questions 23

Answers

1
What can a budget do?
Plans for expected costs and unexpected cost.
develop money management skills and responsibility
All of the above
Cut spending, spend wisely And Save for a car vacation etc.
2
Credit card companies charge stores a percentage purchased with a credit card.
False
True
3
What are some disadvantages to using cash as a method of payment?
Nothing, cash is perfect.
Hard to handle, not enough in the world, easy to lose
online purchases impossible, little proof of purchase
It's green, gives paper cuts, smells bad
4
Read question in picture
I only
II and III
I and II
II only
5
What is an advantage of using a check to pay a bill?
It takes longer to write a check than swipe a card.
Some businesses no longer accept checks.
He does not have to pay interest.
He does not have to enter the expense in his check register.
6
Elorm makes $289 a week. His total payroll deductions are $42. How can he find his net income?
Subtract his gross income from his net income.
Subtract his net income from his gross income.
Add his gross income and his deductions.
Subtract his deductions from his gross income.
7
Most credit cards have a credit limit.
False
True
8
Gabriel buys groceries with his credit card. What is a disadvantage of using his credit card?
He borrows $ to get groceries if he does not have the money.
He must pay it back with interest.
He may earn cash back on his purchase.
There is no way for his identity to be stolen.
9
Credit cards are accepted as cash by stores.
False
True
10
What are some advatages to a credit card?
easy to carry, easy to use, PIN protected,
easy to carry, offer rewards, can improve credit score
Not mentioned
saves time, ability to buy online
11
Borrowing money by using money that is loaned to you and is paid back with ________
A herd of elephants
Interest
Change
A bank deposit
12
If I pay my credit card in full by the due date, I will not owe any interest.
True
False
13
Which is a true statement?
Gross is the total amount, net is after deductions
Gross income is disgusting.
Net income is the total amount earned.
Payroll taxes - gross income = net income.
14
Read question in picture
withdrawal fee
overdraft
debit card fee
monthly service fee
15
Elijah's monthly paycheck is $1781.03. What do we call this amount?
deductions
gross income
net income
payroll tax
16
There’s no penalty if I pay my balance after the due date.
True
False
17
Which of the following are the benefits of a debit card?
It eliminates the need to carry a lot of cash.
All of the above.
It is convenient.
Can be used instead of checks.
18
Obtaining money from an ATM machine is similar to ________.
withdrawing money from your bank account.
adding interest to your bank account.
loaning money to another person.
make a deposit.
19
Pay bills on time. Pay yourself first. Avoid overdraft fees. These are tips for what?
Methods of payment.
Collage savings plans.
Responsible financial behavior.
Wht a badger can do.
20
If I pay the minimum monthly payment, then I won’t owe any interest.
False
True
21
My credit report contains information on bills I have not paid.
True
False
22
Which of the following would be considered a fee for a checking account?
debit card fee
all of the above
monthly service fee
overdraft fee for checks
23
What is an advantage of using cash to pay for stuff?
You have to carry it around everywhere.
No way to have identity stolen.
You have to pay interest.
It could be stolen from your wallet.

Combined: Credit Card IQ Quiz + Personal Financial Literacy TEKS 5.10A - 5.10C + Financial l... Flashcards | StudBud

Combined: Credit Card IQ Quiz + Personal Financial Literacy TEKS 5.10A - 5.10C + Financial l...

23 termsStudBud Administration444 plays

Flashcards23 cardsFPractice quizPHost liveL

Questions 23

Answers

1
What can a budget do?
Plans for expected costs and unexpected cost.
develop money management skills and responsibility
All of the above
Cut spending, spend wisely And Save for a car vacation etc.
2
Credit card companies charge stores a percentage purchased with a credit card.
False
True
3
What are some disadvantages to using cash as a method of payment?
Nothing, cash is perfect.
Hard to handle, not enough in the world, easy to lose
online purchases impossible, little proof of purchase
It's green, gives paper cuts, smells bad
4
Read question in picture
I only
II and III
I and II
II only
5
What is an advantage of using a check to pay a bill?
It takes longer to write a check than swipe a card.
Some businesses no longer accept checks.
He does not have to pay interest.
He does not have to enter the expense in his check register.
6
Elorm makes $289 a week. His total payroll deductions are $42. How can he find his net income?
Subtract his gross income from his net income.
Subtract his net income from his gross income.
Add his gross income and his deductions.
Subtract his deductions from his gross income.
7
Most credit cards have a credit limit.
False
True
8
Gabriel buys groceries with his credit card. What is a disadvantage of using his credit card?
He borrows $ to get groceries if he does not have the money.
He must pay it back with interest.
He may earn cash back on his purchase.
There is no way for his identity to be stolen.
9
Credit cards are accepted as cash by stores.
False
True
10
What are some advatages to a credit card?
easy to carry, easy to use, PIN protected,
easy to carry, offer rewards, can improve credit score
Not mentioned
saves time, ability to buy online
11
Borrowing money by using money that is loaned to you and is paid back with ________
A herd of elephants
Interest
Change
A bank deposit
12
If I pay my credit card in full by the due date, I will not owe any interest.
True
False
13
Which is a true statement?
Gross is the total amount, net is after deductions
Gross income is disgusting.
Net income is the total amount earned.
Payroll taxes - gross income = net income.
14
Read question in picture
withdrawal fee
overdraft
debit card fee
monthly service fee
15
Elijah's monthly paycheck is $1781.03. What do we call this amount?
deductions
gross income
net income
payroll tax
16
There’s no penalty if I pay my balance after the due date.
True
False
17
Which of the following are the benefits of a debit card?
It eliminates the need to carry a lot of cash.
All of the above.
It is convenient.
Can be used instead of checks.
18
Obtaining money from an ATM machine is similar to ________.
withdrawing money from your bank account.
adding interest to your bank account.
loaning money to another person.
make a deposit.
19
Pay bills on time. Pay yourself first. Avoid overdraft fees. These are tips for what?
Methods of payment.
Collage savings plans.
Responsible financial behavior.
Wht a badger can do.
20
If I pay the minimum monthly payment, then I won’t owe any interest.
False
True
21
My credit report contains information on bills I have not paid.
True
False
22
Which of the following would be considered a fee for a checking account?
debit card fee
all of the above
monthly service fee
overdraft fee for checks
23
What is an advantage of using cash to pay for stuff?
You have to carry it around everywhere.
No way to have identity stolen.
You have to pay interest.
It could be stolen from your wallet.