borrowed amounts that will have to be repaid

Before you buy something using a check, what should you know about your account?

If you have money in your account

Jobs usually pay a higher salary when...

More education or skills are required

Interest rates on credit cards

Vary depending on credit score and age and income

A check register is a

written record of all transactions

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Duplicate of Financial Literacy

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Financial Literacy questions for review.

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Questions 14

Answers

1
Which of the following could you use to buy something now and pay for it later?
Debit Card
Credit Card
Cash
Check
2
A plan for managing income, spending and saving is called...
Budget
Account balance
Investment
Credit Account
3
The payment people receive for the work they do is called...
Profit
Interest
Wages
Savings
4
What is the best action to show your financial responsibility?
Get more credit cards
Increase expenses
Reduce expenses
Pay more taxes
5
When a bank charges someone to save money it is called
Opportunity Cost
Service
Interest
Trade-off
6
A student loan is
borrowed amounts that will have to be repaid
money saved
money awarded to you based on merit
a grant
7
Adding money into your account is called
An Interest Rate
An expense
A deposit
A withdrawal
8
Before you buy something using a check, what should you know about your account?
If you have tax on your account.
The interest rate of your account
If you have money in your account
The PIN for your account
9
Jobs usually pay a higher salary when...
More education or skills are required
People must be interviewed
They have a job title
An ad has been placed online.
10
Interest rates on credit cards
Depend on age and income
Are the same regardless of age or income
Are the same for everyone
Vary depending on credit score and age and income
11
A check register is a
the movement or exchange of money
movement of money between accounts
credit card
written record of all transactions
12
Taking money out of your bank account is called...
Payment
Deposit
Withdrawal
Interest
13
Sam earned $3000. He spent $2000. He put $1000 in the bank. This amount is called?
Credit
Profit
Saving
Budget
14
What is NOT included in a credit report
how many Coach purses you own
history of repaying their debt
Whether payments are made on time
how much debt a person has

Duplicate of Financial Literacy Flashcards | StudBud