When money is transferred from a savings account to a checking account, it should appear as a _

Debit in Savings and Credit in Checking

U.T.D. has a $12,000 yearly tuition . You earned a $1500 scholarship per semester.

You would pay an annual tuition of $9,000.

Mr. Money has a Bachelor's degree and earns $100k a year. If he earns a Master's degree, ____

His salary could increase by 30%, which would be $130,000

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Financial Literacy Test Review

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Questions 10

Answers

1
When money is transferred from a savings account to a checking account, it should appear as a _
Debit in Savings and Credit in Checking
Credit in Savings and Debit in Checking
Debit in both accounts
Credit in both accounts
2
U.T.D. has a $12,000 yearly tuition . You earned a $1500 scholarship per semester.
You would pay an annual tuition of $9,000.
You would pay an annual tuition of $10,500.
You would pay an annual tuition of $12,000.
You would pay an annual tuition of $3,000.
3
The best method to obtain the lowest interest rate for a car loan would be to ________
Politely explain why you paid your bills late.
Be a safe driver.
Earn a Master's degree.
Maintain a good credit score.
4
Which of the following financial assistance for tuition requires repayment?
Grant
Student Loan
Scholarship
Both Scholarship and Grant
5
What would be included in a credit report?
Missed payments on a loan.
Applicant's credit score.
Number of credit cards being used.
All of the above.
6
What is the balance on January 21st?
$1145.60
$1433.60
$1095.60
$1266.60
7
Mr. Money has a Bachelor's degree and earns $100k a year. If he earns a Master's degree, ____
It would not affect his salary in any way.
His salary could increase by 30%, which would be $130,000
His salary stops for 2 yrs because he's returning to school.
His salary would be 30% of what it is now, which is $30,000.
8
TRUE or FALSE. Funds are taken directly from your account when using a credit card.
TRUE
FALSE
TRUE
FALSE
9
About how long does negative information remain on your credit report?
Until you are 18 years old.
5 - 6 months
7 - 10 months
7 - 10 years
10
Which level of education would provide you with the greatest earning potential?
Associate's degree
Undergraduate degree
Master's degree
General Education Diploma (G.E.D.)

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