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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Financial Literacy
Flashcards
29 cards
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Questions
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Answers
1
Which of the following should appear on your credit report?
Your social security number
Your personal identification number
How many people in your family
How many cars you own
2
Do you have to repay grants?
maybe
no
what's a grant?
yes
3
What does PIN stand for in banking transactions?
Program Item Number
Product Identification Number
Personal Identity Number
Personal Identification Number
4
If you lose your job, will that have a positive or negative affect on your credit score
Your employment does not impact your credit score.
negative
It's a little of both.
positive
5
Would one late credit card payment two years ago make it more or less likely to get a car loan?
more likely
Who needs a loan for a new car?
less likely
why would something that happened that long ago matter?
6
Bob is planning a party. Based on the check register below, what is his balance?
416.51
53.66
95.60
178.66
7
How long do late credit card payments stay on your credit history?
4 years
7 months
3 years
7 years
8
An institutation that holds money for you is called a
mattress
bank
mom
pocket
9
Read below and solve.
150 weeks
1300 weeks
1500 weeks
130 weeks
10
Which scenario best describes using an ATM?
Buying a souvenir at Six Flags and paying for it next month.
Buying Six Flags tickets online
Buying Six Flags fast passes and paying with a check.
Getting cash to pay for lunch at Six Flags.
11
Which is true for a debit card?
You will get a debit card bill at the end of the month.
The money will come directly out of your checking account.
You will receive a monthly bill.
You must pay interest on any unpaid balance.
12
If you make a bank withdrawal it means
you are putting money into your account
you are leaving the bank
you are closing your bank account
you are moving money out of your banking account.
13
The ATM fee is $1.50 . How many times did you use the ATM if your charges were $7.50?
4
6
5
7
14
Which of the following is not a bank transaction?
paying with cash
writing a check
making a deposit
using an ATM
15
Bob's salary is 68,848. He works 40 hrs a week, 52 weeks a year. What does he make per hour?
$1324 per month
$17.21 per hour
$33.10 per hour
$13.24 per hour
16
Which of the following is a feature of a credit card?
You must pay interest on any unpaid balance.
You must use a PIN number for all purchases.
Money is taken directly from your banking account.
You can buy now and pay never.
17
To make a positive impact on your credit score, you should do all of the following, except
keep a high debt-to-income ratio
Answer questions truthfully.
have a low debt-to-income ratio
Pay your credit card bills on time.
18
All of the following can lower your credit score, except.
high credit card balances
a good credit history
Late payments
owing a lot of money
19
Moving money from your checking account into savings. How do you show that in your register?
It's still in your account
You add it
It's a deposit
It's a withdrawal
20
Bob's tuituon is $25,606. He got a scholarship for $1,500 and a grant for $17,000.
$7116
$710
$7106
$7006
21
Grants are usually given based on...
ethnicity
athletic skills
academics
financial need
22
How much more will an accountant make over a tax preparer over a twenty year period?
$66,484
$332,420
$664,840
$33,242
23
What class are you in right now?
Social Studies
Science
Math
Language Arts
24
Which of the following is not a debit card transaction?
Using your debit card to get cash.
Using a debit card to purchase concert tickets.
Using a debit card to purchase groceries.
Paying interest on any unpaid balance.
25
What is a salary?
debt you owe
a check you write
money paid to an employee each year
money owed to you
26
What is a check register?
how you register for a checking account
a registration fee you pay to join a bank
used to record financial transactions in a banking account
a machine that tells you what you owe a cashier
27
When choosing a career you want to consider
educational requirements
your interests
all of these are important
physical abilities
28
All of the following are following are methods to pay for college, except
Class audits
Loans
Grants
Scholarship
29
Which information is important when trying to choose a bank?
monthly banking fees
Fees for a non-bank ATM
cost of checks
All of these need to be considered
