Financial Literacy
7 months ago
april_53150
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14 QuestionsShow answers
  • Question 1
    120 seconds
    Q.

    Which of the following is an advantage of using a credit card?

    answer choices

    Interest is charged for the use of a credit card.

    Consumers can purchase things now, and pay for them later in the event of an emergency.

    You could be a victim of identity theft.

  • Question 2
    300 seconds
    Q. If Sammy’s expenses are greater than his income, what must he do to balance his budget?
    answer choices
    Earn more money
    Spend less money on expenses
    Earn more money AND spend less
    None of the above
  • Question 3
    300 seconds
    Q. Which of the following is considered an advantage to using a debit card to make purchases?
    answer choices
    Debit cards are convenient and easy to carry around.
    Purchases can be made quickly and easily.
    You can use many ATMs to get cash.
    All of the above.
  • Question 4
    30 seconds
    Q.

    An identification card issued by

    a bank that allows a user to buy

    items and services immediately

    and pay the cost at a later time.

    answer choices

    Check

    Credit card

    Debit card

  • Question 5
    30 seconds
    Q.

    An identification card issued by

    a bank that allows a user to

    immediately use money from an

    account. You have a personal

    identification number (PIN) to

    keep it safe.

    answer choices

    Check

    Credit card

    Debit card

  • Question 6
    30 seconds
    Q.

    What is a plan for how you spend your money?

    answer choices

    income

    sales tax

    budget

    deposits

  • Question 7
    30 seconds
    Q.

    What are useful or valuable things, like property, a car, a home, or money?

    answer choices

    budget

    income

    net worth

    assets

  • Question 8
    30 seconds
    Q.

    What is money you earn?

    answer choices

    income

    budget

    assets

    net worth

  • Question 9
    30 seconds
    Q.

    What is assets minus liabilities?

    answer choices

    income

    budget

    net worth

    annual income

  • Question 10
    30 seconds
    Q.

    Why is maintaining good credit important?

    answer choices

    Can help you graduate from college

    Allows you to carry more cash than usual

    Allows you to buy expensive items and pay over time

    Might cause your interest rates to be raised

  • Question 11
    30 seconds
    Q.

    What is a loan?

    answer choices

    A fee for maintaining or servicing your loan account

    Money you borrow but must also repay

    Something valuable that you own and can sell for cash

    The cost of borrowing money

  • Question 12
    30 seconds
    Q.

    FDIC insures you how much money per account?

    answer choices

    250,000.00

    300,000.00

    400,000.00

    25,000.00

  • Question 13
    30 seconds
    Q.

    Investment

    answer choices

    Written order instructing your bank to pay money from your account to another party.

    Something acquired with the goal of making money.

    A promissory note to repay a certain amount of money from your account to another party.

  • Question 14
    30 seconds
    Q.

    NSCU

    answer choices

    Insures deposits in credit unions up to $100,000.00.

    Insures deposits in credit unions up to $400,000.00.

    Insures deposits in credit unions up to $200,000.00.

    Insures deposits in credit unions up to $600,000.00.

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