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- 1. Multiple Choice
Which of the following is an advantage of using a credit card?
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.
- 2. Multiple ChoiceIf Sammy’s expenses are greater than his income, what must he do to balance his budget?Earn more moneySpend less money on expensesEarn more money AND spend lessNone of the above
- 3. Multiple ChoiceWhich of the following is considered an advantage to using a debit card to make purchases?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.
- 4. Multiple Choice
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.
Check
Credit card
Debit card
- 5. Multiple Choice
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.
Check
Credit card
Debit card
- 6. Multiple Choice
What is a plan for how you spend your money?
income
sales tax
budget
deposits
- 7. Multiple Choice
What are useful or valuable things, like property, a car, a home, or money?
budget
income
net worth
assets
- 8. Multiple Choice
What is money you earn?
income
budget
assets
net worth
- 9. Multiple Choice
What is assets minus liabilities?
income
budget
net worth
annual income
- 10. Multiple Choice
Why is maintaining good credit important?
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
- 11. Multiple Choice
What is a loan?
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
- 12. Multiple Choice
FDIC insures you how much money per account?
250,000.00
300,000.00
400,000.00
25,000.00
- 13. Multiple Choice
Investment
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.
- 14. Multiple Choice
NSCU
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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