Personal Financial Literacy
Flashcard
•
Mathematics
•
6th - 7th Grade
•
Practice Problem
•
Hard
+3
Standards-aligned
Wayground Content
FREE Resource
Student preview
15 questions
Show all answers
1.
FLASHCARD QUESTION
Front
What is the most important factor that lenders look at when reviewing loan applications?
Back
Payment history
2.
FLASHCARD QUESTION
Front
How long is most credit report information retained?
Back
Most credit report information is retained for 7 years.
3.
FLASHCARD QUESTION
Front
What is a scholarship?
Back
A scholarship is financial aid awarded to students based on various criteria, which can include academic merit, financial need, or other factors.
Tags
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4.
FLASHCARD QUESTION
Front
What does it mean to use a debit card for a purchase?
Back
Using a debit card for a purchase is called a withdrawal, as it directly deducts money from your bank account.
5.
FLASHCARD QUESTION
Front
What are some common types of financial aid for college?
Back
Common types of financial aid include scholarships, grants, work-study programs, and student loans.
6.
FLASHCARD QUESTION
Front
What is the difference between a debit card and a credit card?
Back
A debit card withdraws money directly from your bank account, while a credit card allows you to borrow money up to a certain limit to make purchases.
7.
FLASHCARD QUESTION
Front
What is a credit report?
Back
A credit report is a detailed account of an individual's credit history, including their borrowing and repayment activities.
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