Financial Literacy

When you write a check from your checking account this is a:       

• Credit added to your balance.   
• Debit subtracted from your balance
• Credit subtracted from your balance.
• Debit added to your balance.

A checking account is: 

• An account where money can easily be deposited and withdrawn by means of checks, debit cards and ATM transactions. 
• An interest bearing account where your deposit remains for a set period of time.
•  A computer program that checks your email account.
• Ownership in a company.

Reasons for making a budget include:

• To keep track of your income and expenses.
• To achieve your long term goals. 
• To have a spending plan.
• All of the above choices are correct. 

The lowest amount of money shown on your credit card bill that must be paid every month is called the: 

• late fee
• minimum payment
• credit limit
• previous balance

How can a cardholder avoid paying interest on a credit card?

• . Do not pay anything.   
• Pay the minimum balance every month.   
• Pay the minimum payment after the due date
•  Pay the balance in full every month.

A detailed report of your credit history prepared by a credit bureau and used by a lender to determine creditworthiness is called a:

• Credit Report
• Credit Card
• Certificate of Creditworthiness
• Report Card

What are rooms located on a college campus called?

• Home
• Dorm
• Apartment
• Loft

Which situation shows a financially responsible citizen?

•  Purchasing an expensive automobile you CANNOT afford.
• Only buying items that you CAN afford
• Throwing money out the window.
• Hiding your money under your mattress. 

Tags

CCSS.HSA.CED.A.3

Besides tuition, most colleges also charge their students for:

• Room and Board
• Extra Fees
• Textbooks
• All of the Above

Which of the following is one of the main costs of college?

• Tuition
• Food
• Transportation
• Fitness Center