6th Grade Financial Literacy Vocabulary

(6.14E) How long will a negative credit action usually remain on a credit report?

• 4 years
• 7 years
• 10 years
• 15 years

Tags

CCSS.6.NS.C.7C

There are various methods in which to pay for your purchases. Paul used a type of card to pay for his purchase that withdraws money immediately from his checking account. What is this type of payment card called?

• credit card
• debit card
• 401 card
• savings plus card

Sally goes to the bank. She puts her babysitting money in her account. Sally has made a

• Deposit

• Withdrawal

Tags

CCSS.7.NS.A.1D

You can be charged a late fee if the payment is not made within the due date.

• Credit card
• Debit card
• both

Tags

CCSS.7.RP.A.3

In New City, Texas, the sales tax rate is 8.15%. How is this represented as a decimal?

• 8.15
• 0.815
• 0.0815
• 0.00815

Tags

CCSS.7.RP.A.3

Which person is most likely to be offered a loan, if the decision was solely based on their credit scores?

• M. Spiller
• B. Murphy
• S. Thorne
• W. Myers

Tags

CCSS.4.NBT.A.2

If Sammy’s expenses are greater than his income, what must he do to balance his budget?

• Earn more money
• Spend less money on expenses
• Earn more money AND spend less
• None of the above

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

What is a plan for how you spend your money?

• income

• sales tax

• budget

• deposits

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

• budget

• income

• net worth

• assets

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

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4