(6.14B) Julio paid $35.92 for gasoline with his debit card. Which of the following is an accurate description of Julio's transaction?

Julio's linked account will immediately have #35.92 removed.

Julio's payment will affect his credit rating.

Julio might be charged interest for his purchase.

Julio will make payment for his purchase when he receives his monthly statement.

(6.14D) Why is it important to establish positive credit history?

Higher credit scores result in lower interest rates on loans.

Positive credit history results in higher credit scores.

You are more likely to be offered a loan by a bank.

(6.14F) Which of the following accurately describes one benefit gained by financial institutions from a credit report?

Provides a detailed report of a borrower's financial history.

Determines the grade of the lending institution.

Increases the likelihood the lender can borrow money.

Comparatively ranks lending institutions.

(6.14G) Which list contains methods to pay for college that do not require students to make payments back to lenders?

savings, scholarships, and grants

scholarships, student loans, and savings

grants, scholarships, and student loans

Which of the following can be damaging to a person's credit history?

Having 15 accounts open with high balances

Making minimum monthly payments on due date

Having one hard inquiry on a credit report

Having multiple addresses listed in personal information

Wendy wants to improve her credit score. Which of the following actions will help Wendy improve her score?

Make all monthly payments on or before due date.

Pay the minimum amount due on credit cards and loans.

Close any accounts that have a zero balance.

Take out additional loans to pay off current debt.

What is one advantage of using a credit card over a debit card?

Using a credit card responsibly can build positive credit history.

Using a credit card never has an advantage over using a debit card.

Colleges may look at a person's credit history before accepting them into school.

Apartment managers or landlords may look at a person's credit history before renting.

One of the main features of a debit card is

The money comes directly from your checking account

You have to pay interest on purchases

You get to make payments over time

All of the following can appear on your credit report, EXCEPT

Money you borrowed from your aunt

The number of credit accounts you have open

____________________ will negatively affect your credit score.

Forgetting your sisters birthday

Forgetting to pay mom back for the lmoney you borrowed.

Mr. Irons is planning to take out a loan to buy a car. At the car dealership he must sign a statement giving permission to check his credit report. Which statement best describes why the car dealership wants to check his credit?

To determine the likelihood of Mr. Irons paying back the loan on the car.

To determine if Mr. Irons is a safe driver

To decide how much money Mr. Irons earns

To determine if Mr. Irons can afford the car

Financial Literacy

Authored by TISHA GRAY

Mathematics

6th Grade

CCSS covered

Used 16+ times

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40 questions

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MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which statement is best supported by the information in the table?

Tags

CCSS.8.F.A.2

CCSS.HSF.IF.C.9

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which statement is true for a credit card but NOT true for a debit card?

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which of these is NOT an option for Mr. Lloyd?

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which statement best describes purchases made with a debit card?

FILL IN THE BLANK QUESTION

5 mins • 1 pt

What was the balance of Taquan's checking account in dollars and cents after the transaction on March 29?

Tags

CCSS.6.NS.B.3

FILL IN THE BLANK QUESTION

5 mins • 1 pt

What was the balance of Raul's checking account after the transaction on April 13 in dollars and cents?

Tags

CCSS.7.NS.A.3

FILL IN THE BLANK QUESTION

5 mins • 1 pt

What is the balance in dollars and cents in Nina's checking account at the end of the day on April 23?

Tags

CCSS.6.NS.B.3

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Financial Literacy

Which statement is best supported by the information in the table?

Which statement is true for a credit card but NOT true for a debit card?

Which of these is NOT an option for Mr. Lloyd?

Which statement best describes purchases made with a debit card?

What was the balance of Taquan's checking account in dollars and cents after the transaction on March 29?

What was the balance of Raul's checking account after the transaction on April 13 in dollars and cents?

What is the balance in dollars and cents in Nina's checking account at the end of the day on April 23?

Which of these is the most likely number of years that negative information will remain on a credit report?

Which of these describes information that can appear in a consumer's credit report?

Which statement best describes the importance of Ms. Versini's credit report to the bank?

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