Module 3 Quiz Review

Maya is considering a job as a nurse at Hunterdon Medical Center. What kind of payment can she expect to receive?

• Wage

• Stipend

• Salary

• Commission

Ava, Abigail, and Evelyn are discussing the benefits of using cash instead of a credit card while shopping. What are some reasons they might prefer cash?

• Getting more cash from the ATM is easy to do.

• It's easy to keep track of their spending.

• It does not matter if they lose their cash.

• Sometimes the store doesn't accept their credit cards.

Ava wants to improve her credit score. Which factor will have the BIGGEST impact on her credit score?

• Paying her bills on time and in full

• Using a credit card for a longer period

• Having multiple credit cards

• Visiting ULTA frequently in a month

David recently got a credit card and is curious about the term 'interest'. What does interest mean in the context of credit cards?

• How likely David is to apply for the credit card?

• The percentage the bank charges David as a penalty for not paying his bill on time and in full.

• The percentage David's credit score will increase by next month.

• The percentage David's credit score will decrease by next month.

Arjun recently started a new job and wants to know how much money he makes each month from his job/career. This is referred to as:

Abigail needs to borrow some money to cover an unexpected expense. She decides to take out a (a)   based on her paycheck amount. She must repay the loan by next month to avoid high interest rates.

• payday loan

• mortgage loan

• student loan

• salary loan

Aria recently got a job as a lifeguard at her community pool. She earns $20 per hour for her work. This type of payment is called a (a)   .

• wage

• salary

• stipend

• bonus

When Luna uses her credit card to buy a new dress, the money is...

• a loan from the bank that she will pay back next month.

• taken from her checking account.

Abigail is at a store and wants to use her debit card to make a purchase. When she uses her debit card...

• the bank is giving her a loan that she will pay back next month.

• the money is coming from her checking account immediately.

Benjamin has been only paying the minimum payment on his credit cards for a while. Abigail is curious to know what happens to Benjamin's credit score over time. Can you help her understand?

• It increases.

• It decreases.

• It stays the same.