1
A financial institution that accepts deposits from the public.
a. federal reserve
b. electoral college
c. bank
c. Bank
A government issued ID number given to you at birth
a. Cell Phone Number
b. Routing Number
c. Social Security Number
c. Social Security Number
Something that you spend money on, either one time or regularly.
a. budget
b. savings
c. expense
c. expense
What is an annual salary?
a. the amount of money you are paid within a week
b. the amount of money you are paid within a month
c. the amount of money you are paid within a year
c. the amount of money you are paid within a year
A percentage of the amount you borrowed, increasing the total amount you have to pay back in the end.
a. tax rate
b. interest rate
c. credit score
b. interest rate
Money that is borrowed that is expected to be paid back with interest.
a. loans
b. scholarships
c. grants
a. loans
The price you are charged to borrow money
a. interest
b. principle
c. deductible
a. interest
A portion of money paid to the government out of your paycheck to help pay for things like schools, hospitals, roads, and other services that benefit the country.
a. property tax
b. income tax
c. sales tax
b. income tax
This is an alternative option to college, where students can go to learn skills for a specific job.
a. community college
b. trade school
c. electoral college
b. trade school
Studies show that people who go to ________ tend to make more money over the course of their lifetime.
a. college
b. trade school
c. high school
a. college
A bank card used to make purchases where the money comes from your checking account.
a. credit card
b. debit card
c. savings account
b. debit card?
A specific type of loan that is used to buy real estate (a home or other property).
a. auto loan
b. mortgage
c. credit card
b. Mortgage
A _____ is a percentage-based amount paid on non-essential items at the point of sale
a. property tax
b. income tax
c. sales tax
c. sales tax
The score given by a credit agency regarding your ability to pay off a debt.
a. debt to income ratio
b. financial score
c. credit score
c. credit score
A fixed amount someone earns in a year for their job--regardless of the number of hours worked.
a. annual salary
b. biweekly paycheck
c. hourly rate
a. annual salary
A card used to make purchases with the agreement that the cardholder will pay the money back including any fees and interest
a. credit card
b. debit card
c. both credit & debit card
a. credit card?
Money owed from one person to another person or company
a. debt
b. interest
c. insurance
a. debt
This is money that the federal government may provide you to pay for school. You do not need to pay this back.
a. student loan
b. grant
c. private scholarship
b. grant
The money you earn from your job after the taxes are deducted
a. gross income
b. net income
c. final income
b. net income
A plan for earning and spending over a period of time.
a. financial aid
b. loan service
c. budget
c. budget
The initial amount of money borrowed on a loan.
a. the loan
b. the interest
c. the principle
a. the principle
The maximum amount you can spend on a credit card.
a. maximum income
b. credit limit
c. annual salary
b. credit limit
A process that allows your employer to send your paycheck to your bank account rather than print a physical check
a. direct deposit
b. electronic deposit
c. money transfer
a. direct deposit
The money you earn at your job before taxes are deducted.
a. gross income
b. net income
c. final income
a. gross income
The governing body that is responsible for collecting US federal taxes
a. Central Intelligence Agency (CIA)
b. Federal Deposit Insurance Corporation (FDIC)
c. Internal Revenue Service (IRS)
c. Internal Revenue Service (IRS)