Financial Literacy 1

Definition 1

100

A record of your personal financial transactions

A. online bank

B. credit report

C. bank

D. savings

B. Credit Report

200

A system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mob

A. online bank

B. credit report

C. bank

D. savings

A. online bank

300

What does PIN stand for?

Personal Identification Number

400

Issued by a bank or financial services company that allows customers to borrow funds with which to pay for goods and services with merchants that accept cards for payment.

Credit Card

500

Money Owed

A. loan

B.grant

C. debt

D. debit card

C. debt

Definition 2

100

Definition: Income

Money received, especially on a regular basis, for work or through investments.

200

An individual’s total earning throughout a given period before any deductions are made

a. gross pay

b. grant

c. income

d. net pay

a. gross pay

300

What is a credit report?

A record of your personal financial transactions

400

A fixed amount of money is borrowed from a financial institution for a specified period. The borrower repays it in regular installments over the agreed upon term, which may include both principal and interest. 

A. Loan     B. Grant   C. Online bank  D. Gross Pay

A. Loan

500

Money received, especially on a regular basis, for work or through investments.

A. Budget

B. Grant

 C. Income

D. PIN

C. Income

Definition 3

100

Gas, food and entertainment are examples of this

A. Debt

B. Bank

C. Budget

D. Variable Expense

D. Variable Expense

200

Defintion: Debt

Money owed

300

Issued by a bank or financial services company that allows customers to borrow funds with which to pay for goods and services with merchants that accept cards for payment

A. Credit Card      C.Grant

B. Gross Pay       D. Loan

A. Credit Card

400

A payment card that deducts money directly from a consumer's checking account when it is used.

A. CREDIT CARD

B. DEBIT CARD

C. BUDGET CARD

D. LOAN CARD

Debit Card

500

An amount of money that the government or other institution gives to an individual usually based on financial need (and does not have to be paid back).

A.  Loan        C. Variable Expense

B. Grant        D. Budget

B. Grant

Defintion 4

100

What is gross pay?

An individual’s total earning throughout a given period before any deductions are made

200

Personal Identification Number

A. ATM

B. PIN

C. Pay yourself first

D. Income

B. PIN

300

What does SAVINGS mean?

Setting aside a portion of current income for future use.

400

Setting aside a portion of current income for future use.

A.Gross Pay

B. Savings

C. Credit Card

D. Income

B. Savings

500

A specialized computer that allows you to complete bank transactions

A. Credit Report

B. PIN

C. ATM

D.Online Bank

C. ATM

Defintion 5

100

An institution that deals in money and its substitutes and provides other money-related services.

A. Budget

B. Credit Card

C. Loan

D. Bank

D. Bank

200

What is the definiton of budget?

An estimation of income and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis.

300

Setting aside money for savings prior to paying monthly expenses.

A. Pay yourself first

B. Savings

C. Budget

D. Online Bank

A. Pay yourself first

400

A payment card that deducts money directly from a consumer's checking account when it is used.

A. CREDIT CARD

B. DEBIT CARD

C.LOAN CARD

D. BUDGET CARD

B. DEBIT CARD

500

Someone uses your name, Social Security number, or other personal information without your permission.

A. Varaible Expense

B. Budget

C. Pay yourseld first

D. Identity Theft

D. Identity Theft