Financial Literacy

Money

100

Money is divisible. 

divisible means __________

can be divided

200

Money is uniform.

Uniform means ________

the same

(it represents the same value for everyone)

300

Money is portable. 

Portable means __________

easily carried or

able to be carried

400

Money is durable. 

durable means __________

lasts a long time

500

Money is 

1. uniform

2. d _ _ _ _ _ ble

3. p _ _ _ able

4. d _ _ able

Money is 

1. Uniform

2. divisible

3. portable

4. durable

Checking and Savings

100

This bank account pays you interest!

A savings account

200

This bank account is used to pay everyday bills and make purchases

A checking account

300

Banks serve customers

______ Unions serve members

Credit Unions serve members

400

True or False?

To open a bank account, students under 18  need a ______ to co-sign.

parent or guardian

500

Opening a checking or savings account now, will help you establish your ____ history. 

Credit history. 

Interest

100

Interest is an _______ charge you pay.

extra

200

The original amount you borrow is called the p_ _ _ _ _ _ _ _.

principal

300

AYP means "_________ yearly _________"

Annual yearly percentage

400

Interest rates for cars are _______ than interest rates for credit cards.

__ lower

__ higher

lower

500

Car loans are simple interest but 

Credit cards are c_________ interest.

compound 

loans

100

The lower  your credit score the ______ the interest rate you will pay. 

__ lower

__ higher

higher

200

Loan TERM means 

the TIME or length of loan

for example: 72 months or 30 years

300

New car interest rates are lower than used car interest rates because their is ____ risk for the bank.

_ more

_ less

less

400

Interest rates for used car loans are higher than new car loan because the bank has ___ risk when they lend money.

_ more

_ less

more

500

AYP means a______ y_______ p________

annual yearly percentage

Credit Cards

100

True or False?

You must have a credit card to book a fligh reservation or hotel. 

True

Even if you pay cash, you still must have a credit card

200

Three things you can do with a credit card are:

1. make purchases

2. transfer balances

3. c_________ a__________

cash advances

300

True or False?

Credit cards from Kohls, Target, Home Depot or Best Buy are major credit cards

False

400

Name the four major credit cards

Visa, MasterCard, AMEX, Discover

500

When you are offered a credit card, you should ask to see the ____ & ____ so you can decide if the card is right for you. 

rates and fees