1which of the following situations describes the use
of an atm?
a abby purchased an item and paid for it when
the bill came in the mail.
b abby wrote out an amount for an item and gave
it to a cashier.
c abby entered a pin to begin a transaction and
received an amount of cash.
d abby balanced her checkbook.

2 which of the following would have a negative
effect on your credit score?
a getting a promotion at work
b making late payments on a car loan
c paying credit card balances in full
d having a low debt-to-income ratio
3 which of the following can have a positive effect
on your credit score?
a owing more money than you earn
b losing your job
c paying your bills on time
d having a high debt-to-income ratio

4 the annual median income for a veterinarian
is $82,040. the annual median income for a
veterinarian assistant is $22,040. over 10 years,
how much more than a veterinarian assistant can a
veterinarian earn?
a $20,000
b $60,000
c $500,000
d $600,000

5 eddie has an annual salary of $47,300. he works
40 hours a week, 52 weeks a year. how much
money does eddie earn per hour?
a $22.74
b $27.15
c $31.46
d $48.91

6 which statement would have a positive effect on a
credit score?
a “i made six late car payments last year”
b “i borrowed more than i can repay.”
c “i make all of my student loan payments on
time.”
d all of the above

7 the table shows the monthly fees for the checking
accounts at two banks.
which statement is best supported by the information
in the table?
a the fee at bank fargo will always be more than
the fee at bank citizens.
b the fee at bank fargo will always be less than
the fee at bank citizens.
c the fee at bank fargo will be more than the
fee at bank citizens only when the checking
account balance is less than $200.
d the fee at bank fargo will be more than the
fee at bank citizens only when a customer’s
balance is more than $200.
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2017 personal financial literacy test ma: 6

8 devin’s bank charges $1.75 for nonbank atm
withdrawals and $0.30 for each debit card transaction.
last month, devin paid $8.25 in atm
and debit card fees. he made 3 nonbank atm
withdrawals. how many times did devin use his
debit card last month?
a 2
b 5
c 7
d 10

9 which statement about a credit report is true?
a my credit report cannot affect my future ability
to obtain a loan.
b a credit report is always correct and doesn’t
contain any errors.
c negative actions on a credit report generally
remain for 7-10 years.
d college grades are used in credit reports.

10 which method of paying for college needs to be
paid back?
a grants
b loans
c scholarships
d work-study programs