Finite-time stability and finite-time boundedness for a class of switched linear systems with time-varying delay are studied. Sufficient conditions which guarantee switched linear systems with time-varying delay finite-time stable or finite-time bounded are presented. These conditions are delay-dependent and are given in terms of linear matrix inequalities. Average dwell time of switching signals is also given such that switched linear systems are finite-time stable or finite-time bounded. Moreover, finite-time weighted L2-gain of switched linear systems with time-varying delay are also given to measure its disturbance tolerance capability in the fixed time interval. Detail proofs are accomplished by using multiple Lyapunov-like functions. An example is employed to verify the efficiency of the proposed method.