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Financial Literacy

Quiz by Sara Tom

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30 questions
Show answers
  • Q1
    What is a budget?
    A plan for how to spend and save money
    A type of bank account
    A kind of investment
    A loan from the bank
    30s
  • Q2
    What does it mean to save money?
    To spend all your money right away
    To give money to friends
    To set aside money for future use
    To lose money on purpose
    30s
  • Q3
    What is an interest rate?
    A tax on your paycheck
    A fee for using a credit card
    The cost of food at a restaurant
    The amount a bank pays you for saving money or charges you for borrowing money
    30s
  • Q4
    What is a savings account?
    A place to keep your clothes
    A bank account where you can store money and earn interest
    An account to pay credit card bills
    A type of investment for businesses
    30s
  • Q5
    What is a credit card?
    A card used for playing games
    A type of identification card
    A plastic card that allows you to borrow money to make purchases
    A card that gives you free food
    30s
  • Q6
    What is a paycheck?
    A receipt for a purchase
    A document that an employer gives you to pay for your work
    A type of bank deposit
    A bill you have to pay
    30s
  • Q7
    What is an expense?
    Money that you earn
    Money that is borrowed
    Money that you spend
    Money that is saved
    30s
  • Q8
    What does it mean to invest?
    To donate money to charity
    To use money to purchase something with the hope of making a profit
    To spend money quickly
    To keep all your money in cash
    30s
  • Q9
    What is a bank?
    A type of online game
    A place where people deposit and withdraw money
    A store that sells food
    A building for entertainment
    30s
  • Q10
    What is a loan?
    A government tax
    A type of bank account
    Money that you borrow and must pay back with interest
    A gift from a friend
    30s
  • Q11
    What do we call money that is saved for future use?
    Savings
    Income
    Expenses
    Investments
    30s
  • Q12
    What is a budget?
    A way to earn money
    A plan for how to spend money
    A form of credit
    A type of bank account
    30s
  • Q13
    What is interest?
    A type of savings account
    The cost of groceries
    The money paid for borrowing money
    The amount of money you earn from your job
    30s
  • Q14
    What is a good reason to save money?
    To spend it all at once
    To give it away to friends
    To buy candy every day
    To prepare for emergencies
    30s
  • Q15
    What does it mean to invest money?
    To use money to make more money
    To save money in a piggy bank
    To spend money on unnecessary things
    To borrow money from a friend
    30s

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