U4: Managing your Money- Banking and budgeting Quiz
Quiz by Jessica Fitzgerald
Feel free to use or edit a copy
includes Teacher and Student dashboards
Measure skillsfrom any curriculum
Measure skills
from any curriculum
Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
With a free account, teachers can
- edit the questions
- save a copy for later
- start a class game
- automatically assign follow-up activities based on students’ scores
- assign as homework
- share a link with colleagues
- print as a bubble sheet
25 questions
Show answers
- Q1What is a common method used to track income and expenses over a specific period of time?InvestingBorrowingSavingBudgeting30s
- Q2What is a type of account that earns interest on the money you deposit and usually has restrictions on withdrawals?Credit cardSavings accountChecking accountDebit card30s
- Q3What is the term for money borrowed from a financial institution that must be paid back with interest?InvestmentCreditSavingsLoan30s
- Q4Which of the following is a potential consequence of overdrawing your checking account?Overdraft feeCredit score increaseInterest rateDeposit bonus30s
- Q5What is a financial institution that offers a variety of services including checking accounts, savings accounts, loans, and investment options called?Post officeBankRestaurantGrocery store30s
- Q6What is the term for a card issued by a financial institution that allows the cardholder to make electronic transactions using funds from their checking account?Membership cardGift cardCredit cardDebit card30s
- Q7What does APR stand for in banking?Average Personal ReturnAutomated Payment ReminderAnnual Percentage RateAccount Protection Regulation30s
- Q8What is the purpose of a checking account in banking?To take out loans for big purchasesTo invest in the stock marketTo make transactions, such as deposits and withdrawalsTo earn high interest on savings30s
- Q9What is the difference between a debit card and a credit card in banking?A debit card charges interest on purchases, while a credit card does notA debit card requires a credit check, while a credit card does notA debit card offers cashback rewards, while a credit card does notA debit card deducts funds directly from your checking account, while a credit card allows you to borrow money up to a certain limit30s
- Q10What is the concept of 'pay yourself first' in personal finance?Borrowing money to cover monthly expenses before saving anythingUsing all your income for immediate expenses and leisure activitiesPrioritizing saving a portion of your income before paying bills or expensesInvesting your entire income in the stock market for quick profits30s
- Q11What is the purpose of overdraft protection in a checking account?To earn interest on the account balanceTo cover transactions that exceed the available balance, avoiding declined payments and feesTo transfer funds between accounts easilyTo track daily spending habits30s
- Q12What is the purpose of a credit score in personal finance?To determine the amount of money one can save in a savings accountTo assess an individual's creditworthiness and likelihood of repaying borrowed fundsTo track daily expenses and budget effectivelyTo calculate the total income earned in a given year30s
- Q13Which of the following is NOT a benefit of having a savings account?Easy access to fundsOpportunity to earn interestHigh interest ratesSafety of funds30s
- Q14What economic term describes the decrease in the purchasing power of a currency, often evidenced by an increase in general price levels?InflationRecessionDeflationStagflation30s
- Q15What financial instrument can be traded in the stock market and represents ownership in a corporation?StockDerivativeBondCertificate of Deposit30s