Financial Literacy

Financial Literacy

Assessment

Flashcard

Mathematics

3rd Grade

Hard

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15 questions

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1.

FLASHCARD QUESTION

Front

What is credit?

Back

Allowing goods and services to be used now with a promise of payment in the future.

2.

FLASHCARD QUESTION

Front

What does it mean to owe money?

Back

It is called Debt.

3.

FLASHCARD QUESTION

Front

What does it mean to pay back money with interest?

Back

You have to pay back the money PLUS an additional amount.

4.

FLASHCARD QUESTION

Front

What is borrowing money and paying it back with interest called?

Back

Credit.

5.

FLASHCARD QUESTION

Front

What is interest?

Back

The amount owed for borrowing money.

6.

FLASHCARD QUESTION

Front

What is a debtor?

Back

A person who owes money.

7.

FLASHCARD QUESTION

Front

What are assets?

Back

Things that you own that have value.

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