Personal Financial Literacy Test Review

________ is the money people are paid for the work they do.

• Saving
• Spending
• Goods
• Income

________ are activities we want people to do for us like wash the car or paint our house.

• Goods
• Services
• Interest
• Borrowing

________ is a fee paid for borrowing money.

• Income
• Interest
• Saving
• Borrowing

Ms. Agina was paid for walking dogs. Is this an example of earning income?

• Yes
• No

Are shoes a good or service?

• Good
• Service

Is mowing the lawn a good or service?

• Good
• Service

Is washing a car a good or service?

• Good
• Service

Is a Pokemon card a good or service?

• Good
• Service

Mr. Chasin has saved money and deposited into his bank account. He deposited the following each week.
Week 1: $5.00
Week 2: $10.00
Week 3: $10.00
How much more will Mr. Chasin need to save to buy a new video game that cost $50.00?

• $100.00
• $25.00
• $45.00
• $15.00

If Ms. August has $10.00 and wants to buy a shirt for $8.00 and pants for $15.00, how much more money will she need to make her purchase?

• $10.00
• $13.00
• $8.00
• $1,000