Financial Literacy: Terms and Definitions

Financial Literacy: Terms and Definitions

5th Grade - Professional Development

10 Qs

quiz-placeholder

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Financial Literacy: Terms and Definitions

Financial Literacy: Terms and Definitions

Assessment

Quiz

English

5th Grade - Professional Development

Medium

Created by

Dinara Yeung

Used 6+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How can you know what your net worth is?

By looking at your paycheck: your net worth is your salary.

By adding the value of all your assets and subtracting your liabilities.

By adding the value of all your liabilities and subtracting your assets.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a mortgage?

Money borrowed from a bank to buy a house

Money borrowed from a bank to pay for college

A thing that people collect as an investment

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

How often should we assess our short- and medium-term goals?

Every 3-6 days

Every week

Every 3-6 months

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What could be an example of a short-term goal?

Saving for a house

Paying off a credit card bill

Traveling in retirement

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What could be an example of a medium-term goal?

Paying off a credit card bill.

Saving for a house.

Traveling in retirement.

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What could be an example of a long-term goal?

Saving for Christmas gifts.

Paying off a credit card bill.

Traveling in retirement.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What information does your credit report contain?

Your short-, medium- , and long-term goals.

The status of your credit accounts and your bill paying history

The value of the property and money that you have

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