Quiz about Financial Literacy

Question 1

Maria wants to buy a car. How can a bank or credit union help her?

Accepted Answer

She can borrow money from the bank.

Answer

She can work 2 jobs to get the car.

Answer

She can save money in her piggy bank.

Answer

She can use her debit card to buy the car.

Question 2

Which one will protect money a person earns?

Accepted Answer

A credit union savings account

Answer

A box under the bed

Answer

Your mom's purse

Answer

In your back pack

Question 3

Which one of the following will NOT require the services of a bank?

Accepted Answer

Letting your brother borrow $5.00

Answer

Applying for a car loan

Answer

Borrowing money for a new home

Answer

Keeping $400.00 safe

Question 4

To deposit money means to -

Accepted Answer

to put money into the savings or checking account

Answer

take money out of the bank from the savings or checking account

Answer

to use a debit card to buy a jacket

Answer

to make payments on money you borrowed

Question 5

To withdraw money means to -

Accepted Answer

take money out of the bank from savings or checking account

Answer

to use a debit card to buy a jacket

Answer

to make payments on money you borrowed

Answer

to put money into the savings or checking account

Question 6

A fixed expense is -

Accepted Answer

when you pay the same amount every time you pay

Answer

when you pay different amounts every time you pay

Answer

when you pay off your bill

Answer

when you ask for money to pay

Question 7

A variable expense is -

Accepted Answer

when you pay different amounts every time you pay

Answer

when you pay off your bill

Answer

when you pay the same amount every time you pay

Answer

when you ask for money to pay

Question 8

What is an example of a fixed expense?

Accepted Answer

car payment

Answer

gas for the car

Answer

when you buy clothes for school

Answer

school supplies

Question 9

What is an example of a variable expense?

Accepted Answer

food expense

Answer

insurance payment

Answer

home payment

Answer

car payment

Question 10

Sam sells tacos in a food truck. He spent $45.69 on the ingredients for the tacos. After selling the tacos, he made $150.00. What was the profit Sam earned?

Accepted Answer

$104.31

Answer

$105.51

Answer

$105. 49

Answer

$104.69

Question 11

Esmeralda bought a painting for $49.00. She sold it to a paint collector for $215.00. What is the profit that she made?

Accepted Answer

$166.00

Answer

$164.00

Answer

$156.00

Answer

266.00

Question 12

35.67 - 13.98

Accepted Answer

21.69

Answer

21.79

Answer

22.79

Answer

11.69

Question 13

Juanita bought the following items to make bracelets to sell at the school fair.

string $4.40

blue beads $6.49

white beads $6.00

red beads $ 5.99

She made $95.00 from the sale. What was the profit Juanita made?

Accepted Answer

$72.12

Answer

72.22

Answer

$71.22

Answer

$73. 12

Financial Literacy

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