Banzai Post Test Practice

How does your money grow once you put it in a savings account?

• The bank gives you more money over time for keeping money in an account.

• Your mom puts money in your account every birthday.

• It doesn't grow. The amount stays the same until you add to it yourself.

What's income?

• Money that you owe another person.

• Money that you earn.

• Money that you spend.

Why would someone create a budget?

• To keep track of money earned and money spent.

• To keep track of how much money is in your savings account.

• None of the above.

What's interest?

• Money that you put in a savings account.

• Money that a bank pays you regularly to keep your money in a savings account.

• Money left over after you pay expenses.

• Money that you spend on your hobbies.

You put $25 into your savings account. What is this called?

• account balance

• Interest

• A deposit

Which of the following is true about sales tax?

• It's included in the prices of things that you buy.

• Kids don't have to pay sales tax.

• It's a percentage of your final total at the store.

Why do you need to save money in an emergency fund?

• To pay for things you really, really want.

• To pay back money that you borrowed from your sister.

• To buy supplies for your job.

• To pay for things that you didn't plan for.

You're dying for a pair of Air Jordan sneakers to wear to school, but they're expensive. What is this an example of?

• A long term goal

• A need.

What's a withdrawal?

• When you put money in your savings account.

• When you take money out of a bank account.

• A way to track your spending.

A debit card is...

• A card which you may only make online purchases with.

• A card that lets you buy goods and services based on a promise to pay later.

• Like a credit card, but it takes money directly from your checking account.