NSTP-CWTS Final Quiz 2

We should keep our savings with banks because:

• It is safe

• Earns interest

• Can be withdrawn anytime

• All choices are correct

ATM password to be shared only with

• Spouse

• Obedient son

• Obedient daughter

• No one

Loans from money lenders are

• With High rate of interest

• No proper accounting

• No transparency

• All of above

The safest place for keeping money

• A pit dug in the ground

• An iron box

• Bank

• Money lender

Rent is a 

• Fixed expense

• Variable expense

• Discretionary expense

• Intermittent expense

Groceries are a

• Fixed expense

• Variable expense

• Discretionary expense

• Intermittent expense

Money that comes in or is earned is called _______

• Deductions

• Expenses

• Income

• Budget

When you owe money, it is called      

• Expenses

• Assets

• Debt

• Liabilities

What is the definition of needs?

• Income remaining after deduction of taxes and other mandatory changes available to be spent or saved as ones wishes.

• Something that is required because it is essential or very important.

• The object of a person's ambition or effort.

Money deposited in a financial institution is insured up to:

• $250,000   

• $400,000

•    $200,000

• $100,000