Finance Quiz

Finance is defined as ...

• Super exciting stuff

• The way of life.

• The management of large amounts of money, by governments or large companies.

• Your own money: how you earn it, manage it, and hopefully make it grow.Includes activities such as investing, borrowing, lending, budgeting, saving, and forecasting.

Is Ally showing financial literacy if she waits for the sales to buy her new phone.

• Yes, as she is waiting for the price to drop.

• Yes, as she is being patient.

• No because she is not buying a financial book.

• No because she should buy her phone now.

Jonathan says prices are going up after going through his shopping list. This means...

• They have increased.

• Ascending

• Santa is coming.

• They have decreased.

What is the best way to budget?

• Use a table and calculator.

• Compare all your options, use a table and calculator for accuracy.

• To take your time.

• Do not budget.

Saving is putting money aside for the future.

• True

• False

Reorder the following. What is most to least important to pay for?

• Water

• Bills

• Running Shoes

• Electric Scooter

• Food

Ben just bought a new car and has a loan. What is the best way for him to sort his finances?

• To take a holiday.

• Create a budget of essential spendings and financial plan to know what money is for his loan.

• Organise his money into dollars and cents.

• Organise a financial plan with the bank.

What are expenses?

• Needs

• The cost incurred in or required for something. Also known as the cost of something.

• Money decreasing.

• My piggybank going down.

Goods and Services Tax in Australia is a value added tax of 10% on most goods and services sales, with some exemptions and concessions.

• True

• False

What is the currency in Australia?

• Australia Dollars

• Kangaroo dollars

• Australian dollars

• Both dollars and cents