Banzai Financial Literacy Vocabulary Quiz
Authored by Jeanne Sanders
Mathematics
8th Grade
CCSS covered
Used 17+ times
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29 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is the purpose of a budget?
To withdraw cash from a checking account
To decide the amount of money to spend and how it will be spent
To make purchases and pay for them at a later date
To cover medical illness or injury
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is the function of a debit card?
To make purchases with funds directly from a checking account
To withdraw cash from a checking account
To cover medical illness or injury
To decide the amount of money to spend and how it will be spent
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is the definition of a cleared check?
A record of all deposits to and withdrawals from a checking account
A fee charged to your account when you spend more money than you have
An order to pay another person an amount of money from your account
When money has transferred from the account of the payer to the payee
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What does the term 'overdraft' refer to?
An order to pay another person an amount of money from your account
A plan used to decide the amount of money to spend and how it will be spent
Credit extended from a financial institution when an account has insufficient funds
A product offered by a company promising to protect you from specific financial risks
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is the purpose of renters insurance?
Covers your personal property in a rented apartment or home
Account for storing or saving money with limited withdrawals
Protects against losses to property and injuries to people in a car accident
A way to balance your account records with your bank or credit union
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is the purpose of a savings account?
To make purchases with funds directly from a checking account
To cover medical illness or injury
Account for storing or saving money with limited withdrawals
To decide the amount of money to spend and how it will be spent
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is the function of a credit card?
To make purchases with funds directly from a checking account
To make purchases and pay for them at a later date
To cover medical illness or injury
To decide the amount of money to spend and how it will be spent
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