Banzai Financial Literacy Vocabulary Quiz

Banzai Financial Literacy Vocabulary Quiz

8th Grade

29 Qs

quiz-placeholder

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Banzai Financial Literacy Vocabulary Quiz

Banzai Financial Literacy Vocabulary Quiz

Assessment

Quiz

Mathematics

8th Grade

Medium

Created by

Jeanne Sanders

Used 17+ times

FREE Resource

29 questions

Show all answers

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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