Financial Literacy Quiz

What is the term for receiving money in exchange for work?

• Spend

• Save

• Earn

• Balance

What does the term "Balance" refer to in a financial context?

• A plan that balances income with expenses.

• The amount of money you have in your bank account.

• Money that you owe.

• A fee paid for the use of money.

What is a Credit Union?

• A for-profit financial institution that is generally owned by stockholders.

• A personal loan that allows you to use a card to make purchases.

• A nonprofit financial institution that is owned by its members and organized for their benefit.

• A place that helps its members manage their money.

What is the definition of "Debit card"?

• A card loaded with a specific amount of money.

• A paper form of payment that is used to transfer money from your checking account to a person or company.

• A physical card that is connected to your checking account and used to make purchases.

• Putting money into a bank account.

What does "Budget" mean in terms of finances?

• Money that you spend.

• A personal loan that allows you to use a card to make purchases.

• The amount of money you have in your bank account.

• A plan that balances income with expenses.

What is the purpose of a "Prepaid card"?

• A card loaded with a specific amount of money (not linked to checking or credit account).

• A physical card that is connected to your checking account and used to make purchases.

• A personal loan that allows you to use a card to make purchases.

• A paper form of payment that is used to transfer money from your checking account to a person or company.

What does the term "Income" refer to in the context of finances?

• Money that you spend.

• Money that you save.

• Money that you receive.

• Money that you borrow.