Personal Finance Assessment

Personal Finance Assessment

6th Grade

31 Qs

quiz-placeholder

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Personal Finance Assessment

Personal Finance Assessment

Assessment

Quiz

Social Studies

6th Grade

Easy

Created by

Lisa Palmer

Used 1+ times

FREE Resource

31 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Henry took out a loan to buy a car. What is the term used to describe the money that Henry owes to the bank, typically involving a repayment schedule and interest?

Income

Expense

Credit

Investment

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Grace is applying for a car loan. Which term refers to the evaluation of her ability to repay the loan?

Charitable giving

Credit score

Overdraft

Budget

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a fixed expense?

A cost that changes based on usage or consumption

A cost that remains the same each period regardless of activity

A donation made to help others

The interest earned on investments

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term 'philanthropy' refer to?

The act of investing money to earn a return

The act of giving money to help others

The process of taking out a loan

The practice of saving money in a bank

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one way a student can participate in the economy of their community?

Volunteering at a local library

Doing a summer job

Watching a movie

Playing video games

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important for students to learn to manage their money?

To buy video games

To increase their money

To spend on holidays

To learn history

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What can be a consequence of Henry making poor financial decisions in his business?

Increased savings

Better grades in school

Negative impact on the community's economy

More leisure time

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