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Financial Literacy Quiz

Authored by Cami Schiffner

Business

12th Grade

Used 4+ times

Financial Literacy Quiz
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for when a person accepts the terms of an offer?

Acceptance

Counteroffer

Contract

Offer

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are items of value that a person owns called?

Assets

Liabilities

Wealth

Expenses

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a spending and saving plan based on your expected income and expenses?

Budget

Financial Plan

Net Worth

Cash Surplus

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the financial ability to repay a loan with present income known as?

Capacity

Cash Deficit

Disposable Income

Fixed Expenses

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When are estimated expenses greater than estimated income?

Cash Deficit

Cash Surplus

Fixed Expenses

Variable Expenses

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is something of value exchanged for something else of value?

Consideration

Contract

Negotiable

Warranty

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a legally enforceable agreement between two or more people?

Contract

Offer

Counteroffer

Notarized

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