Financial Literacy Quiz
Authored by Cami Schiffner
Business
12th Grade
Used 4+ times
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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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