Financial Literacy Quiz

Ella and Harry are playing a game where they need to manage their virtual bank accounts. What is the word used for money taken out of an account?

• Credit

• Debit

• Loan

• Saving

Lily and Jack are planning a big holiday, but they need some extra funds to make it happen. What term describes the act of borrowing money from a bank or another person with the promise to pay it back later?

• Credit

• Overdraft

• Loan

• Investing

You're planning a fun day out with your friends Ethan, Theo, and Maddy. After paying for the tickets and travel, what is the term for the money you have left to spend on your adventure?

• Credit score

• Disposable income

• Overdraft

• Risk

Mo and Chloe are discussing their future plans with their friend, Stanley, who said, "I want to put my money into financial schemes, shares, or property with the hope of making a profit." What term best describes Stanley's plan?

• Saving

• Investing

• Gambling

• Paying interest

Layla is planning to buy a car and needs to borrow some money. What is the term for the cost of borrowing money, usually expressed as a percentage of the amount borrowed?

• Credit score

• Paying interest

• Overdraft

• Risk

Imagine Ryan has a piggy bank where he puts his extra coins for a rainy day. What is this practice called?

• Saving

• Investing

• Credit

• Loan

Sam has missed two monthly payments for his mobile phone. How will this affect him?

• It will not be good for his Credit score

• It can affect his chances of borrowing money in the future

• The service to his phone could be cut off

• Nothing, it doesn't matter as he will pay it next month

Charlie, Lily, and Farzeen are exploring the world of finance. They decide to buy some shares that they were told about. What is the term used to describe the danger of this?

• Credit

• Risk

• Saving

• Loan

Alex and Leila are planning a fun night out. They decide to spend some money on games of chance, hoping to win big! What is this activity called?

• Investing

• Gambling

• Saving

• Credit

Zilan is at her favourite gadget store, thinking about getting the latest smartphone. She can take it home today without paying immediately. What is this arrangement called?

• Credit

• Debit

• Loan

• Overdraft