FBLA Financial Literacy

This is a sum paid or charged for the use of money or for borrowing money

• Loan

• Credit

• Interest

• Budget

What do you call the ability to know how to handle your money in terms of planning, calculating, budgeting and investing?

• Financial literacy

• Monetary fluency

• Economic intellectualism

• Expenditure comprehension

In Ireland, nearly half of young people aged between 13 and 18 worry about managing money.

• True

• False

According to the text, what is an important reason for young people to know how to manage their finances?

• So they could be independent.

• So they could shop more freely.

• So that they are prepared for the unknown.

Imagine Emma, Kai, and Harper are starting a business together. They receive a large investment but owe a huge debt to a bank. To finally be free and grow their business, they must do what with their finances?

• Surreal

• Rescind

• Anecdote

• Liquidate

Answer explanation

To liquidate means to pay a debt, settle an account, or eliminate. This aligns with the definition provided in the question, making 'Liquidate' the correct choice.

What is the overall idea of the text?

• To promote the need for financial education in schools.

• To promote excessive spending in schools.

• To showcase that women spend more than men.

• To give a solution to the lacking education system.

Being on a budget means...

• You pay bills every month on the due date.

• You made a plan of your expenses to be less than or equal to your income.

• You are earning enough money to be able to live well.

• Your bills are generally paid by every due date.

Which of the following sentences uses the word 'budget' correctly?

• She budgeted her time wisely to finish the project.

• He budgeted the car to the garage.

• They budgeted the cake for the party.

• We budgeted the dog to the park.

What is the synonym of 'financial'?

• Monetary

• Physical

• Emotional

• Biological

Choose the sentence that is grammatically correct.

• He don't have no money left.

• She doesn't have any money left.

• They doesn't have no money left.

• We doesn't have any money left.