BEP Financial Literacy Vocabulary Game

Fill in the blank: A ______ is a document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued.

• Cheque

• Invoice

• Receipt

• Voucher

Fill in the blank: A ______ is a financial institution that is licensed to receive deposits and make loans. They may also provide financial services.

• Commercial Bank

• Credit Union

• Investment Fund

• Insurance Company

A ______ is a type of account for holding savings and investment assets. They promote savings for retirement.

• RRSP

• TFSA

• RESP

• GIC

Fill in the blank: A ______ is an account that provides tax benefits for saving in Canada. Investment income earned is not taxed, even when withdrawn.

• TFSA

• RRSP

• RESP

• GIC

Fill in the blank: ______ is the Canada Pension Plan, a government pension plan that provides contributors and their families with partial replacement of earnings in the event of retirement, disability or death.

• CPP

• CPC

• CPCP

• PPC

Fill in the blank: ______ is Employment Insurance, a government social program that provides contributors with temporary benefits for workers who lose their job, have a baby, become ill or have to care for someone who has become ill.

• EI

• UI

• CI

• BI

Fill in the blank: ______ are Federal and Provincial taxes every working Canadian pays.

• Tax

• Income

• Sales

• Property

Fill in the blank: ______ is the money you have per month to cover all your costs, expenses, debt payment, and savings (also referred to as disposable income).

• Take home pay

• Gross income

• Net worth

• Fixed expenses

__________ is the money a person earns during a particular time period, often expressed weekly, monthly or annually

• Chequing account

• Inflation

• Stock

• Income

What is a plastic card that allows the holder to buy goods and services based on the holder’s promise to pay for them later.

• Debit card

• Credit card

• Bond

• Tax-Free Savings Account (TFSA)