6.1 Personal Financial Literacy Math Test

Name:

1. Which 3 things can be considered a need, rather than a want (something needed for survival).

• A. home, bills, and clothes
• B. video games, art supplies, and chocolate

2. Brandon had $20 in his savings. Two weeks later, he had $30. Did Brandon save or spend his money?

• save
• spend

Part B #2. How much money did Brandon save/spend?

• $50
• $30
• $10

3. ______________is to use money for something you need or want.

• dollars
• spending
• saving
• wants

4. Katy had $15 in her saving. After 3 weeks, she had $12 more in her savings. How much money did Katy have in her savings then?

5. How many nickels will Selena have saved after the 4 weeks?

• A. 26 nickels
• B. 16 nickels
• C. 18 nickels
• D. 28 nickels

Part B #5. Why it's important to save money?

• A. To put aside money for future needs and wants.
• B. To buy things that we do not need

6. How much money did Leo put in savings?

7. What is a need?

• A. Things that are essential like shelter and food.
• B. Things we would like to have, but do not need to survive.