FINANCIAL LITERACY

1.What is the primary function of money?

• A. To make shopping fun

• B. To trade goods and services

• C. To collect in your piggy bank
  

• D. To pay taxes

2. In ancient times, which of the following was commonly used as money before coins?

• A. Smartphones

• B. Cows and salt

• C. Paper bills

• D. Gold credit cards

3. What does the term “currency” mean?

• A. A type of banking app

• B. A country's official money

• C. The cost of goods
  

• D. A way to save coins

4. Which country uses the Yen (¥) as its official currency?

• A. South Korea
  

• B. China

• C. Japan

• D. India

5. Which of these is an example of a currency used in Africa?

• A. Peso

• B. Naira
  

• C. Euro
  

• D. Yen

6. What is a simple definition of a budget?

D. A type of loan

• A. A savings account
  

• B. A plan for spending and saving money
  

• C. A list of everything you want
  

• D. A type of loan

7. Why is having a budget important?

• A. To impress your friends
  

• B. So you can always spend more
  

• C. To track your money and avoid overspending
  

• D. So you never have to save

8. 8. Which of the following is a need?

• A. A new video game
  

• B. A pair of designer shoes
  

• C. Clean drinking water
  

• D. A smartphone upgrade

9. Which of the following is a want?

• A. Medicine for an illness
  

• B. Food and shelter
  

• C. Going to the movies
  

• D. School supplies

10. Imagine you have only $50. Which is the best choice to spend it on?

• A. A concert ticket
  

• B. A new hoodie
  

• C. Groceries for the week
  

• D. A fast-food meal for friends