Basic Financial Literacy Terms

Basic Financial Literacy Terms

11th Grade

13 Qs

quiz-placeholder

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Basic Financial Literacy Terms

Basic Financial Literacy Terms

Assessment

Quiz

Financial Education

11th Grade

Practice Problem

Easy

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13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Transfer Payments

A one-way payment of money for which no service or good is exchanged.

A payment made in exchange for goods or services.

A payment that requires a return service or good.

A payment made to support a specific project or initiative.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fixed Income

The same amount of money is earned at set intervals, such as monthly or quarterly.

Income that varies based on market conditions.

Income that is only earned annually.

Income that is dependent on the performance of stocks.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Withdrawals

Moving money from an account to pay expenses, transfer to other accounts, withdraw cash from an ATM, or make purchases.

Depositing money into an account for future use.

Transferring funds between different currencies.

Investing money in stocks or bonds.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Capital Gain

Profit made from an investment.

Loss incurred from an investment.

Revenue generated from sales.

Interest earned on savings.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Itemization

A general overview of a topic.

A specific listing of individual pieces or units of information.

A summary of key points.

A detailed explanation of a concept.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Variable Income

The amount of money earned is the same each pay period.

The amount of money earned is not the same each pay period.

The amount of money earned is guaranteed to increase every pay period.

The amount of money earned is fixed regardless of hours worked.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Take-home Pay

The total amount earned before any deductions.

The amount of a paycheck one gets to keep after taxes and other deductions are taken out.

The amount deducted for retirement savings.

The gross income before taxes are applied.

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