Finance Review (8th grade)

Fill in the blank: Values are ____________.

• a fundamental belief or practice about what is desirable, worthwhile, and important to an individual

• a set of rules enforced by law

• a temporary feeling or emotion

• an object of monetary value

Fill in the blank: Needs are ________ that we must have for survival.

• aspects

• choices

• wants

• possessions

Fill in the blank: Wants are _________

• desires for goods or services that increase the quality of life

• needs required for survival

• obligations imposed by society

• resources that are limited and scarce

Fill in the blank: A ______ is a financial plan for a specific period of time involving your income and expenses.

• budget

• receipt

• invoice

• contract

Fill in the blank: Expenses are ________ that you spend on aspects such as payments, bills, entertainment, insurance.

• money

• food

• clothes

• vehicles

What is the definition of 'Income'?

• Money received for work or investments

• Money spent on goods and services

• Money saved in a bank

• Money borrowed from others

Which type of account generally earns higher interest than a checking account?

• Savings Account

• Checking Account

• Credit Card Account

• Loan Account

A savings account helps you save your money so you won’t ______ it.

• spend

• lose

• find

• borrow

What is the definition of a Checking Account?

• A deposit account held at a financial institution that allows withdrawals and deposits.

• A type of loan provided by banks for purchasing homes.

• An investment account used for trading stocks and bonds.

• A savings account with a fixed interest rate and limited withdrawals.

Fill in the blank: A ______ is a card that allows consumers to purchase goods or services on credit.

• credit card

• debit card

• gift card

• membership card