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WorksheetsFinancial Literacy
Total questions: 25
Worksheet time: 25mins
Name
Class
Date
1.
What is coinsurance?
a)
The amount you are personally required to pay before your insurance covers the cost
b)
A fixed fee you pay for specific medical services
c)
The amount you pay the insurance company for coverage, usually paid each month
d)
Once you meet your deductible, it’s the percentage of the cost you pay
2.
Which degree takes longest to get?
a)
A Masters Degree
b)
A Bachelor's Degree
c)
A Professional Degree
d)
An Associates Degree
3.
What is a discretionary expense?
a)
The amount your earning
b)
The amount your spending
c)
When you control how much you spend
d)
An expense that occurs regularly and the amount rarely changes
4.
Which of these has the highest risk, but the highest growth as well?
a)
Bond
b)
Mutual Fund
c)
Savings Account
d)
Stock
5.
What is revenue?
a)
Unique expenses that may change each month
b)
Expenses where the amount paid typically doesn’t change
c)
The amount of money a shop makes from sales each month
d)
The amount a shop pays its workers
6.
True or False? The money on a credit card comes from your bank account
a)
True
b)
False
7.
Which account do you earn the most interest from?
a)
A Checking Account
b)
A Savings Account
c)
A Facebook Account
d)
A Certificate Of Deposit
8.
What is the Golden Rule of Finances?
a)
Spend more than you earn
b)
Spend a lot of money
c)
Save your check
d)
Spend less than you earn
9.
What is a budget?
a)
The amount of money you earn
b)
A plan for your money made up of income and expenses
c)
How much you spend
d)
A sale on an item
10.
True or False? When the supply is greater than the demand, the price will be higher
a)
True
b)
False
11.
Which card do you have to pay back the money you spend?
a)
A Credit Card
b)
A Debit Card
c)
A Gift Card
d)
A Rewards Card
12.
Fill in the blank. Earning a professional degree could mean that you could earn almost ___ times as much in salary over your lifetime.
a)
1
b)
2
c)
3
d)
5
13.
True or False? Compound interest is your estimated interest earned
a)
True
b)
False
14.
Is a stock exchange physical, electronic, or both?
a)
Physical
b)
Electronic
c)
Both
15.
Do long term savings goals require much investment, little investment, or no investment?
a)
Much Investment
b)
Little Investment
c)
No Investment
16.
Why can't you buy as much with a dollar as you used to be able to?
a)
Because of the inflation in goods and services
b)
Because of the deflation in goods and services
17.
True or False? A stipend is a fixed amount paid for your work
a)
True
b)
False
18.
What is social security?
a)
It goes to health care for people aged 65 and over
b)
Taxes that are paid to fund government services
c)
Paid to the state to help support communities in that state
d)
A tax that pays people who are or are soon to be retired
19.
What is bad and true abut payday loans?
a)
Payday loans don’t loan a lot of money
b)
Payday loans charge extremely high late fees
c)
You can’t get a payday loan before your paycheck
d)
You can only get a payday loan if your retired
20.
Joey wants to earn interest on his money, but isn’t sure what type of account he should open. Which account should Joey open, so he can earn the most interest on his money?
a)
A Checking Account
b)
A Savings Account
c)
A Certificate of Deposit
21.
Alex goes to an ATM and wants to withdraw cash from his checking account. Should he use his credit or debit card?
a)
Credit Card
b)
Debit Card
22.
Fill in the blank. An expense is the money your ____
a)
Spending
b)
Earning
c)
Investing
d)
Giving
23.
True or False? The FAFSA is used to apply for grants, work-study, and scholarships.
a)
True
b)
False
24.
What is liability when related to car insurance?
a)
It covers any damage you may cause to your own car
b)
It covers any damage you may cause to another person’s vehicle
c)
It covers any damage someone else may cause to your vehicle
25.
True or False. Stocks are how much money you could potentially earn from an investment.
a)
True
b)
False
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