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Financial Literacy

Total questions: 17

Worksheet time: 10mins

Name
Class
Date
1.

What is it called when someone sends money to your bank account using your email address?

a)

Cheque

b)

PayPal

c)

Credit Card

d)

E-transfer

2.

When you use your credit card you are __________ money from the credit card company.

a)

donating

b)

borrowing

c)

sending

3.

What am I charged if I do not pay my credit card bill on time?

a)

Invest

b)

apples

c)

cheque

d)

Interest

4.

A debit card is like using _________.

a)

a cheque

b)

a credit

c)

cash

d)

a loan

5.

A credit card does not have to be paid back.

a)

True

b)

False

6.

Putting money into my bank about is called a __________.

a)

deposit

b)

withdrawal

c)

payment

d)

cheque

7.

When I take money out of my account I am doing a __________.

a)

deposit

b)

investment

c)

withdrawal

d)

cheque

8.

If you continue to pay the minimum payment on your credit card, it will take ______________ to pay it off.

a)

more time

b)

less time

9.

Advantages of credit cards are...


Click all that apply.

a)

debt

b)

over spending

c)

emergency funds

d)

can buy things online

10.

On a debit or credit card, the chip adds an extra layer of security.

a)

True

b)

False

11.

A plan for making and spending money is called a _________.

a)

loan

b)

cost

c)

bank

d)

budget

12.

Money that has been borrowed is called a ________.

a)

savings

b)

budget

c)

loan

d)

expense

13.

What does it mean to save your money?

a)

Saving is keeping your money for a future purchase

b)

Saving is buying something that you want or need

c)

Saving is getting money from a job or chore

14.

A person who buys or uses goods and services can be defined as a __________.

a)

service

b)

consumer

c)

banker

d)

producer

15.

Sarah borrowed $20.00 from her sister to buy a new pair of skates. She paid her sister $5.00 each week. How many weeks did it take Sarah to pay her sister back?

a)

8

b)

6

c)

2

d)

4

16.

Susie is trying to decrease the amount of money she spends each month. What should Susie cut out to save money? Click all that apply.

a)

groceries

b)

online shopping

c)

eating out

d)

rent

17.

When I pay for something with my phone it is called a _________.

a)

cash payment

b)

cheque

c)

mobile payment