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WorksheetsFinance Park - Pre/Post Quiz
Total questions: 16
Worksheet time: 48mins
An example of a financial institution is:
A department store
A Bank
A school
An ATM
Who uses financial institutions?
Adults
College Graduates
Almost everyone who maintains a savings or checking account, uses debit/credit cards, or needs a loan
Only people with lots of money $$$
Identify the INCORRECT statement:
A debit card allows for an immediate electronic transfer from a card members savings or checking account
A debit card is essentially a paper check, but doesn't require the processing time a check does.
A debit card is handy in an emergency when you DON'T have the money to spend.
A debit card is a "pay-now" payment type with no grace period for payment.
When lenders loan money to borrowers, they charge an additional fee for the use of that money. This is called:
Debit
Stock
Interest
Credit
Which of the following is NOT an advantage of a credit card:
Doesn't require immediate funds
It provides a "Buy now, but Pay later" purchase type
It allows you to cover emergency costs that you may not be able to afford at that moment.
It's not real money if you buy things with a credit card so you don't have to pay it back
Who pays taxes?
Most people that have a job
Most people who purchase things
Most people who own property
All of the above
What are the 3 main types of taxes?
Income, sales, and property
Unemployment, Sales, and Property
Federal Income, unemployment, and State
State, property, and luxury
What is Social Security?
A Private insurance system just for the elderly
A free insurance system
The total amount of money someone has
None of the above
Federal, Social Security, and Medicare are all types of taxes.
True
False
The total amount of earnings made each month, after all deductions have been taken out is known as:
Gross annual income
Gross monthly income
Net annual income
Net monthly income
When it comes to personal savings, what does PYF stand for?
Prepare Your Future
Pay Your Friends
Pay Yourself First
Prepay Your Finances
A record of income, spending, and a plan to manage your money is called:
Credit
Budget
Investments
Interest
Short-term goals are:
Hard to reach
Accomplished in less than a year
Personal
Categorized by wants and needs
When budgeting, the first category to consider are the ones that meet your:
Wants
Needs
Discretionary funds
Important expenses
In what category of a typical family budget do people spend most of their money?
Food
Housing
Transportation
Entertainment
Jason went to the grocery store to buy a gallon of milk for his mother. While waiting in the checkout line, he saw a display for a new chocolate-caramel candy bar, so he bought that too. The candy bar he purchased was an example of a/an:
Need
Investment
Impulse purchase
Short-term goal
