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Financial Literacy - Get Smart with Money

Total questions: 12

Worksheet time: 6mins

Name
Class
Date
1.

A monthly plan for how you are going to save and spend your income

a)

Bank account

b)

Asset

c)

Budget

d)

Finances

2.

Liabilities are the things you owe, including any debt

a)

True

b)

False

3.

How you handle your money is called

a)

Budget

b)

Personal Finance

c)

Bank Account

d)

Money

4.

What percentage of personal finance is behavior?

a)

30%

b)

80%

c)

20%

d)

70%

5.

Credit is owing anything to anyone for any reason.

a)

True

b)

False

6.

Assets are the things you own and the money you have. This adds to your net worth

a)

True

b)

False

7.

The Five Foundations are the beginner steps for establishing and maintaining financial struggles.

a)

True

b)

False

8.

What percentage of personal finance is head knowledge?

a)

60%

b)

20%

c)

10%

d)

80%

9.

When you borrow money, you go into debt and create _________

a)

Budget

b)

Debit

c)

Credit

d)

Finance

10.

Most people view money as simply a way to get something they want.

a)

True

b)

False

11.

Net Worth is basically how much money a person, family, or business can claim as total value

a)

True

b)

False

12.

When people have nice things they bought with credit, they have a huge _______ to pay back

a)

Debt

b)

Finance

c)

Liability

d)

Debit