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Savings Quiz

Total questions: 19

Worksheet time: 10mins

Name
Class
Date
1.

Co-pay

a)

a way to minimize risk for accidents and unforeseen circumstances

b)

An IOU issued by a company, municipality, or the federal government in exchange for a loan from an investor that will be repaid with a set rate of return

c)

A fixed amount you pay when you visit the doctor (regardless of whether or not your deductible has been made).

d)

a document detailing the terms and conditions of a contract of insurance.

2.

Ticker Symbol

a)

an abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market.

b)

the amount of money that an individual or business must pay for an insurance policy

c)

The possibility of financial loss or harm.

d)

an individual retirement account allowing a person to set aside after-tax income up to a specified amount each year. Both earnings on the account and withdrawals after age 59½ are tax-free.

3.

Deductible

a)

financial ($) application showing your ability to pay for college (must be completed annually)

b)

The possibility of financial loss or harm.

c)

The amount of money originally invested or borrowed

d)

The amount you pay for health procedures or hospital stays before your insurance plan starts to pay.

4.

Invest

a)

To commit money to gain a profit or earn interest

b)

financial ($) application showing your ability to pay for college (must be completed annually)

c)

the action or fact of leaving one's job and ceasing to work

d)

award of financial ($) assistance from a federal agency

5.

Interest

a)

an abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market.

b)

A fee paid or charged for the use of money or for borrowing money

c)

A collection of stocks or bonds of various corporations.

d)

a document detailing the terms and conditions of a contract of insurance.

6.

Risk

a)

A fractional share of a corporation sold to the public.

b)

a document detailing the terms and conditions of a contract of insurance.

c)

The possibility of financial loss or harm.

d)

the action or fact of leaving one's job and ceasing to work

7.

insurance

a)

A savings account designed for college

b)

a way to minimize risk for accidents and unforeseen circumstances

c)

the amount of money that an individual or business must pay for an insurance policy

d)

The possibility of financial loss or harm.

8.

Principal

a)

The amount of money originally invested or borrowed

b)

An IOU issued by a company, municipality, or the federal government in exchange for a loan from an investor that will be repaid with a set rate of return

c)

a grant or payment ($) given to students to support a student's education & is awarded on the basis of academic or other achievement

d)

A fee paid or charged for the use of money or for borrowing money

9.

Insurance Policy

a)

An IOU issued by a company, municipality, or the federal government in exchange for a loan from an investor that will be repaid with a set rate of return

b)

financial ($) application showing your ability to pay for college (must be completed annually)

c)

A fee paid or charged for the use of money or for borrowing money

d)

a document detailing the terms and conditions of a contract of insurance.

10.

Retirement

a)

the action or fact of leaving one's job and ceasing to work

b)

The possibility of financial loss or harm.

c)

interest paid on a starting amount, called the principal, plus prior interest

d)

The amount you pay for health procedures or hospital stays before your insurance plan starts to pay.

11.

Pay Yourself First (PYF)

a)

The amount you pay for health procedures or hospital stays before your insurance plan starts to pay.

b)

The amount of money originally invested or borrowed

c)

Automatically routing your specified savings contribution from each paycheck when it is received

d)

A collection of stocks or bonds of various corporations.

12.

scholarships

a)

a grant or payment ($) given to students to support a student's education & is awarded on the basis of academic or other achievement

b)

The possibility of financial loss or harm.

c)

the action or fact of leaving one's job and ceasing to work

d)

A business that provides money-related services.

13.

Bond

a)

The percentage of costs of a covered health care service you pay after you've paid your deductible.

b)

The amount of money originally invested or borrowed

c)

A fee paid or charged for the use of money or for borrowing money

d)

An IOU issued by a company, municipality, or the federal government in exchange for a loan from an investor that will be repaid with a set rate of return

14.

Financial Institution

a)

A business that provides money-related services.

b)

an abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market.

c)

A savings account designed for college

d)

interest paid on a starting amount, called the principal, plus prior interest

15.

Premium

a)

the action or fact of leaving one's job and ceasing to work

b)

the amount of money that an individual or business must pay for an insurance policy

c)

An interest-bearing account where people put money for future use

d)

A fixed amount you pay when you visit the doctor (regardless of whether or not your deductible has been made).

16.

Stock

a)

A fractional share of a corporation sold to the public.

b)

Automatically routing your specified savings contribution from each paycheck when it is received

c)

An IOU issued by a company, municipality, or the federal government in exchange for a loan from an investor that will be repaid with a set rate of return

d)

A fixed amount you pay when you visit the doctor (regardless of whether or not your deductible has been made).

17.

Mutual Funds

a)

Automatically routing your specified savings contribution from each paycheck when it is received

b)

A collection of stocks or bonds of various corporations.

c)

A business that provides money-related services.

d)

The amount of money originally invested or borrowed

18.

Opportunity Cost

a)

a document detailing the terms and conditions of a contract of insurance.

b)

Automatically routing your specified savings contribution from each paycheck when it is received

c)

The next best alternative given up when making a financial choice.

d)

A collection of stocks or bonds of various corporations.

19.

Savings Account

a)

A fee paid or charged for the use of money or for borrowing money

b)

a grant or payment ($) given to students to support a student's education & is awarded on the basis of academic or other achievement

c)

An interest-bearing account where people put money for future use

d)

The possibility of financial loss or harm.