wayground logo

Free Printable Worksheets

NEW

Font size

S
M
L
XL
Worksheets

Financial Literacy, 2022-23

Total questions: 30

Worksheet time: 23mins

Name
Class
Date
1.

Being on a Budget means.....

a)

You are earning enough money to live well

b)

You pay your bills on time every month

c)

You made a plan of your expenses to be less than or equal to your income

d)

Your bills are generally paid on time every month

2.

What portion of your income should you budget for daily needs?

a)

20%

b)

30%

c)

50%

d)

10%

3.

What does it mean to have an Annual Wage?

a)

Your income is calculated by the amount of hours you work.

b)

Your income is calculated by the year you work.

c)

Your Income is calculated by the months you work.

d)

Your income is calculated by the days you work.

4.

What does it mean to have an Hourly Wage?

a)

Your income is calculated by the amount of hours you work.

b)

Your income is calculated by the year you work.

c)

Your Income is calculated by the months you work.

d)

Your income is calculated by the days you work.

5.

When borrowing money, like a loan, you pay back the amount with....

a)

Interest

b)

Debt

c)

Inflation

d)

Income

6.

What is a tax?

a)

money owed after using a credit card

b)

contribution to government revenue

c)

a type of currency

d)

a collection of your income for savings

7.

What is an income?

a)

a way to save money

b)

the amount of tax owed

c)

Money received from a job

d)

a type of currency

8.

True or False: Personal Finance is the ability to earn, spend, and save money to live comfortably and achieve goals.

a)

True

b)

False

9.

A physical item that can be weighed, measured, and sold is a.....

a)

Goal

b)

Service

c)

Good

d)

Surplus

10.

True or False: a Service is a task that a person or a machine performs for you.

a)

True

b)

False

11.

The amount of money earned after selling an item is called a...

a)

Income

b)

Good

c)

Service

d)

Profit

12.

The ways in which people make, distribute, and use their goods and services is called the......

a)

Funds

b)

Economy

c)

Investment

d)

Labor

13.

This type of card allows you to purchase an item without cash, but requires you to pay back by the end of the month:

a)

Debit Card

b)

Library Card

c)

Credit Card

d)

Banking Card

14.

This type of card allows you to purchase an item without cash, but takes money directly out of a bank account:

a)

Banking Card

b)

Library Card

c)

Credit Card

d)

Debit Card

15.

This is the financial term for when an item, like a car, loses its value due to normal wear and use.

a)

Depreciation

b)

Appreciation

c)

Loss of Investment

d)

Normal Wear

16.

Type of bank account that offers easy access to your money for daily transactional needs and helps keep your cash secure

a)

Checking Account

b)

Savings Account

c)

Certificate of Deposit

d)

Stock

17.

Type of bank account that offers easy ways to save and earn interest on your money.

a)

Checking Account

b)

Savings Account

c)

Certificate of Deposit

d)

Stock

18.

What does it mean to have personal debt?

a)

You borrowed money, and need to pay back

b)

Someone owes you money

c)

You save money in a bank account

d)

You made a budget to limit overspending

19.

A good or service that motivates or encourages one to spend money...

a)

Investment

b)

Infomercial

c)

Incentive

d)

Interest

20.

What is it called when making one choice to gain a benefit or opportunity, while knowingly losing another opportunity?

a)

Savings

b)

Investment

c)

Trade-Off

d)

Debt

21.

True or False: Use a Deposit Slip to transfer money into your Checking or Savings account.

a)

True

b)

False

22.

The current amount of money that is present in your financial account, like a savings or checking account, is called the......

a)

Overdraft

b)

Balance

c)

Deposit

d)

Deductible

23.

The transfer of money, whether you are depositing or withdrawing, is known as a.....

a)

Exchange

b)

Withdrawing

c)

Transaction

d)

Deposit

24.

True or False: A withdrawal involves removing funds from a bank account

a)

True

b)

False

25.

When filling out a deposit slip or withdrawl slip, how will the bank know which account to use? Use your....

a)

Credit ID

b)

Name

c)

Check Number

d)

Account Number

26.

True or False: You use checks to transfer money in and out of your Savings Account

a)

True

b)

False

27.

This document allows you check all your bank transactions within a fixed time period.

a)

Transaction Form

b)

Paystub

c)

Statement

d)

Checkbook

28.

The possibility of losing money on an investment is known as a...

a)

Loan

b)

Debt

c)

Trade-Off

d)

Risk

29.

This is a partial ownership in a company.

a)

CD

b)

Stock

c)

Profit

d)

Bond

30.

This is essentially lending money to the government in exchange for recurring profit payments.

a)

Bond

b)

Stock

c)

Profit

d)

CD