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Financial Literacy Quiz

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

What type of income do we not actively work for?

a)

Active

b)

Sleep

c)

Passive

2.

Needs are things necessary for what?

a)

Survival

b)

Cravings

c)

Taste buds

3.

What should you always prioritize over wants?

a)

Needs

b)

Wants

c)

Cravings

4.

What kind of support does life insurance provide to the family of the deceased?

a)

Spiritual

b)

Moral

c)

Financial

5.

What is the extra money the bank gives you for saving called?

a)

Rate

b)

Interest

c)

Money

6.

What should we always try to limit?

a)

Needs

b)

Wants

c)

Survival

7.

What does risk refer to the possibility of happening?

a)

Good

b)

Passive

c)

Bad

8.

What is it called when you put money into your bank account?

a)

Withdrawal

b)

Deposit

c)

Interest

9.

Not washing your hands regularly increases the risk of getting what?

a)

Poor

b)

Fatigue

c)

Sick

10.

Which type of income do royalties represent?

a)

Bad

b)

Good

c)

Passive

11.

Is passive income considered free money?

a)

True

b)

Not sure

c)

False

12.

What do we insert in an ATM to withdraw money?

a)

Card

b)

Puzzle

c)

USB

13.

Which type of insurance helps cover medical expenses?

a)

Car

b)

Home

c)

Health

14.

What is the first step after choosing a bank to open an account?

a)

Fill out an application

b)

Deposit money

c)

Get account details

15.

What can protect you from financial loss?

a)

Risk

b)

Investment

c)

Insurance

16.

What is rent a reward for?

a)

Investment

b)

Book

c)

Land

17.

What are things that are not necessary for survival?

a)

Needs

b)

Wants

c)

Survival

18.

What kind of income can you earn by creating online content?

a)

Bad

b)

Good

c)

Passive

19.

Which of the following is an example of a need?

a)

Food

b)

Toys

c)

Pizza

20.

Which of the following is a type of bank account?

a)

OPAY account

b)

Savings account

c)

Bank account

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