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Financial Literacy Quiz

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

What type of income do royalties represent?

a)

Bad

b)

Good

c)

Passive

2.

What kind of income do we not work for actively?

a)

Active

b)

Sleep

c)

Passive

3.

By creating online content, you can earn what type of income?

a)

Bad

b)

Good

c)

Passive

4.

Rent is a reward for what?

a)

Investment

b)

Book

c)

Land

5.

What do you call putting money into your bank account?

a)

Withdrawal

b)

Deposit

c)

Interest

6.

What should you always prioritize over wants?

a)

Needs

b)

Wants

c)

Cravings

7.

Needs are things that are necessary for what?

a)

Survival

b)

Cravings

c)

Taste buds

8.

What type of insurance covers medical expenses?

a)

Car

b)

Home

c)

Health

9.

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

a)

Poor

b)

Fatigue

c)

Sick

10.

What can help protect you from financial loss?

a)

Risk

b)

Investment

c)

Insurance

11.

Risk is the possibility of what kind of event happening?

a)

Good

b)

Passive

c)

Bad

12.

Which of these is an example of a bank account?

a)

OPAY account

b)

Savings account

c)

Bank account

13.

After choosing a bank, what is the first step in opening an account?

a)

Fill out an application

b)

Deposit money

c)

Get account details

14.

Life insurance provides what type of support to the family of the deceased?

a)

Spiritual

b)

Moral

c)

Financial

15.

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

a)

Rate

b)

Interest

c)

Money

16.

What are things that are not necessary for survival?

a)

Needs

b)

Wants

c)

Survival

17.

What do you insert in an ATM to withdraw money?

a)

Card

b)

Puzzle

c)

USB

18.

What should we always try to limit?

a)

Needs

b)

Wants

c)

Survival

19.

Is it true that passive income is free money?

a)

True

b)

Not sure

c)

False

20.

Which of the following is an example of a need?

a)

Food

b)

Toys

c)

Pizza