WorksheetsFinancial Literacy Quiz
Total questions: 15
Worksheet time: 11mins
What is the management of an individual's or family's money and financial decisions called?
Savings
Spending
Personal Finance
Investing
What term describes money set aside for future use or emergencies?
Borrowing
Savings
Taxes
Credit
What is the act of using money to buy goods or services?
Investing
Budgeting
Spending
Giving
What is the ability to borrow money or access goods or services with the understanding that you'll pay later?
Investing
Credit
Budgeting
Giving
What is taking money with the promise to repay it, often with interest, called?
Borrowing
Spending
Saving
Investing
Which of the following is an example of taxes?
Sales tax added to purchases
Donating to a local food bank
Putting money into a savings account
Borrowing money from a bank
Which of the following is an example of borrowing?
Getting a loan from a bank to buy a car
Donating money to a charity
Planning a monthly budget
Buying stocks in a company
What term describes a specific plan or aim for how you want to use or manage your money?
Interest
Economic Impact
Financial Goal
Debt
What term describes the system of production, distribution, and consumption of goods and services within a country or region?
Economy
Debt
Financial Goal
Interest
Which of the following is an example of an economic impact?
Saving $500 for car repairs
Increased local shopping leading to more jobs
Paying an extra 5% on a loan
Owing money on a credit card
Which of the following is an example of an emergency fund?
Saving $1000 for a new computer
Paying off a credit card
Saving $500 for unexpected car repairs
Investing in stocks
Which of the following is an example of a financial goal?
Saving $1000 for a new computer
Paying an extra 5% on a loan
The total of all business activity
Money owed to another person
Which of the following is an example of interest?
The total of all business activity
Paying an extra 5% on a loan
Money saved for unexpected expenses
A specific plan for managing money
Understanding financial terms can help you make better financial decisions and understand what?
The bigger economic picture
How to save money
The importance of loans
How to increase debt
What is the purpose of an emergency fund?
To cover unexpected expenses
To pay off loans
To invest in stocks
To increase debt
