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finanancial literacy

Total questions: 19

Worksheet time: 38mins

Name
Class
Date
1.

the increase of an amount of money due to earned interest or dividends

a)

loans

b)

accrued interest

c)

compound interest

d)

time-value money

2.

A general and progressive increase in prices

a)

principal

b)

interest rate

c)

inflation

d)

compound interest

3.

the percentage of increase in the value of your savings from earned interest

a)

compound interest

b)

percentage rate

c)

budget

d)

rate of return

4.

The amount of money borrowed or invested

a)

interest rate

b)

principal

c)

compound interest

d)

interest rate

5.

interest earned on both the principal amount and any interest already earned

a)

inflation

b)

compound interest

c)

interest

d)

expense

6.

Five hundred dollars in readily available cash to be used only for an emergency; the goal of the First Foundation

a)

interest rate

b)

Emergency Fund

c)

compound interest

d)

large purchase

7.
Sales tax is __________ to the price
a)
subtracted
b)
added
c)
multiplied
d)
divided
8.
Kathy worked at the library for three months.  She earned $4,500.00 and must pay a total of 15% in taxes, which includes federal withholding, Medicare, and Social Security taxes.  What is her net pay?
a)
$3,825.00
b)
$3,875.00
c)
$4,825.00
d)
$5,175.00
9.

What is the amount of tax you pay on a $65 pair of shoes if the tax rate is 9%

a)

$5.40

b)

$74.00

c)

$70.85

d)

$5.85

10.

What is the total cost of a $70 necklace if the sales tax is 8%?

a)

$6.20

b)

$5.60

c)

$56

d)

$75.40

11.

The amount of money a person takes home after taxes and other deductions.

a)

net income

b)

gross income

12.

________ is an example of goods.

a)

Teaching

b)

Doctor

c)

Bus to School

d)

Bag

13.

A Service is a ______ you pay someone else to do.

a)

Goods

b)

Gift

c)

Money

d)

Job

14.

________ is something how much the buyer pay for goods and services.

a)

Money

b)

Effort

c)

Attention

d)

Price

15.

First use of paper money happened in________.

a)

India

b)

Sri Lanka

c)

Namibia

d)

China

16.

_______ is an example of plastic money.

a)

Coinage

b)

Electronic Money

c)

Paper Money

d)

Credit card

17.

Miss. Smile is writing assignment, while writing her pencil's nip breaks. She asks her friend Miss. Pinto to give her a sharpener, in return Miss. smile promises her to give an eraser. What is this system of exchange known as?

a)

Money System

b)

Sharing System

c)

Paper Money System

d)

Barter system

18.

Using Money one can buy _________ & _________.

a)

Goods, emotion

b)

Goods, Pencil

c)

Teaching, Service

d)

Goods Services

19.

Money is also called as ________.

a)

Paper

b)

Bank

c)

Currency

d)

Vault