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WorksheetsFINANCIAL LITERACY
Total questions: 60
Worksheet time: 48mins
the ability to read, analyze, manage, and communicate about the personal financial conditions that affect material well-being.
Mandates DepEd to ensure that economic and financial education becomes an integral part of formal learning.
Republic Act 10923 Otherwise known as the Economic and Monetary Literacy Act
Republic Act 10922 Otherwise known as the Education and Financial Literacy Act
Republic Act 10923 Otherwise known as the Economic and Financial Literacy Act
Republic Act 10922 Otherwise known as the Economic and Financial Literacy Act
What term refers to a lack of budgeting, investing, borrowing, taxation, and personal financial management abilities?
Financial Literacy
Importance of Money
Financially Illiterate
Importance of Budgeting
It allows individuals to better allocate their income, resulting in financial security and prosperity
Importance of Money
Importance of Financial Literacy
Money-Saving Tips
Budgeting Rule
It helps create stable communities
Importance of Money
Importance of Financial Literacy
Money-Saving Tips
Budgeting Rule
Complete the following; Any improvement in financial literacy will have a profound impact on people and their ability to provide for their _______?
Wants
Needs
Future
Present
Banks, savings and loans, and credit unions are known as...
withdrawal
expenses
financial institutions
An expense that varies over time is called...
fixed expense
profit
variable expenses
When you put money into a bank account for safe keeping, you are making a ...
deposit
withdrawal
expenses
The amount of money that you have in your bank account is known as a ...
deposit
balance
withdrawal
An expense that does not change from month to month is called ...
variable expense
profit
fixed expense
The money that you keep after all costs and expenses are paid is called ...
balance
profit
financial institution
Electricity, gifts, and bike repairs are variable expenses.
True
False
The act of taking money out of a bank account is known as a ...
deposit
expenses
withdrawal
Amount of money spent on items needed is called an ...
expenses
variable expense
profit
Rent, insurance, car payment, and Netflix subscriptions are fixed expenses.
True
False
The longer the money is invested the better?
True
False
A type of savings that signifies that you own a part of a corporation and a claim to their assets and earnings.
Stock
Share
Dividend
none is correct
What are the three rules for staying out of poverty?
1. Don't graduate from high school.
2. Never have children
3. Have a side hustle.
1. Graduating from high school.
2. Have many children.
3. Having a fun job.
1. Graduating from college.
2. Get married as soon as you graduate high school.
3. Having a full-time job.
1. Graduating from high school.
2. Waiting to get married until after 21 and do not have children till after being married.
3. Having a full-time job.
Anything that is purchased with the hope that it will generate income or be more valuable at a future date.
investment
loan
income
expense
Which is not an example of charitable giving?
Donating money
Volunteering time
Going to work
Giving toys to kids in need at Christmas
Monica ran out of shirts to sell. Amazon did not have them either. This is an example of
supply
scarcity
demand
overspending
What is credit?
Receiving goods and services now and paying for them later
The process of depositing money into your savings the day you receive it so you have savings later
Having ownership of a company based on how many stocks you have bought
Accumulating money each month for emergencies
If managed properly, having credit can:
Decrease your credit score and allow you to purchase more on credit if you pay it back
Give you an edge over people who are applying for the same job as you
Allow you to receive discounts on hotels and travel
Increase your credit score and allow you to purchase items on credit
Investments are important to building:
For emergencies
For your future net worth
A trade-off to higher returns is lower liquidity and higher risk
Tax-advantaged investments
Money invested is usually used to pay to:
Achieve long-term goals
For emergencies
To purchase expensive items
To pay off loans
Which of these is not an example of property tax?
Tax paid on the value of a farm a person owns
Tax paid on the value of a piece of land a person owns
Tax paid on the value of a piece of furniture a person owns
Tax paid on the value of a home a person owns
You will go into (a) if you spend more money than you have.
Which of the following accurately describes a benefit gained by financial institutions from a credit report?
Provides a detailed report of a borrower's financial history
Increases the likelihood the lender can borrow money
Determines the power of the lender
Compare the borrowers' work in these financial institutions
Attending college will offer what benefits?
People with college degrees have problems looking for jobs.
Attending a college will guarantee you find a job that you will love.
People with college degrees are happier people.
People with college degrees generally earn more money over their lifetime.
Obtaining something you want with the understanding you'll pay for it later.
Credit
Debit
A percentage charged when you borrow money. Can also be an amount earned for saving money in a savings account.
interest
net pay
pay stub
transfer
A document that comes with your paycheck, showing how much you were paid and how much was withheld for taxes.
budget
transfer
pay stub
net pay
A deduction is
gross income
money added to your income
net income
money taken out of your income
Net income is:
the total amount of money you earn
the amount of money you receive after deductions are subtracted from your gross income
the amount of money that is taken away in the form of taxes
the hourly rate of pay
Which of these is NOT an example of property tax?
Tax paid on the value of a farm a person owns
Tax paid on the value of a piece of land a person owns
Tax paid on the value of a piece of furniture a person owns
Tax paid on the value of a home a person owns
