WorksheetsFinancial Futures Quiz
Total questions: 15
Worksheet time: 8mins
What are the two main types of bank accounts?
Credit & Debit
Chequing & Investments
Savings & Loans
Chequing & Savings
A chequing account is mainly used for (choose all that apply):
Long term savings
Daily Spending
Paying everyday bills
Emergency fund
You need to be 15+ to open any kind of bank account in Canada
True
False
What type of fee might you pay when you open an account?
Transaction Fee
Grocery Fee
Interest Fee
When you use a debit card, the money comes directly from your bank account.
True
False
Which situation describes using a credit card?
You withdraw $20 from an ATM
You tap your card and the money leaves instantly
You pay now and get a bill later from the bank
You pay in cash at the store
If you don't pay your full credit card balance, what happens?
It disappears
You get charged interest
The bank gives you points
Nothing happens
In the 50/30/20 rule, what does 30% represent?
Needs
Savings
Investments
Wants
You’re saving to buy a car next year. Which account should you keep that money in?
Chequing
Savings
Credit
Investments
It’s okay to spend more than your credit limit as long as you pay it back later.
True
False
What’s one habit that helps you build a high credit score?
Making payments on time
Ignoring bills
Using 100% of your credit limit
Taking out many loans
A low credit score can help you get lower interest rates on loans
True
False
What is another word for the credit card payment due in 21 days
Interest Period
Money Period
Grace Period
Why should you build an emergency fund?
To earn more interest on your bank account
To be prepared for unexpected expenses
To spend more freely
To pay monthly subscriptions
What has been your favourite part of the session?
Learning!
Playing the games!
Other
