WorksheetsFinancial Literacy Midterm Fall '25
Total questions: 13
Worksheet time: 3hrs 51mins
The cost of doing one thing instead of something else is...
(a)
What is another word for barter
(a)
What is Credit?
Respect
The fee you pay for living in a country, that goes to the government
Having a high credit score
A person’s trustworthiness, determined by
how well one pays their debts, or money they owe. Credibility.
What can a person's credit score be?
0-1,000,000
0, or between 580 and 850
0-580
580-850
What is an income statement (Check all answers that apply)
A financial document that expresses all of one’s income(s)
minus all of one’s expense(s) to find net income, or net loss.
A budgeting plan that show's needs (50%), wants (30%), and savings/investments (20%)
A medium of exchange
A snapshot of a person's financial health
Who invented dollar bills? (Be Specific)
[Bonus: In what time period?]
What is the difference between being wealthy and being rich?
(a)
Financial Literacy is the
(a)
What does it mean to mint?
To chew gum
To print or create money
To buy or sell stock
Another word for money
What is communalism?
What is the gold standard?
Nicholas has a business that pays him $10,000 per month. He also has a second business that earns him $2,766 per month. All of his socials earn him around $3,013 per month, and lastly, he earns $1,243 per month from his stock portfolio. He spends around $3,999 per month on his car. $7,000 per month on his house, and $3,000 for food, groceries, and small purchases for his family.
Passage 1:
What is Nicholas's net income or loss?
Passage 1:
What is a net loss?
Total expenses
When total expenses are more than total income
When total income is more than total expenses
Total income
Passage 1:
What is net income?
Total expenses
When total expenses are more than total income
When total income is more than total expenses
Total income
Passage 2:
What is Rama's total income and total expenses?
(YOU DO NOT HAVE TO FIND NET INCOME OR LOSS)
Passage 2:
What should be Rama's expenses if she used the 50/30/20 Rule?
Passage 2:
What is the 50/30/20 Rule
A budgeting strategy with 50% of money going to needs, 30% to wants, and 20% to savings/investments
A budgeting strategy with 50% of money going to wants, 30% to needs, and 20% to savings/investments
A budgeting strategy with 50% of money going to needs, 30% to savings/investments, and 20% to wants
6/7
Passage 3:
Please find the total amount of gold each person left with based on their barter equation:
(Remember PEMDAS)
Tega: 🏈x🏈+🏈+🐘x🐘+🦬x🦬+🦬+🦬=
Passage 3:
Please find the total amount of gold each person left with based on their barter equation:
(Remember PEMDAS)
Segun: 🏈+🏈+🏈+🏈+🏈+🏈+🐘x🐘x🦬-🦬=
Passage 3:
Please find the total amount of gold each person left with based on their barter equation:
(Remember PEMDAS)
Anu: 🏈+🏈x🐘+🐘+🐘x🦬+🦬x🦬=
Extra Credit: Create a Combine like terms equation, then solve it. (Make sure it's somewhat challenging. If it's too easy it will not get credit)
