What does it mean to buy something on credit?

That you buy something with money you have borrowed

The amount of salary you receive after (tax) deductions

A consumption tax added to most goods/services

When you borrow money, what do you need to pay every billing period during the loan?

The total of interest costs + repayments to reduce your debt

What does inflation mean?

Sustained price increases - lead to decreased value of money

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European Money Quiz - Engelstalig - Quiz 1: Financial Literacy

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A quiz about #FinancialLiteracy for preparation of the #EuropeanMoneyQuiz

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Questions 10

Answers

1
Which statement about dividend from stocks is true?
You only receive dividend from stocks after 10 years
You never receive dividend from stocks
Dividend from stocks can vary
Dividend from stocks is always the same
2
What does it mean to buy something on credit?
That you buy something with only your own money
That you insure something you bought
That you get an extra discount
That you buy something with money you have borrowed
3
What is net salary?
The amount of salary you receive after (tax) deductions
The difference between personal income and taxable income
The difference between net income and taxable income
The salary that an employee earns before (tax) deductions
4
Which expenditure should receive the highest priority?
Netflix subscription
Rent payments
Paying for your new iPhone X
Buying new furniture
5
What is VAT?
A consumption tax added to most goods/services
A consumption tax for goods when it has a value of €100
A consumption tax for soda and candy, because it's unhealthy
A monster in Narnia
6
How high are interest rates on money you put into a savings account at a bank at the moment?
They are very low
Interest on a savings account at a bank is impossible
They are relatively high
They have never been higher
7
What do you call your income after tax has been deduced?
Disposable or net income
Available income
Taxable income
Gross income
8
When you borrow money, what do you need to pay every billing period during the loan?
Repayments to reduce your debt
You don’t have to pay anything, because you have no money
The total of interest costs + repayments to reduce your debt
Interest costs
9
If you earn €9,50 per hour, and you work 40 hours per week, what is your monthly salary?
€308
€1.500
€380
€1.520
10
What does inflation mean?
Sustained price decreases - lead to increased value of money
That you have to pay in cash
Prices decrease
Sustained price increases - lead to decreased value of money

European Money Quiz - Engelstalig - Quiz 1: Financial Literacy Flashcards | StudBud