stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Financial Literacy Flashcards | StudBud
Explore
/
Financial Literacy
Financial Literacy
19 terms
·
StudBud Administration
·
32 plays
Life long financskills
Flashcards
19 cards
F
Practice quiz
P
Host live
L
Questions
19
Answers
1
What are some reasons for having a credit card?
To collect as many plastic cards as possible
To be able to spend a lot
to build up credit rating and accepted nearly everwhere
To purchase to your hearts content.
2
How many sick day do you receive in a year if you worked for an employer for 6 months?
14 days
5 days
10 days
A week
3
Who can join Kiwi saver?
All of the above
Only people with a job
Both kids and adults
NZ citizen or permanent residence
4
Trial periods are voluntary?
False
True
5
PAYE stands for
Pay as you enjoy
Pay as per your effort
Pay at your employer
Pay as you earn
6
What does IRD stands for?
Inland Revenue department
Income Revenue department
7
What is starting or employee in training minimum wage rate?
12.20
13.80
15.25
14.00
8
How many paid public holiday is an employer entitled for?
5 days
All the public holiday
10 days
7 days
9
What is the minimum wage rate?
$14.25
$15.25
$13.80
$12.20
10
What is difference between wages and salaries?
Salary and wages are the same thing.
Wages doesn't allow for overtime payment.
Wages is paid per hour and salary is fixed for a year.
Wages is fixed and salary is variable per hour based.
11
What percentage GST do you have to pay?
10%
12.5%
12%
15%
12
Identify the types of borrowings
Loan and bank overdraft
Interest rates and loans
Insurance and bank overdraft
Hire purchase and interest rates
13
By what rate, your employer and bank can deduct tax without an IRD number?
40%
45%
55%
50%
14
Both the employer and employee must contribute equally to Kiwi Saver!
False
True
15
An employee is not obliged to join Kiwisaver?
True
False
16
Why do we pay tax?
To ensure business man don't take all the profit.
So the PM can run the election.
To take advantage of all workers.
For government to provide us with important public services
17
Under Kiwi saver what is contributions holiday?
Taking your contributions for a planned vacation.
After a year in KiwiSaver you can take a break from saving
You can withdraw money for a holiday.
Employers not being able to pay.
18
What is an advantage of budgeting?
Will pay your rent
Helps to impulse buy
shows that you are smart
Allows you to save for a specific purpose
19
From when will you be entitled for PAID holiday!
After a year
After 3 months
After 6 months
As soon as you start work
