Financial literacy test review

Question 1

What is the correct definition of a debit card?

Accepted Answer

A card linked to your bank acct that takes money out immediately

Question 2

What is a card with a preloaded amount of money that can be used only at specific stores?

Accepted Answer

Gift Card

Question 3

What does it mean to donate money?

Accepted Answer

To give money or services to help others

Question 4

What should you look at to know if the product is worth buying?

Accepted Answer

The Price, Reviews, Who makes the product, Return Policy

Question 5

How much money does the 4 represent in 10.40?

Accepted Answer

40 cents

Question 6

What is a cheque?

Accepted Answer

A signed piece of paper that transfers money from a bank acct to a person

Question 7

How many dollars is 300 cents?

Accepted Answer

$3

Question 8

Which term would describe buying stock in Apple?

Accepted Answer

Investing

Question 9

Which term describes a digital way to send money from one person to another?

Accepted Answer

EMT (electronic money transfer)

Question 10

Why is it important to save money?

Accepted Answer

To have money for your needs and emergencies

Question 11

How many dimes are in 160 cents?

Accepted Answer

6

Question 12

How many cents are in $1?

Accepted Answer

100

Question 13

What should you consider when making a purchase?

Accepted Answer

The quality of the product

Question 14

How many dollars are in 2890 cents?

Accepted Answer

$28

Question 15

Which of these is an example of "saving"?

Accepted Answer

Putting money away to buy something later

Question 16

What is 150 cents in dollars?

Accepted Answer

$1.50

Questions 16