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Financial Literacy Mapua Flashcards | StudBud
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Financial Literacy Mapua
Financial Literacy Mapua
46 terms
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1
What are achievements?
Fines from school
Certificates, awards or prizes for doing something well
Missed deadlines
Homework results
2
What does withdrawal mean?
Giving money to charity
Earning interest on your savings
Taking money out of a bank account
Gaining profit from your business
3
What is an everyday account?
An account used only for holidays
A secret savings account
An account used for daily spending
A credit card account
4
What is disposable income?
Money spent on rent
Money you throw away
Earnings after income tax is deducted
The amount saved monthly
5
What are expenses in everyday life?
Gifts you receive
Bonus income from work
Tax refunds
Day-to-day items you spend money on
6
What is IRD in New Zealand?
A bank for kids
A savings app
A supermarket rewards card
Government department that collects taxes
7
What is a loan?
When money is borrowed from someone
A tax return
A bank fee
An investment
8
Who is the employee?
The bank manager
The customer
The person who hires workers
The person who gets paid for doing the work
9
What is a budget?
A savings account
A loan agreement
A shopping list
A tool for planning income and expenses
10
What is simple interest?
Interest earned on withdrawals
Interest that changes daily
Interest earned only on the principal
Interest earned only at the end of the year
11
What is a regular savings account?
An account for shopping
A bank account that earns interest on regular deposits
A credit account for emergencies
A loan you repay weekly
12
Who is a referee when applying for a job?
A person who would recommend you for a job
Someone who blows a whistle
Your sports coach only
Someone who writes job contracts
13
What does per annum mean?
Per month
Per year
Per day
Per week
14
What is debt?
When money is owed to someone
A bank reward
Extra income
Money that is saved
15
What is a budget surplus?
Income is less than expenses
Expenses are not recorded
Income is greater than expenses
You have no savings
16
What does budget balances mean?
Income is greater than expenses
More money is saved than spent
All income is spent on food
The income equals the expenses
17
What is interest in banking?
Money paid by the borrower as a reward to the lender
A penalty for late payments
Money given as a reward to the borrower
Extra money the bank gives you for shopping
18
What are wages?
Pay at an hourly rate
A yearly bonus
Money paid after tax only
Money paid once a year
19
What is the tax rate?
A type of bank fee
The ratio of money paid to IRD vs the money kept by the employee
The amount of tax refund
The price of goods
20
What is the principal in a bank account?
The fee the bank charges
The interest you earn
The total amount borrowed
The total amount deposited
21
What is a need in budgeting?
A luxury item
A birthday gift
An expense you have no or little choice in paying
An expense you choose
22
What is a CV (curriculum vitae)?
A letter of complaint
A payslip
Information about yourself you give to an employer
A document showing your school timetable
23
What is income tax?
Money earned from a business
A loan from the government
Money given to charity
A portion of pay paid to the government
24
What is a career?
A job that changes every week
A type of work you do for a long time
A short holiday job
A part-time hobby
25
Why might someone choose a regular savings account?
It earns interest on regular deposits
It charges extra fees
It helps them spend more
It reduces interest
26
What is profit?
A financial gain
A debt you owe
A fee charged by the bank
A type of expense
27
What are expenses?
Money going out
Money saved in the bank
Money earned from a job
Money given as a gift
28
What is a qualification?
A penalty for being late
A type of school uniform
A reward for completing a course, test or exam
A work uniform
29
What does previous experience mean?
The jobs your friends have had
The type of work you want in the future
Something you have heard about
The type of work you have done before
30
What is a salary?
Money paid per hour
A reward for good work
Money paid only during summer
A fixed amount paid for 52 weeks a year
31
Who is the borrower?
The person who borrows the money
The person who lends the money
The bank's customer service agent
The person giving advice
32
What is the term of a loan?
The amount of interest paid
A savings plan
A financial contract
The length of time the borrower has to repay the loan
33
What is compound interest?
Interest paid to the lender only
Interest added to taxes
Interest earned on the principal and any previous interest
Interest that is always the same
34
What does PAYE mean?
Payment for your education
Pay after every year
Income tax paid as you earn
Pay any extra expenses
35
What does per annum mean?
Per week
Per month
Per day
Per year
36
What is a salary?
Pay based on how many items you sell
Bonus pay for doing extra work
Pay given every day
Pay at an annual rate
37
Who is the employer?
The person who volunteers
The person who pays someone for doing work
The person who teaches at school
The person who gets paid for work
38
What is a budget deficit?
All your bills are paid
You have balanced your budget
Expenses are more than income
Income is greater than expenses
39
Who is the borrower?
A bank manager
A person who earns interest
The person who lends money
The person who takes out a loan
40
Who is a lender?
A bank manager
A person who borrows money
A cashier
A person who lends you money
41
What is a deposit?
Money you borrow
A type of savings account
Putting money into a bank account
Taking money out of a bank account
42
Who is the lender?
The person who opens a bank account
The person who lends money
The person who gives financial advice
The person who borrows money
43
What is income?
Money coming in
Money spent on food
Money paid to the government
Money going out
44
What are repayments?
Money paid at regular intervals to repay a loan
Extra savings
Money given to friends
Gifts from the bank
45
What is a want in budgeting?
A power bill
An expense you choose to incur
A tax refund
An expense you must pay
46
What is the principal of a loan?
The name of the lender
The total interest owed
The monthly repayment
The amount of money borrowed
