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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
20 terms
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#financial literacy #consumer awareness #banking #key terms
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
When shopping online you should always:
only use secure sites with a padlock and https:// in the URL
buy the cheapest item you can find
pay by transferring cash to the seller's account
open up all the 'pop up' windows before buying the item
2
Kim sells Khloe a dress via ebay but when it arrives it doesn't look like the photo Kim posted
Kim is not legally required to return Khloe's money
Kim must send an apology to Khloe
Kim could be fined if she doesn't refund Khloe's money.
Kim must return Khloe's money
3
What type of advertising is best being displayed in this image?
celebrity endorsement
product placement
cross promotion
Kids only
4
A card that only allows you to withdraw money that you already have in your account is called:
A gift card
A 'Coles Myer' card
A debit card
A credit card
5
When shopping online costs like postage, delivery fees and currency conversion are:
always paid for by the seller
additional costs the buyer will have to pay
fully refundable if you have to return the item
always included in the advertised price
6
A part of your salary/wage paid into a special account that cannot be spent until you retire.
GST (goods and services tax)
income tax
wages or salary
superannuation
7
Money paid to a bank in return for being granted a loan is called:
dividend
cash
interest
bonus
8
A person who is unable to repay the money they have borrowed is called:
a loser
a debtor
an investor
a bankrupt
9
A personal identification number used with a card to get money from ATMs is called a:
a PIN
an ACCC
an ABC
an EFTPOS
10
A fee (approx $2 - 3) you pay when buying items using electronic funds transfer is called:
a goods and service tax
rates
an EFTPOS fee
interest
11
Having a cash budget deficit means that, in a given period, you plan to:
work less and earn less money
spend more cash than you receive
spend the same amount of cash as you receive
receive more cash than you spend
12
A card that allows you spend more money than you have in your account is called:
a Learner's permit
a gift card
a credit card
a debit card
13
Which of the following is best for everyday banking transactions and keeping your money safe?
a transaction account
a savings account
a credit card
a term deposit
14
A plan of expected cash receipts and cash payments for a given period of time is called:
Debt
a bank statement
a financial statement
a cash budget
15
What type of marketing is being used in this advertisement?
cross promotion
kids only
celebrity endorsement
product placement
16
An account where you promise not to withdraw your money for a given set period is called:
a savings account
a term deposit
a locked account
a transaction account
17
Promoting a product by having it appear in films, TV shows etc. is called:
Celebrity endorsement
False advertising
Cross promotion
Product placement
18
When shopping online you should:
keep your browser open until you get a confirmation email
spend as much money as you can
give your account and PIN number whenever requested
close your browser as soon as you have finished buying
19
If you have a problem with an item you have brought online you should firstly
contact the seller
contact Consumer Affairs Victoria
ring the police
tell your form teacher
20
Money earned by an individual (e.g. pocket money & wages) is called:
savings
income
cash received
deposit
