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Money Week. Financial Capability Flashcards | StudBud
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Money Week. Financial Capability
Money Week. Financial Capability
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A quiz about the Basics of Money in NZ. How it works and how we can be smart financially. #moneweek
Flashcards
20 cards
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Questions
20
Answers
1
What is inflation?
The general rise in prices of goods andservices over time
when fruit and veges get cheaper in some seasons
When you blow up a balloon
When goods and services get cheaper
2
Which one of the following is not a way you can buy something now and pay it off over time?
Credit Card
Store Credit
Layby
Hire Purchase
3
What is interest?
additional money you are paid when you save money.
additional money you pay when you borrow money.
A fun fact that you find interesting.
Both B & C
4
What is New Zealand's largest Bank?
ANZ
KiwiBank
BNZ
Westpac
5
Approximately what is the median annual income in NZ?
$72,000
$26,000
$41,000
$60,000
6
How much does it cost to make one $20 note?
$1.08
1.08 cents
$10.80
10.8 cents
7
Which tax provides the Government with the most money?
Personal Income Tax
GST
Company Tax
Capital Gains Tax
8
What does IRD stand for?
Institute of Retained Drawings
Institution of Recurring Debt
Inland Revenue Department
Inland Refund Department
9
What is KiwiSaver?
A retirement savings scheme set up by the Government
A special bank account that can win you money
A Kiwi shaped piggy bank
A special bank account that pays interest
10
What is one benefit of a Credit Card?
You can buy now and pay later
It is cheaper than buying with cash
you do not get charged any fees or interest
You can spend money you don't have
11
Who is on the NZ $50 note?
Apirana Ngata
The Queen
Kate Separd
Sir Edmond Hilary
12
What sector does the government spend the most on?
Education
Welfare
Health
Defence
13
Who is the current Finance Minister for New Zealand?
Bill English
Amy Adams
Jacinda Ardern
Grant Robertson
14
Who controls the printing of money in New Zealand?
The Reserve Bank
IRD
Treasuary
Parliament
15
Who is the current Commissioner for Financial Capability for New Zealand
Peter Griffin
Judith Collins
Diane Maxwell
John Key
16
What type of Tax is the Auckland Council considering at the moment?
Footpath Tax
Window Tax
Toilet Tax
Petrol Tax
17
What does the IRD do?
The are a debt collection agency
Survey Farmers to make sure they are not breaking any laws
Collects Tax on behalf of the Government
Organize and distribute student loans
18
What is the minimum amount you can contribute to KiwiSaver once you have signed up?
3%
2%
1%
4%
19
What does GST stand for?
Goods and Services Tax
General Sales Tax
Good Sorts Tax
Government Service Tax
20
What is not a disadvantage of a Credit Card?
You get charged interest and fees
The Card details can easily be copied and you can be robbed
You can earn rewards points on some cards
it can cost a lot more and be hard to pay off
