What does inflation mean?

Sustained price increases - lead to decreased value of money

What is gross salary?

The salary that an employee earns before (tax) deductions

A consumption tax added to most goods/services

What does it mean to buy something on credit?

That you buy something with money you have borrowed

When you borrow money, what do you need to pay every billing period during the loan?

The total of interest costs + repayments to reduce your debt

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European Money Quiz - Practice 1: Financial Literacy

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A quiz about #FinancialLiteracy for preparation of the #EuropeanMoneyQuiz

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Questions 10

Answers

1
What does inflation mean?
That you have to pay in cash
Sustained price increases - lead to decreased value of money
Sustained price decreases - lead to increased value of money
Prices decrease
2
What do you call your income after tax has been deduced?
Available income
Taxable income
Disposable or net income
Gross income
3
How high are interest rates on money you put into a savings account at a bank at the moment?
Interest on a savings account at a bank is impossible
They have never been higher
They are very low
They are relatively high
4
What is gross salary?
The difference between net income and taxable income
The salary that an employee earns before (tax) deductions
The difference between personal income and taxable income
The amount of salary you actually receive
5
What is VAT?
A monster in Narnia
A consumption tax for goods when it has a value of €100
A consumption tax for soda and candy, because it's unhealthy
A consumption tax added to most goods/services
6
Which statement about dividend from stocks is true?
You only receive dividend from stocks after 10 years
Dividend from stocks is always the same
Dividend from stocks can vary
You never receive dividend from stocks
7
If you earn €9,50 per hour, and you work 40 hours per week, what is your monthly salary?
€1.520
€380
€1.500
€308
8
Which expenditure should receive the highest priority?
Paying for your new iPhone X
Netflix subscription
Rent payments
Buying new furniture
9
What does it mean to buy something on credit?
That you insure something you bought
That you buy something with only your own money
That you buy something with money you have borrowed
That you get an extra discount
10
When you borrow money, what do you need to pay every billing period during the loan?
Repayments to reduce your debt
The total of interest costs + repayments to reduce your debt
Interest costs
You don’t have to pay anything, because you have no money

European Money Quiz - Practice 1: Financial Literacy Flashcards | StudBud