stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
financial literacy quiz Flashcards | StudBud
Explore
/
financial literacy quiz
financial literacy quiz
13 terms
·
StudBud Administration
·
135 plays
Let this quiz inspire your own quiz for formative assessment.
Flashcards
13 cards
F
Practice quiz
P
Host live
L
Questions
13
Answers
1
Goods are actions or activities that one person performs for another.
True
False
2
Someone who purchases goods and services for personal use
Cash
Clerk
Consumer
Interest
3
Currency is money.
False
True
4
Two advantages of using cash to pay for goods and/or services are
Cash is rarely stolen or lost and cash is the way most employers pay people
Cash can carry germs and cash can be easily lost
Most online stories do not accept cash and cash can get lost in the mail
Most stores accept cash, and there are no transaction fees for using cash
5
Select One ADVANTAGE of using a CHECK to pay for goods and/or services.
A check can't be used to prove that a payment was made.
If you write a check for more than what's in your account, you pay a fee.
Some stores do not accept checks.
If a payment has to be mailed, sending a check is safer than sending cash.
6
Income is an arrangement to receive cash, goods, or services now and pay for them in the future.
False
True
7
Choose one disadvantage for using a debit card to pay for goods or services
You can spend more than what's in your account and not get charged a fee
Debit cards are convenient and easy to use
Most stores accept debit cards
You could overspend from what is in your account and get charged a fee
8
Car insurance is a contract between you and the insurance company to protect you from financial loss from an accident.
True
False
9
Which of the following is a disadvantage of using a credit card to pay for goods and services
Credit cards can be used to help in emergencies
If you pay the credit card bill in full, you pay no interest
Credit cards can be used to shop online
If only part of the balance is paid, you pay interest on the rest
10
Money received, usually on a regular basis, for work or from investments
spending
interest
credit
income
11
A card that lets the holder withdraw money or have the cost of purchases charged to the holder's bank account
Debit card
Cash
Credit card
Check
12
Goods are ...
Activities provided by other people that satisfy your needs and wants
Used to make online purchases
Proof that payment was made
Items purchased to satisfy needs and wants
13
A sum paid or charged for the use of money or for borrowing money
Account
Credit
Interest
Investment
