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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Answers
1
11. What does
"money in=money out"
mean?
ATM transactions
Spending all of your money
Donating all of your money to charity
Spending equals what you have saved
2
10. What is an
IMPULSE Spender
?
Buying items for others
Buying items you have saved for
Buying items without thinking it through
Buying items using devit
3
9. What is the
52-Wk High
?
The price of the stock in the future
The highest price of a stock in a year
The price of the stock in 52 weeks
The price of the stock today
4
8. What is this a picture of?
Covid cases
The weather today
A student's grades
A stock price
5
12. What is
NOT
a
strategy
for managing your money?
Use a Credit Card when you have no money
Watch out for misleading advertising
Don't give in to peer pressure
Plan what you want to buy
6
13. What is a
CON
of
credit cards
?
They charge interest payments if you don't pay the amount
They force you to save
They let you buy items right away
7
6. What is the HST on a purchase of $55.00?
55 - 13
55.00 x .13
55.00 x .18
55 ÷ .13
8
2. How much do people in Ontario pay for HST?
18 percent
8 percent
14 percent
13 percent
9
5. What is a
STOCK
?
Online currency
A kind of bank account
A share of a company
10
17. If a credit card company charges you
25% interest
on a $100 purchase, what does this mean?
.25 x 100
.25 ÷ 100
25 ÷ 100
25 x 100
11
3. The HST Sales Tax goes to
which
level(s) of government
?
Municipal and Federal
Provincial and Municipal
Provincial and Federal
Federal only
12
15. What is
NOT
a
PRO
of having a children's savings account?
It teaches children how to save
It gives you interest on your money
It is safer than a pickle jar under your bed
It has extra charges
13
16. Real estate is a type of investment.
True
False
14
1. What is INVESTING?
Buying a piece of a company
Trying to make more money
All of the above
Watching the Stock Market
15
14. Your bank offers you
.03%
on your savings. This means...
You pay this amount
The bank gives you this amount
16
7. Which is a
LOAN
?
An investment
A debit
Interest
A credit card
17
4. What does the
10
represent in the 30-30-30-10 Saving Plan?
10 % to Charity
10% to your Savings
10% to your Parents
10% to Investments
