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Financial literacy Quiz Flashcards | StudBud
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Financial literacy Quiz
Financial literacy Quiz
25 terms
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StudBud Administration
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Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
What should you do before making a big purchase?
Close your eyes and pick
Borrow money without thinking
Ask your parents
Compare prices and check your budget
2
What is credit?
the money you spend on things
borrowed money to buy something now and promise to pay it back later
the money you earn or receive
the money you owe because you borrowed it
3
What is an example of a need?
cell phone
water
candy
video games
4
What is debt?
the money you earn or receive
the money you owe because you borrowed it
borrowed money to buy something now and promise to pay it back later
the money you spend on things
5
What is the final cost plus tax for an item that is $5.99
$6.89
$6.76
$6.77
$6.88
6
How do you calculate tax?
Cost x 10%
Cost x 15%
Cost x 1.15
Cost x 1.13
7
What is an example of a want?
water
cell phone
food
medicine
8
A higher price always means better quality.
False
True
9
What is wrong with this price: $5.297
Should only have 2 decimals
Its not rounded to the nearest 5 cent
The dollar sign is in the wrong spot
Nothing at all
10
$4.57 gets rounded to...
$4.55
$4.65
$4.50
$4.60
11
It is important to understand financial literacy.
False
True
12
Do you feel you have learned a thing or two about financial literacy?
I feel somewhat confident
Yes! I feel like I learned a lot
Maybe a little
No, not at all
13
Borrowing money always means you will pay interest.
False
True
14
If the number in the hundredth column is a 7, it would round up to the next 10
False
True
15
What is Income?
the money you spend on things
the money you owe because you borrowed it
the money you earn or receive
borrowed money to buy something now and promise to pay it back later
16
Debit cards use money from your own bank account.
False
True
17
Tax is added to everything you buy.
False
True
18
Why is it important to budget?
To make more debt
To guess how much things cost
To keep track of spending and saving
To waste money
19
$4.51 + $2.36
$5.72
$7.87
$8.27
$6.87
20
$2.89 + $2.45= (round to nearest 5 cent)
$4.35
$4.30
$5.35
$5.30
21
What is an expense?
borrowed money to buy something now and promise to pay it back later
the money you earn or receive
the money you owe because you borrowed it
the money you spend on things
22
How much money is pictured here?
$9.62
$9.60
$8.60
$8.62
23
There is more money in this picture than the last.
True
False
24
How much money is pictured here?
$5.40
$4.40
$6.45
$5.50
25
Debt can grow larger if you don’t make payments.
False
True
