What is gross salary?

The salary that an employee earns before (tax) deductions

What does it mean to buy something on credit?

That you buy something with money you have borrowed

A consumption tax added to most goods/services

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

What does inflation mean?

Sustained price increases - lead to decreased value of money

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Stevenage SDA Church Money Quiz - Game 1: Financial Literacy

10 termsStudBud Administration1 play

A quiz about #FinancialLiteracy for preparation of the #EuropeanMoneyQuiz

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Questions 10

Answers

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

Stevenage SDA Church Money Quiz - Game 1: Financial Literacy Flashcards | StudBud