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Financial literacy
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#Financial literacy facts
Flashcards
27 cards
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Practice quiz
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Questions
27
Answers
1
What is the name of the website that helps you with financial issues?
moneymoney
moneysmart
smartmoney
smartdollars
2
What type of card is safer?
credit card
debit card
3
When are you supposed to have your tax return into the ATO?
2nd November
5th May
4th July
31st October
4
How many weeks in a year?
52
56
32
6
5
Which of the following receipts are assessable income?
Tool allowance
Christmas gift of $100 from your uncle
Lotto win
Christmas bonus paid by your boss
6
The good thing about a budget is that you only have to do it once.
False
True
7
How many days in a year?
370
360
365
265
8
What age must you be to vote?
16
35
21
18
9
Which of the following statements about budgeting is incorrect?
A well-constructed budget is specific to a person's needs.
Budgeting is a good idea but too hard to do
You need to identify all your expenses accurately.
What you get to save is decided by what is left over.
10
Which is the best way to get credit?
Go to a payday lender
Use a credit card
Rob a bank
Use a debit card
11
What does 'annually' mean?
yearly
quarterly
weekly
monthly
12
How many months in a Quarter?
24
12
2
3
13
What do you need to get your car registered in NSW?
Comprehensive insurance
Your CTP insurance payment receipt
A bank statement
A tree
14
How many weeks in a fortnight?
2
3
6
8
15
When does a financial year end?
July 1st
December 1st
June 30th
January 3rd
16
How many weeks in a Quarter?
6 weeks
1 week
12 weeks
20 weeks
17
Which of these items are covered by Content's insurance?
clothing, house, windows
windows, TV, carpet
TV, clothing, car
clothing, TV, jewellery
18
What does TFN stand for?
Towards Future Nails
Toe For Number
Tuff Furry Nut
Tax File Number
19
How many months in a year?
24
6
8
12
20
Where do you find your bank account number?
On your debit card
On your bank phone APP
On your bank statement
On your pillow
21
What does Home insurance cover?
your home, garage, windows
clothing, washing machine, kayak
home, garage, jewellery
clothing, jewellery, washing machine
22
Which of the following expenditures are deductible? You can select more than one response.
Cost of a $45 haircut because your boss asked you to get one
The cost of making your lunch at home to take to work
A multimeter used by an electrical apprentice costing $270
Full cost of a welder costing $1400 for a welding apprentice
23
A debit card lets you use someone else's money to buy things, which you pay back later.
false
true
24
Which is better - simple interest or compound interest?
Simple interest
Compound interest
25
How much must you earn a month before your employer must start paying your 9% compulsory Super?
$450 a month
$500
$600 a month
$200
26
When does the financial year start?
December 25th
July 1st
June 30th
October 31st
27
What does the acronym 'ATO' mean?
Australian Taxation Office
Australian Trade Organisation
Australian TAFE Operation
Austrian Topdog Order
