Which debt should you try to pay back first?

The debt with the highest interest rate

What does it mean to buy something on credit?

You buy something and pay for it later

What is disposable income?

The amount of money you can spend after all expenses paid.

What is the purpose of the European Central Bank?

Keep prices stable and preserve purchasing power in the EU

What does bankruptcy mean?

When a person or company is not able to pay bills anymore

studbud

Colaiste Iosagain Money Quiz

15 termsStudBud Administration96 plays

Financial Literacy Quiz

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

1
What is a stock?
A debt certificate
A shareholding in a company
A special kind of savings account.
A Chinese boat
2
Which debt should you try to pay back first?
The debt with the lowest interest rate
The highest debt
The debt with the highest interest rate
The lowest debt
3
What does it mean to buy something on credit?
You buy something and pay for it later
You get a discount
You insure something that you bought
You buy something and pay in full immediately
4
You are saving €500 with an interest rate of 5% per year. When will your money be doubled?
After 10 years
At 12.5 years
After 20 years
At 15 years
5
You saved €500 with an interest rate of 2.5%. After 2 years, how much do you have?
€12.50
€25
€512.50
€525
6
What is disposable income?
Your salary
The amount of money you don't need to save.
The amount of money you can spend after all expenses paid.
The amount of money you can spend when mortgage is paid
7
What is the purpose of the European Central Bank?
To give out subsidies to agri businesses
Finance banks in Europe when they are almost bankrupt
Borrow Europeans money against reasonable interest rates
Keep prices stable and preserve purchasing power in the EU
8
Which country is NOT a member of the European Union?
Malta
Switzerland
United Kingdom
Croatia
9
I can have a PayPal account if I am under 18
True
False
10
What does bankruptcy mean?
A person or company owes money to another person or company
When a person or company is not able to pay bills anymore
A person or company is overdrawn on their bank account.
A person or company has no problem paying bills
11
What is 5/4 as a percent?
-80%
80%
120%
125%
12
In the age group 30-50, what stage of the Financial Life Cycle are you at?
Dependent Stage
Pre-retirement Stage
Development/Growth Stage
Independent Stage
13
You have €70 in your account. Every week you add €20. When will you have €5000?
In about 10 years
In about 4 years
In about 3 years
In about 5 years
14
Sarah makes 300 heart stents per week and earns €3 per stent. How much does she earn per year?
€48,600
€43,500
€45,500
€46,800
15
What do you call your income after tax has been deducted?
Available Income
Gross Pay/Income
Net Pay/Income
Taxable Pay/Income

Colaiste Iosagain Money Quiz Flashcards | StudBud