How important is it that you learn about managing money?

Somewhat important, Most important, Highly important, Not very important

What is a chequing account?

A bank account where a customer deposits money for use now.

How important is it to you to be wealthy?

Not important at all, Most important, Very important, Somewhat important

If someone gave you $100 as a gift, how likely are you to save at least 25% ($25)?

Somewhat likely, Highly likely, Not likely at all, Most likely

An outline of your plan for spending and saving.

A financial institution where money is kept.

Thinking back to The Avengers yesterday, why does everyone need to create and follow budgets?

Otherwise they can get into financial trouble.

What does the term "gross pay" mean?

The money earned is expressed as an amount before deductions

What is a savings account?

An account with money you keep for future use (interest).

What is a credit card?

A card entitling the owner to use funds from the bank.

What is a line of credit?

An agreement between a bank and individual to provide a loan

How likely would you budget your money if you had a job?

Highly likely, Most likely, Somewhat likely, Not likely at all

How likely is it that money will play an important role in your career choices?

Not likely, Highly likely, Somewhat likely, Most likely

What is a debit card?

This allows the owner to make withdrawals from their account

What does the term "net pay" mean?

The money earned after deductions.

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Financial Literacy

20 termsStudBud Administration36 plays

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Questions 20

Answers

1
How important is it that you learn about managing money?
Somewhat important
Most important
Highly important
Not very important
2
Thinking back yesterday to The Avengers, how much of Black Widow's budget is for necessities?
50%
40%
30%
20%
3
What is a chequing account?
An account with money you keep for future use.
A bank account where a customer deposits money for use now.
A bank account that limits how long you can keep your money.
An account that keeps 'chequing' on your social media status
4
How important is it to you to be wealthy?
Not important at all
Most important
Very important
Somewhat important
5
If someone gave you $100 as a gift, how likely are you to save at least 25% ($25)?
Somewhat likely
Highly likely
Not likely at all
Most likely
6
What is interest?
Sums paid for the investment of money.
All of the above
A trap that can see people pay interest as high as 19.99%.
Money that is paid in exchange for borrowing money.
7
What is a budget?
A big waste of time with no real value.
Another term for loan.
An outline of your plan for spending and saving.
An account that can be added to your bank account.
8
What is a bank?
A place where money is printed.
A financial institution where money is kept.
A place located next to a McDonald's.
A place where teens spend most of their free time.
9
Thinking back to The Avengers yesterday, why does everyone need to create and follow budgets?
They don't. In fact, a budget is a terrible idea.
A budget is another form of a loan from the bank.
Otherwise they can get into financial trouble.
Budgets should only be followed if you are rich.
10
What will the minimum wage in Ontario become as of October 2017?
$11.30
$11.50
$11.40
$11.60
11
What does the term "gross pay" mean?
The money earned is expressed as an amount after deductions.
The money earned for working only a part-time shift.
The money earned for completing a task that is gross.
The money earned is expressed as an amount before deductions
12
What is a savings account?
The piggy bank on your bedroom dresser.
An account with money you keep for future use (interest).
The money you lend to your brother or sister.
A box found under your bed.
13
What is a credit card?
A good way for people to spend money whenever they want.
A card that is intended to help people save their own money.
A card entitling the owner to use funds from the bank.
A piece of plastic that allows the user to spend their money
14
What is a line of credit?
It's like finding free money on the sidewalk.
Allows an individual to spend endless amounts of money.
Asking your parents for money to buy the latest PS4 game.
An agreement between a bank and individual to provide a loan
15
How likely would you budget your money if you had a job?
Highly likely
Most likely
Somewhat likely
Not likely at all
16
What services does a bank provide?
Providing loans
Chequing accounts
All of the above
Savings accounts
17
How likely is it that money will play an important role in your career choices?
Not likely
Highly likely
Somewhat likely
Most likely
18
What is a debit card?
Works the same as a credit card.
Once used, the holder is automatically plunged into debt.
A card that provides the holder with limitless cash.
This allows the owner to make withdrawals from their account
19
What is the current student minimum wage in Ontario?
$10.60
$10.80
$10.70
$10.90
20
What does the term "net pay" mean?
The money you earn for knitting nets.
The money you earn for working a part-time job.
The money earned after deductions.
The money earned is expressed as an amount before deductions

Financial Literacy Flashcards | StudBud