stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Year 9 FINLIT SAVINGS Flashcards | StudBud
Explore
/
Year 9 FINLIT SAVINGS
Year 9 FINLIT SAVINGS
20 terms
·
StudBud Administration
·
24 plays
Financial literacy year 9 - SAVINGS topic
Flashcards
20 cards
F
Practice quiz
P
Host live
L
Questions
20
Answers
1
You can't opt out of KiwiSaver if you are in the scheme for more than 8 weeks
False
True
2
The name of the savings initiative of the Government to set you up for retirement
KiwiSaver
KiwiSpending
Government fund
Kiwibank
3
You can't join KiwiSaver if you are younger than 16 years
True
False
4
Name the bank account where you get little or no interest.
Fixed deposit
Savings
Cheque
Current
5
Which account will earn the most interest?
Current
Savings
Fixed deposit
6
If you move to another job you can't take KiwiSaver with you
False
True
7
The reward for Savings
Interest
Refund
Tax
No worries
8
If you have an arrangement to spend more money than what you have in your cheque account
Savings
Bank overdraft
Credit card
Loan
9
You can choose your provider for KiwiSaver
True
False
10
A bank account allowing you to easily withdraw your money
Fixed term
Current
Savings
11
Which one is a disadvantage of a term deposit account
savings grow faster
Earn interest
Higher interest rate
difficult to withdraw
12
KiwiSaver is a voluntary scheme
True
False
13
Which one is NOT a reason to save
Emergencies
No goals
Retirement
Financial security
14
Income not spent is called .......
Expense
Savings
deficit
Spending
15
You may never change your contribution rate for KiwiSaver
True
False
16
KiwiSaver: you can't touch your money till you are 65
False
True
17
Choose the incorrect answer - factors that influence the level of savings.
Interest rates
Culture
Income level
Gender
18
The minimum member's contribution is...
8%
4%
3%
2%
19
To save more you should cut on......
Non-essential expenses
Rent
Essential expenses
Luxuries
20
Best way to save ......
savings account
keep in pocket
piggy bank
