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Financial Literacy - Money Part I Flashcards | StudBud
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Financial Literacy - Money Part I
Financial Literacy - Money Part I
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Questions
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Answers
1
Money is not backed by gold but by the faith in the general economy. This is the definition of:
Barter
Medium of Exchange
Fiat Money
Measure of Value
2
True OR False. A $1 bill has a longer life expectancy than a $100 bill.
False
True
3
You just exchanged a soda with you friend for a bag of chips. What is this known as?
Bartering
Sharing
Stealing
Selling
4
True or False. Currency is involved when you barter.
False
True
5
You gave money to the cashier to purchase a soda. This function of money is known as...
Store of Value
Store of Exchange
Measure of Value
Medium of Exchange
6
Which one of these is NOT a cashless form of payment?
Debit Card
Credit Card
$10 dollar bill
EFT
7
Which of the following is NOT a denomination of coins in the United States?
$.50
$.15
$.25
$.10
8
True of False. Coins are produced at the Mint.
False
True
9
What does EFT stand for?
Electronic Funds Transfer
Electronic Future Twins
Electronic Finance Transfer
Excellent Fun Times
10
Which of these is NOT a characteristic of money?
Easy to Carry
Green
Divisible
Durable
11
Which of the following is NOT a job of the US Treasury?
Make financial decisions for the President
Run the Bureau of Engraving & Printing
Run the Mint
Collect Federal Taxes
12
Money can be saved and used in the future. This function of money is known as...
Medium of Exchange
Measure of Value
Store of Value
Measure of Exchange
13
Purchases made with your debit card are deducted from your...
Stock Market
Money Market Account
Checking Account
Savings Account
14
After money leaves the Bureau of Engraving & Printing, where does it go?
The People
Chase Bank
The President
The Federal Reserve Banks
15
Money is printed at....
The Bureau of Engraving and Printing
The Bureau of Money
The Bureau of Printing
The Bureau of Currency
16
Which of the following is NOT a security feature on US currency?
Blue Ribbon
Color Shifting Ink
Watermark
Presidents Seal of Approval
17
How do you spell my name?
Corr
Korr
Core
Kore
18
How many Federal Reserve Banks are around the United States?
15
1
12
8
