Savings Investing Budgeting Spending Habits General Knowledge (hint: YouthinFinance ig)
100
18 years old
How old do you have to be to open a savings account?
100
TFSA
What is a bank account you can use to invest without paying interest on your gains?
100
C: rent
Which of these are a fixed expense?
A: cellphone bill
B: electricity bill
C: rent
D: gasoline
100
Expenses
What is the term used to describe the items you spend your money on?
100
credit and debit
The two most common types of cards are ____ and ____.
200
Principle
The name of the original amount of money deposited in an account?
200
C: Shares of stock
What “unit” do you buy in order to be an owner of a stock?
A: Stockholder’s unit
B: Stock
C: Shares of stock
D: Owned shares
200
A: gross income
What is the name of an individual’s income before taxes are paid?
A: gross income
B: Net income
C: premium income
D: contract income
200
Fixed or variable
Name one of the two types of expenses.
200
Open a bank account, open a savings account, file a tax return
What are 3 things you should do when you turn 18?
300
B: Account holder wrote check for more money than what they have in their account
What causes a check to bounce?
A: Someone added too much $ to their checking account
B: Account holder wrote a check for more money than what they have in their account
C: There is a higher interest rate
D: There is low interest rate
300
B: Simple and compound interests
What are the two types of interest used by banks in calculating investment profits?
A: Additive and multiplicative interests
B: Simple and compound interests
C: Simple and concrete interests
D: Sample and compound interests
300
50-30-20 rule
What is the most common type of budgeting rule promoted?
300
impulse purchase
What is it called when someone buys something without planning to in advance?
300
Tax Free Savings Account
What does TFSA stand for?
400
1. Social security number
2. ID with picture
What two things are required for a savings account?
400
Limit order
What is the type of order that is only executed if a specific price can be obtained?
400
A: 10%
Your budgeting plan should have saved you at least this percentage of your money:
A: 10%
B: 15%
C: 12%
D: 20%
400
C: Credit card
This enables a person to buy things without having to bring actual money to the counter, which they later on pay.
A: Investment card
B: Loans
C: Credit card
D: Budget leftovers
400
Revolving credit, installment credit, open credit
What are the three types of credit?
500
6 months worth
How much money should you have saved in an emergency fund (in terms of time)?
500
Diversification
“Don't put all your eggs in one basket" is an example of _____.
500
B: Cash culprits
These are costs that can easily be eliminated but are not, and destroy the budget plan.
A: Cash robbers
B: Cash culprits
C: Cash takers
D: Shopping spree-fever
500
realistic
Every spending plan should be ____.
500
35%
How much does your payment history affect your credit score?






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