Financial Literacy Grade 6

Give 2 examples of GOODS and 2 examples of SERVICES.

Which method of payment is best for in emergencies?

(a)  

Name 2 methods of payment where a drawback of using them includes fraud.

Which method of payment typically offers incentives like cash back or rewards?

(a)  

You are at Wal-Mart buying school supplies.

Name 1 payment you could use and why it is a good idea.

Name 1 payment you can NOT use and why it would be inconvenient or impossible.

In your own words, explain the difference between a donation and an investment.

Which of the following is NOT a financial institution:

• Bank

• Insurance Company

• Stock Market

• Credit Union

Name 3 services a bank can provide:

"Giving money to a person or organization with the expectation that it will be repaid."

This is:

• trading

• donating

• borrowing

• lending

Jessica's doesn't have enough money for the second hand car she needs. He dad purchases the car and has Jessica pay him back slowly over the year. This is an example of:

• borrowing

• insurance

• saving

• trading