Quiz about financial literacy vocabulary

Question 1

Creating a plan for managing income and expenses to meet financial goals.

Accepted Answer

Budgeting

Answer

Investing

Answer

Saving

Answer

Credit Score

Question 2

Setting aside money for future use or emergencies.

Accepted Answer

Saving

Answer

Debt

Answer

Insurance

Answer

Income

Question 3

The process of setting aside funds and making financial decisions to ensure a comfortable retirement.

Accepted Answer

Retirement Planning

Answer

Entrepreneurship

Answer

Inflation

Answer

Mortgage

Question 4

A payment card that allows the cardholder to borrow funds from a financial institution to make purchases

Accepted Answer

Credit Card

Answer

Debit Card

Answer

Check

Answer

Cash

Question 5

Anything of value owned by an individual or entity, such as cash, property, or investments

Accepted Answer

Asset

Answer

Expense

Answer

Mortgage

Answer

Net Worth

Question 6

Money earned from various sources, such as employment, investments, or business activities.

Accepted Answer

Income

Answer

Debt

Answer

Expense

Answer

Asset

Question 7

A numerical representation of a person's creditworthiness, used by lenders to assess the likelihood of repayment.

Accepted Answer

Credit Score

Answer

Interest Rate

Answer

Debt

Answer

Insurance

Question 8

The percentage charged or earned on a loan or investment, usually expressed annually.

Accepted Answer

Interest Rate

Answer

Debt

Answer

Liability

Answer

Budgeting

Question 9

Money owed to lenders or creditors

Accepted Answer

debt

Answer

Income

Answer

expense

Answer

asset

Question 10

Allocating money into assets with the expectation of earning a profit or generating income over time.

Accepted Answer

Investing

Answer

Saving

Answer

Interest rate

Answer

Debt

Question 11

A contract that provides financial protection against certain risks or losses in exchange for payment of premiums.

Accepted Answer

Insurance

Answer

Expense

Answer

Liability

Answer

Asset

Question 12

Money spent on goods, services, or bills.

Accepted Answer

expense

Answer

Income

Answer

debt

Answer

insurance

Question 13

A loan used to finance the purchase of a property, with the property serving as collateral.

Accepted Answer

Mortgage

Answer

Net Worth

Answer

Inflation

Answer

Credit Card

Question 14

The difference between a person's assets and liabilities, representing their overall financial worth

Accepted Answer

Net Worth

Answer

Expense

Answer

Credit Score

Answer

Investing

Question 15

The general increase in prices of goods and services over time, resulting in the decrease in purchasing power.

Accepted Answer

Inflation

Answer

Retirement Planning

Answer

Mortgage

Answer

Credit Score

Question 16

The fraudulent acquisition and use of another person's personal information for financial gain.

Accepted Answer

Identity Theft

Answer

Entrepreneurship

Answer

Retirement Planning

Answer

Debt

Question 17

The activity of creating, managing, and assuming the risks of a business or enterprise

Accepted Answer

Entrepreneurship

Answer

Inflation

Answer

Budgeting

Answer

Interest Rate

Create a free account and access millions of resources

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Mathematics