Money Wise Terms Quiz

Everyday bank account...

• A bank that offers accounts for anybody

• A place to keep your money for day-to-day use

• A place to keep your money that will grow interest over time

• A place to keep your money that you do not need to use very often

Term Deposit Account...

• A place to store your money for day-to-day use

• An account that only exists for a short amount of time

• A place to keep your money that offers good access to your money but low interest rates

• A place to keep your money for a fixed amount of time with a high interest rate. Penalties for using the money

Match the following ANZ accounts to their interest rates

• 5.45% p.a.

• Term Deposit

• 4.25% p.a.

• Serious Saver

• 2.50% p.a.

• Online Everyday

Interest (received)...

• Earned income for having money invested or in an account

• Profits from selling assets like stocks or property

• Money earned from selling goods or services

• The level of attraction customers have for a business/product

Loan Principal...

• Loan Principal is the total amount repaid over time.
• Loan Principal refers to the interest charged on a loan.
• Loan Principal is the monthly payment made towards a loan.
• Loan Principal is the initial amount borrowed.

Credit Card...

• A credit card is a loan that must be repaid in cash.
• A credit card is used only for online shopping.
• A credit card is a financial tool for borrowing money to make purchases.

• A credit card is a type of savings account.

Debit Card...

• A debit card is a type of credit card.
• A debit card is only used for online purchases.
• A debit card is a payment card linked to a bank account. There is no borrowing ability

• A debit card is a card banks give loaners that shows the amount they borrowed and interest to be paid

Wages...

• Wages are a type of investment.
• Wages are a type of income earned by an employee/worker they receive a set amount for hours they work

• Wages are the set total amount of money an employer pays an employee yearly.

• Wages are a form of taxation.

Salary...

• The agreed amount an employer will pay an employee over a set amount of time

• A type of income where an employee is paid for the amount of work they do

• Money a business earns from selling goods or services

• Profits from selling assets like stocks or property

Managed Fund...

• An investment option where money is "pooled", by an investment professional, with other investors and money is spread across different types of investment

• An investment option where money is locked in for a fixed period at a set interest rate

• A kind of loan offered by a moneylender who charges extremely high rates of interest, typically under illegal conditions.

• An investment option that focuses on playing the stockmarkets