Vocabulary Test

Vocabulary Test

9th - 12th Grade

14 Qs

quiz-placeholder

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Vocabulary Test

Vocabulary Test

Assessment

Quiz

Financial Education

9th - 12th Grade

Practice Problem

Hard

Created by

Candice Whitehead

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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a budget ?

A budget is a method for cooking meals.
A budget is a type of investment strategy.
A budget is a financial plan for managing income and expenses.
A budget is a tool for measuring physical fitness.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is credit?

Credit is the ability to borrow money or access goods and services with the promise to pay later.
Credit is the process of saving money for future purchases.
Credit refers to the amount of cash one has in their bank account.
Credit is a type of loan that must be repaid immediately.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a credit card?

A credit card is a payment card that enables the holder to borrow funds for purchases.
A credit card is a prepaid card that requires no repayment after use.
A credit card is a card used exclusively for cash withdrawals from ATMs.
A credit card is a type of loan that must be repaid in full each month.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between debit and credit?

Debits and credits are the same and have no impact on accounts.
Debits decrease assets/expenses; credits decrease liabilities/equity.
Debits are used only for cash transactions; credits are for credit transactions.
Debits increase assets/expenses; credits increase liabilities/equity.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What Is a credit report used for ?

A credit report is used to track personal expenses.
A credit report is used to determine employment eligibility.
A credit report is used to assess health insurance premiums.
A credit report is used to evaluate creditworthiness for loans and credit applications.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a deductible ?

A deductible is the total amount an insurance policy costs annually.
A deductible is the maximum amount an insurance company will pay for a claim.
A deductible is a type of insurance policy that covers all expenses without limits.
A deductible is the out-of-pocket amount a policyholder pays before insurance coverage kicks in.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a principle?

A principle is a fundamental truth or proposition that serves as a foundation for a system of belief or behavior.
A principle is a synonym for a rule or regulation.
A principle is a type of mathematical equation.
A principle is an opinion that can change over time.

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