Financial Literacy Quiz

What is the term for a display that encourages people to buy a product or service?

• Advertising

• Promotion

• Endorsement

• Discount

What does 'afford' mean?

• To have enough money to pay for something

• To invest money

• To borrow money

• To save money

What is 'balanced' defined as?

• Having more expenses than income

• Having more income than expenses

• Having equal amounts

• Having no savings

What is a 'benefit' in financial terms?

• A discount on a product

• Money paid to treat, repair, or replace something insured

• A tax refund

• A bonus from an employer

What does 'bookkeeping' involve?

• Recording all income and expenses for a business

• Investing in stocks

• Paying taxes

• Applying for loans

What is a 'brand name'?

• The specific name of a product or service provided by a company

• A generic product

• A type of insurance

• A financial market

What is a 'budget'?

• A financial market

• A type of loan

• A plan for earning and spending money

• A savings account

What does 'checking' refer to in banking?

• Using checks to pay out of a bank account

• Saving money

• Investing in stocks

• Applying for a loan

What is a 'claim' in insurance terms?

• A financial market

• A savings account

• A type of loan

• A request for payment to repair or replace something that is insured

What is a 'commission'?

• Pay to a salesperson for each product or service sold

• A savings account

• A type of tax

• A financial market