Finance and Money Quiz

What is cash?

• A type of credit

• Physical money in the form of coins and paper notes

• An investment

• Digital currency

Which of the following is an advantage of using cash?

• Widely accepted

• No interest charges

• All of the above

• Easy to track spending

Credit cards allow you to:

• Earn cash back on purchases

• Borrow money to make purchases

• All of the above

• Build credit history

Which is a disadvantage of credit cards?

• They may have high-interest rates

• They can help build credit

• They offer rewards

• They are widely accepted

Debit cards:

• Withdraw funds directly from your bank account

• Allow you to borrow money

• Are only used for online purchases

• Have interest charges

Which is a common use of Electronic Funds Transfer (EFT)?

• Paying for groceries

• Transferring funds between bank accounts

• Buying stocks

• Withdrawing cash

What is one disadvantage of using cash?

• Earns interest

• Easy to carry

• Cannot be tracked

• Widely accepted

What is paper money?

• Coins

• Currency made of paper

• A type of credit

• Digital currency

Which of these is an example of paper money?

• Credit cards

• Quarters

• Checks

• Dollar bills

What is a key feature of paper money?

• It is portable

• It can be easily destroyed

• It has no value

• It cannot be used for large transactions