Contracts and Financial Literacy Quiz

Contracts and Financial Literacy Quiz

10th Grade

30 Qs

quiz-placeholder

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Contracts and Financial Literacy Quiz

Contracts and Financial Literacy Quiz

Assessment

Quiz

Financial Education

10th Grade

Hard

Created by

Lindsey Michael

FREE Resource

30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a written or spoken agreement that is intended to be enforceable by law?

Contract

Warranty

Budget

Offer

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of contract is specifically stated in words, either orally or in writing?

Express contract

Implied contract

Notarized contract

Warranty

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of contract is formed by the actions or conduct of the parties involved?

Implied contract

Express contract

Notarized contract

Warranty

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT an element of a legally binding contract?

Warranty

Agreement

Consideration

Capacity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which element of a legally binding contract refers to the mutual understanding between parties?

Agreement

Legality

Budget

Notarized

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the legality element of a contract refer to?

The contract must be for a lawful purpose

The contract must be notarized

The contract must be written

The contract must be implied

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a counteroffer?

A response to an offer with different terms

A legally binding contract

A type of warranty

A financial plan

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