Understanding Finance Basics Quiz
Understanding Finance Basics Quiz
Test your knowledge of fundamental financial concepts with our engaging quiz! This quiz covers key terms and definitions related to banking and personal finance.
- 10 multiple-choice questions
- Learn about interest, credit unions, savings, and more
- Perfect for anyone looking to improve their financial literacy
Simple interest
Interest on all the money in your account
Interest that is paid ONLY the principal
Interest on a loan.
Interest paid when you use your credit card
Minimum
The largest amount of money you can have in your account.
The tiniest, very small amount of money mice carry in their wallet.
The amount of money total in the entire bank.
The lowest or smallest possible amount.
Debit
Money added to an account.
Money subtracted from an account.
Money paid to you by the bank.
Money left in your piggy bank.
Interest
When a person really likes something.
The fee charged if you fall below the minimum
Amount of money you have in your account.
The money that is paid for borrowing someone else's money
Credit union
A financial association that lends money to its members; similar to a bank but members can borrow money at lower rates of interest.
Just another name for a bank.
A new type of store where you can shop for stuff.
A club where members can get money anytime.
Savings
The account you use everyday to buy things.
The money a person collects over time and does not spend right away.
Money used for groceries, shoes, etc.
The highest amount paid to the bank.
Annual
The money that goes into paying the credit union.
Happening every year
Happening only every other year
Flowers that bloom and die one time.
Principal
An amount of money that is put in a bank on which interest is paid.
Ms. Lopez is this for our school.
The amount subtracted from your account.
The fee for using the ATM.
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