Financial Literacy Quiz

A vibrant illustration of diverse people engaging with financial activities, such as budgeting, saving, and investing, with charts and calculators in the background.

Financial Literacy Quiz

Test your knowledge about managing your finances with our engaging Financial Literacy Quiz! This quiz is designed to help you understand key financial concepts, including credit cards, loans, and investments.

10 multiple-choice questions
Improve your financial literacy
Suitable for all ages!

10 Questions2 MinutesCreated by LearningFinance101

Which of the following is an advantage of using a credit card?

Consumers can purchase things now, and pay for them later in the event of an emergency.

Interest is charged for the use of a credit card.

You could be a victim of identity theft.

If Sammy’s expenses are greater than his income, what must he do to balance his budget?

Earn more money AND spend less

Spend less money on expenses

Earn more money

None of the above

Which of the following is considered an advantage to using a debit card to make purchases?

Debit cards are convenient and easy to carry around.

Purchases can be made quickly and easily.

You can use many ATMs to get cash.

All of the above.

An identification card issued by a bank that allows a user to buy items and services immediately and pay the cost at a later time.

Check

Credit card

Debit card

An identification card issued by a bank that allows a user to immediately use money from an account. You have a personal identification number (PIN) to keep it safe.

Check

Debit card

Credit card

What are useful or valuable things, like property, a car, a home, or money?

budget

net worth

income

assets

Why is maintaining good credit important?

Can help you graduate from college

Allows you to carry more cash than usual

Allows you to buy expensive items and pay over time

Might cause your interest rates to be raised

What is a loan?

A fee for maintaining or servicing your loan account

Something valuable that you own and can sell for cash

Money you borrow but must also repay

The cost of borrowing money

What is an investment?

Written order instructing your bank to pay money from your account to another party.

A promissory note to repay a certain amount of money from your account to another party.

Something acquired with the goal of making money.

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Financial Literacy Quiz

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