Finansiële Geleterdheid

Question 1

What is financial literacy?

Answer 1

The ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.

Question 2

True or False: A budget is a plan for managing income and expenses.

Answer 2

True

Question 3

Fill in the blank: The process of tracking where your money goes is called _____ .

Answer 3

budgeting

Question 4

What is the purpose of a savings account?

Answer 4

To save money while earning interest on the deposited amount.

Question 5

Multiple Choice: Which of the following is a good practice for managing money? A) Spending all income B) Creating a budget C) Ignoring savings

Answer 5

B) Creating a budget

Question 6

What does ‘interest’ refer to in finance?

Answer 6

The cost of borrowing money or the earnings from saving money.

Question 7

True or False: All debts are bad.

Answer 7

False

Question 8

What is a credit score?

Answer 8

A numerical representation of a person’s creditworthiness based on their credit history.

Question 9

Fill in the blank: _____ is the amount of money you earn before taxes are deducted.

Answer 9

Gross income

Question 10

Multiple Choice: Which of the following is NOT a type of expense? A) Fixed B) Variable C) Income

Answer 10

C) Income

Question 11

What is the difference between a want and a need?

Answer 11

A need is something essential for survival, while a want is something that enhances quality of life but is not essential.

Question 12

True or False: It is important to have an emergency fund.

Answer 12

True

Question 13

What is the main goal of investing?

Answer 13

To grow wealth over time by putting money into financial assets.

Question 14

Fill in the blank: _____ is the practice of setting aside money for future use.

Answer 14

Saving

Question 15

Multiple Choice: Which of the following is a form of income? A) Salary B) Rent C) Both A and B

Answer 15

C) Both A and B

Question 16

What is a financial goal?

Answer 16

A specific objective that requires financial planning and saving to achieve.

Question 17

True or False: It is unnecessary to review your budget regularly.

Answer 17

False

Question 18

What is the term for money that is owed to someone?

Answer 18

Debt

Question 19

Fill in the blank: A _____ is a written document that outlines your financial situation and plans.

Answer 19

financial plan

Question 20

Multiple Choice: Which of the following is a benefit of having a budget? A) Overspending B) Better savings C) More debt

Answer 20

B) Better savings

Question 21

What is the role of a bank?

Answer 21

To provide financial services such as accepting deposits, giving loans, and facilitating transactions.

Question 22

True or False: Investing always guarantees a profit.

Answer 22

False

Question 23

What does ‘liquidity’ mean in finance?

Answer 23

The ease with which an asset can be converted into cash.

Question 24

Fill in the blank: _____ is the practice of comparing prices and services before making a purchase.

Answer 24

Shopping around

Question 25

Multiple Choice: What is a common reason for needing a loan? A) Buying a car B) Going on vacation C) Buying snacks

Answer 25

A) Buying a car

Question 26

What is a financial institution?

Answer 26

An organization that provides financial services, such as banks, credit unions, and investment firms.

Question 27

True or False: It is advisable to spend all your savings.

Answer 27

False