Cycle #3 - Financial Life Skills
Authored by Christopher Daniel Bringer
Financial Education
12th Grade
Used 6+ times
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21 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Money that is backed by the government and is legal tender to spend is called what?
Reserve Money
Fiat Money
Cyber Currency
Bit Coin
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Banks give out loans to people. Where do banks get the money to loan to people?
They print it from a machine.
They lend out money from savings and checking accounts
They don't loan money out, its all on a computer and not real
They steal if from another bank and give it out.
3.
CATEGORIZE QUESTION
3 mins • 1 pt
Organize these options into the right categories (financial Institutions)
Groups:
(a) Commercial Bank
,
(b) Credit Union
,
(c) Payday Loan Company
,
(d) Title Pawn Lender
Offer lowest interest rate to their members
Insured by the FDIC
They will help you, but they want profits.
Use Collateral to get a loan.
Insured by the NCUA
Loan for your paycheck
Debt Trap
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Banks are _____________ businesses that offer a variety of services to the public
For profit
Non profit
Public
Private
5.
CATEGORIZE QUESTION
3 mins • 1 pt
Organize these options into the right categories
Groups:
(a) Savings and Checking accounts
,
(b) Retirement Account
,
(c) Mutual Funds
,
(d) Stocks
FDIC insured up to a certain limit
Medium - High Risk Investment
High Risk - High Reward
A company takes your investment and spreads it over low risk stocks
One from an employer is called 401K
Can't withdraw until 59 1/2 years old
Interest earned on deposits
Roth and Traditional are two types
Least Risky Investment
This is a need you must have one.
Purchase = part ownership in a company.
High Risk
Medium Risk
Easy access with a Debit Card
6.
DRAG AND DROP QUESTION
1 min • 1 pt
The 50-30-20 rule. 50% of your income should be spend on your (a) , 30% of your income should be spend on (b) spending and 20% should be spend on (c)
7.
MATCH QUESTION
1 min • 1 pt
Match the following with the different ways to pay for goods and services.
Safe, but the banks money
Debit Card
Safe, quick, but need a charger
Check
Bills, Coins, universally accepted.
Phone App
quickly deducted from bank account
Cash
Best way to send money in the mail.
Credit Card
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