Money Sense Quiz 1

7 Questions | Attempts: 207
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Money Sense Quiz 1 - Quiz

Questions and Answers
  • 1. 
    What question should you ask yourself before purchasing an item?
    • A. 

      “Do I need it?”

    • B. 

      “Do I have it?”

    • C. 

      “Do I want it?”

  • 2. 
    Purchasing   _____________ allows stores and supermarkets to get a lower price for their goods.
    • A. 

      During sales

    • B. 

      Good quality items

    • C. 

      In bulk

  • 3. 
    Savings in the bank yield  ______________.  
    • A. 

      Expenses

    • B. 

      Interest

    • C. 

      Salary

  • 4. 
    My bank pays me 0.1% annual interest on my savings account.  If I deposit $100 into my savings account, it becomes ________ after 1 year
    • A. 

      $110

    • B. 

      $101

    • C. 

      $100.10

  • 5. 
    Which of the following is what we should do with our total monthly savings?
    • A. 

      Put it in a bank

    • B. 

      Keep them under our bed

    • C. 

      Stock up on all the goods we need

  • 6. 
    When a person has no more savings and is unable to pay his debts, he is  _________________.
    • A. 

      Poor

    • B. 

      Bankrupt

    • C. 

      A spendthrift

  • 7. 
    Inflation  ________________________.
    • A. 

      Takes away our money

    • B. 

      Causes money to fall in value

    • C. 

      Increases the value of items

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