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FC 2 Finance Terms and Uses

finances and terms

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23 views4 pages

FC 2 Finance Terms and Uses

finances and terms

Uploaded by

ousmanebaby755
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Finance terms and uses

Multiple choice questions


choose the correct answer to be familiar with financial vocabularies
1. What do you call money you owe to a bank or lender?

⦁ a) Income

⦁ b) Debt

⦁ c) Savings

⦁ d) Investment
2. What do you call the money you earn from your job or other sources?

⦁ a) Bills

⦁ b) Expenses

⦁ c) Income

⦁ d) Loans

3. What is a piggy bank typically used for?

⦁ a) Saving loose change

⦁ b) Baking cookies

⦁ c) Playing video games

⦁ d) Making phone calls

4. What is the purpose of a budget?

⦁ a) To spend as much money as possible

⦁ b) To track your spending and save money

⦁ c) To buy everything you want

⦁ d) To borrow money from friends


5. What do you call the money you receive from someone as a loan, and you promise to
pay it back?

⦁ a) Gift

⦁ b) Income

⦁ c) Loan

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⦁ d) Allowance
6. Where can you keep your money safe and earn a little bit of interest on it?

⦁ a) Under your mattress

⦁ b) In a piggy bank

⦁ c) In a savings account at a bank

⦁ d) In your pocket
7. What should you do before making a big purchase to make sure you can afford it?

⦁ a) Buy it right away

⦁ b) Ask your friends to buy it for you

⦁ c) Save money and make a budget

⦁ d) Borrow money from your parents

8. What is the term for money you receive regularly, usually weekly or monthly, for doing
chores or tasks?

⦁ a) Bills

⦁ b) Allowance

⦁ c) Loans

⦁ d) Debt

9. What do you call a place where you can buy and sell things, like toys or games, for
money?

⦁ a) Toy store

⦁ b) Bank

⦁ c) Piggy bank

⦁ d) Market
10. What is the main reason for saving money?

⦁ a) To spend it all at once

⦁ b) To have money for emergencies and future needs

⦁ c) To give it away to friends

⦁ d) To forget about it

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11. What do you call the money you receive for your birthday or other special occasions?

⦁ a) Allowance

⦁ b) Income

⦁ c) Gift

⦁ d) Loan
12. What should you do with your allowance or money you receive as a gift if you want to
save it for later?

⦁ a) Spend it right away

⦁ b) Put it in a savings account

⦁ c) Give it to a friend

⦁ d) Use it to buy toys

13. What is the term for the extra money you pay when you buy something, like a toy or
candy?

⦁ a) Price

⦁ b) Savings

⦁ c) Interest

⦁ d) Sales tax

14. How can you earn money by doing small jobs like helping with chores at home?

⦁ a) By saving your allowance

⦁ b) By opening a checking account

⦁ c) By earning an income

⦁ d) By getting a loan
15. What do you call the money you put into a bank to save for the future?

⦁ a) Debt

⦁ b) Income

⦁ c) Savings

⦁ d) Bills

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