Understanding Finance Basics Quiz

A visually appealing illustration of various financial concepts such as saving, credit, and interest, with vibrant colors and engaging icons.

Understanding Finance Basics Quiz

Test your knowledge of fundamental financial concepts with our engaging quiz! This quiz covers key terms and definitions related to banking and personal finance.

10 multiple-choice questions
Learn about interest, credit unions, savings, and more
Perfect for anyone looking to improve their financial literacy

10 Questions2 MinutesCreated by LearningLeaf42

Simple interest

Interest on all the money in your account

Interest that is paid ONLY the principal

Interest on a loan.

Interest paid when you use your credit card

Minimum

The largest amount of money you can have in your account.

The tiniest, very small amount of money mice carry in their wallet.

The amount of money total in the entire bank.

The lowest or smallest possible amount.

Debit

Money added to an account.

Money subtracted from an account.

Money paid to you by the bank.

Money left in your piggy bank.

Interest

When a person really likes something.

The fee charged if you fall below the minimum

Amount of money you have in your account.

The money that is paid for borrowing someone else's money

Credit union

A financial association that lends money to its members; similar to a bank but members can borrow money at lower rates of interest.

Just another name for a bank.

A new type of store where you can shop for stuff.

A club where members can get money anytime.

Savings

The account you use everyday to buy things.

The money a person collects over time and does not spend right away.

Money used for groceries, shoes, etc.

The highest amount paid to the bank.

Annual

The money that goes into paying the credit union.

Happening every year

Happening only every other year

Flowers that bloom and die one time.

Principal

An amount of money that is put in a bank on which interest is paid.

Ms. Lopez is this for our school.

The amount subtracted from your account.

The fee for using the ATM.

Rate

The number of time something goes around.

A type of fee only guys pay.

The price or cost of something.

The number given to the best singer.

Balance

This is hard to do when you first try riding a bike.

An amount of money in a bank account.

You can do this if you put both arms out to the side.

The amount you need to buy plane tickets.

Understanding Finance Basics Quiz

Understanding Finance Basics Quiz

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