Financial Literacy 1
A financial institution that accepts deposits from the public.
A Bank
Who is on the new $20 bill?
King Charles
Whats the abbreviation for an Automated Teller Machine?
ATM
When you take money out of your bank account.
What is a withdrawal?
Mr. Barkley coaches his daughter's hockey team. What club is it with?
Leaside
A thing that is borrowed, especially a sum of money that is expected to be paid back in interest.
Who was on the $20 bill?
Queen Elizabeth
What the name for a paper document issued by an employer to pay an employee for services rendered.
A paycheck
When you put money into your bank account.
What is a deposit?
Who is our current acting Principal? Spell her name correctly.
Rose Clarke
A card issued by the bank that allows the holder to transfer money electronically to another account when making a purchase.
Debit Card
Name 2 paper money amounts that used to be made but is no longer in circulation?
$1, $2, $25, $500, $1000
Johnny really wants the new Playstation 5, which costs 800.00. Johnny has $20.00 in his bank account. However, he just received a credit card with a $2,500 limit. Should Johnny use his credit card to buy a PlayStation? Why or why not?
NO! Johnny should not use his credit card because he does not have enough money in his checking account. A person should never borrow money if they do not have the same amount in their checking account.
A plan for earning and spending over a period of time.
What is a budget?
What three numbers, none of which is zero, give the same result whether they’re added or multiplied?
One, two and three
I have enough money to pay the balance of my credit card, but I just pay the minimum monthly payment. Is that the best financial decision? True or False. Explain.
False
Paying the minimum amount is not the best decision. A person is charged interest when their credit card balance is not at 0 by the end of the month.
On one side of the Canadian toonie, is either King Charles or Queen Elizabeth (for older coins).
What is on the other side?
A bear
Name 3 of the top 5 banks in Canada. (Full name.)
Toronto-Dominion Bank (TD Bank), Royal Bank of Canada (RBC), Bank of Nova Scotia (Scotiabank), Bank of Montreal (BMO), and Canadian Imperial Bank of Commerce (CIBC)
A way to send money by email.
An e-transfer
This character debuted in 1967 and was sort of a less clueless Tarzan
George of the Jungle
What is physical currency?
Physical currency is money that you can hold in your hands, i.e. coins, bills.
Where are Canadian coins and bills made? (Full name is needed)
Royal Canadian Mint
Currency is a system of money used in a particular country. Name 4 DIFFERENT types of currencies. Please name the country to go with it.
USD, Canadian Dollar, Yen, Indian Rupees, Euros, South African Rand, Hong Kong Dollar, Chinese Yuan,
English Pound, South Korean Won, Bangladeshi Taka, Sri Lankan Rupee
What is the difference between Gross income and Net income?
o Gross income is your total earnings before deductions (e.g., income tax).
o Net income is your total earnings after deductions.
Give a 5 letter example of a palindrome.
radar, civic, kayak, madam, refer...