Federal Reserve/Exchange Rates
Digital Footprint/Opportunity Cost
Money Values
Scams/Identity Theft
Money/Currency
100
Who appoints the governors to the Federal Reserve?
The President
100
An opportunity cost is when you _____ _____ something in order to do something else.
Give Up
100
This type of External Factor that could influence your financial decisions is something you may see on TikTok or the internet.
Social Media Advertising/Influencers
100
T/F
It is a good practice to use your birthday as part of your password?
False
100
Is this Currency or Money?
Currency
200
How many Australian dollars would you get for $1000 US dollars?
1516
200
True or False:
Payment apps are a part of your digital footprint.
TRUE
200
Name 2 Internal Factors that can influence financial decisions.
Beliefs about money
Financial Goals
Your Career
Your Age
200
Strong passwords should be a mix of Letters, Numbers and ______________.
Symbols/Special Characters
200
Currency is the physical form of money that is issued by ___________________.
The Government
300
The Federal Reserve was created to perform 3 functions...
Supervise the Banking Industry
Stabilize the American financial systems
_______________________________
Create & Implement Monetary Policy
300
What is a digital footprint?
The trail of information that shows a person's online activity.
300
Emotions can influence your financial decisions. What is it called when you buy something without putting thought into it?
Impulse Buying
300
What Red Flag should go up if you receive a text from your bank asking you to transfer money immediately our your account will be frozen?
Sense of Urgency
(Banks won't do this)
300
Name 2 of the 3 Functions of Money
Unit of Account
Store of Value
Medium of Exchange
400
The Federal Reserve was created in __________ as central bank and a way to help stabilize the economy.
1913
400
What is the opportunity cost of choosing to go to a concert instead of picking up a shift at you place of employment?
You lose out on the extra money you could have earned.
400
What strategy can you use to help you make an informed financial decision?
PACED
400
What is 1 reason for taking the creation of security questions seriously?
You may not need to use it for quite a while and you want it to be something that you can remember.
400
Our money used to be backed by gold, now it is backed by the government. Our current money is known as _______________ money.
Fiat
500
How many US dollars would you get for 500 Brazilian Reals if the exchange rate is 5.392?
$185.46
500
If your financial information has been hacked, what can you do so that creditors cannot access your credit file and makes it harder for scammers to do more damage?
Freeze Your Credit
500
Money values are personal and influenced by...
Life Experiences
Cultural & Societal Influences
Aspirations & Goals
_____________________
Family Background
500
Why should you not enter passwords, or other personal information on a device that you do not own or trust?
There would be malware that copies your information.
500
To be considered money it must have these 5 characteristics...
Divisible Stable/Scarce ___________
Acceptable _____________
(Name the last 2)
Portable and Durable