Financial Jeopardy Review

International Currency

100

Is 1 CAD worth more or less than 1 USD?

Less

200

What is the currency of Japan called?

JPY or yen

300

What is a factor that can influence the value of a country's currency?

Any of: economic conditions, political stability, employment rates, supply and demand, interest rates

400

If $1 WCD (Whaley's Corners Dollars) = $5 CAD, how much is $100 CAD in WCD?

$20 WCD

Financial Management and Decision Making

100

What is an objective that someone sets for themselves that affects how they spend and save money? (The general term, not an example)

Financial goal

200

What is a reliable source of financial information?

Any of: financial institutions (banks), business sections of newspapers, personal finance books and magazines, parents or other trusted adults, certified financial planning professionals

300

What is a factor that can influence financial decision making?

Any of: social media, advertisements, peer pressure, personal beliefs, personal health, employment and income, unforeseen circumstances, consumerism

400

What is one of the factors of determining whether a financial source is reliable?

Any of: accuracy, bias, reliability, relevance

Budgets

100

Finish the sentence: Budgets include a recording of ________ and ________ over a period of time.

Income and expenses

200

What are the two types of expenses?

Fixed and variable

300

What is a reason someone's budget might change?

Emergency situation, loss of employment/income, change in health, promotion/salary increase, large purchase, etc.

400

What is a type of budget?

Any of: individual, family, class, school, community, organizational

Interest

100

If you're borrowing money, would you want your interest to be simple interest or compound interest?

Simple interest

200

What is the simple interest formula?

I = Prt

300

What does the rate have to be expressed as when calculating interest?

A decimal

400

If I take out a loan for $1000 at an interest rate of 5% for a period of 3 years, what is the amount of interest the loan accumulates?

$150

Random

100

What is a common type of loan that most people take out at some time in their lives?

Any of: mortgage, car loan, student loan

200

What is a type of bank account that pays interest and often has a limit for transactions or daily withdrawal amounts?

Savings account

300

What is an example of a financial scam?

Fake news about winning money/a gift card/a vacation, "make money fast" schemes, fake product advertisements, debit/credit card theft/fraud, etc.

400

How much do I end up with if I start with a cent on Day 1 and double it every day for 31 days? (To the closest million)

$11 million ($10 737 418.24)