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Working for $
Smart Spending
Banking Basics
Multiple Choice
Miscellaneous
100

What is the money you earn from a job called?

Earnings or Expenses? 

Earnings

100
What do you call money that you set aside for future use?

savings

100

True or False: You can open a bank account as a student. 

True

100

If you save $5 each week, how much will you have after 4 weeks?
A) $30

B) $200

C) $20

C) $20

100

True or False: Buying groceries is a NEED not a WANT

True - Need

200

What is money earned from a job called? Income or outcome?

Income

200

An e______________ fund is something that you put money towards in case something unexpected happens. Ex) Your car breaks down. 

emergency

200

What is it called when you take out a loan? Borrowing or budgeting? 

borrowing

200

Where is a safe place to keep your savings?
A) Under your bed
B) A bank account
C) In your locker

B)  A bank account

200

What is it called when you buy something you want without thinking? Impulse buy or strategic buy? 

Impulse Buy

300

The amount of money a person makes per hour is called a w_ _ _.

Wage

300

What do we call a plan that helps you avoid debt and keep track of your money? 

Budget

300

What is a bank card that lets you borrow money called? 

A credit card

300

Which is the BEST reason to save money?
A) To show off
B) For emergencies or future goals
C) To lose it

B) For emergencies or future goals

300

At what age can you officially start working in Alberta?

Age 12 can do 'artistic endeavours' (ex. acting) 

Age 13-14 can work at businesses part-time 

**they need parental consent 

400

Money paid to a worker on a yearly basis is called a s_________. 

salary 

400

What helps you grow wealth over time? Hint: think of the stock market

Investing

400

What is the term for a monthly payment toward a loan? Instalment or Earnings? 

Instalment

400

If your budget says you can spend $15, what should you do?
A) Spend $25
B) Spend $15 or less
C) Ignore it

B) Spend $15 or less

400
True or False: Students under 18 can be paid less than an adult in Alberta. 

True - Minimum Wage for 18 and under is $13 /hr

500

What is the minimum hourly wage in Alberta? 

$15/hr

500

If you save $5 each week, how much will you have after 4 weeks?

Answer: $20

500
What is the term used for a loan to buy a house? 

Morgage

500

You want a $60 item. You have $40. You could earn $10/week. What is the FASTEST way to afford it (without borrowing)?
A) Buy it now
B) Wait 1 week
C) Wait 2 weeks

C) Wait 2 weeks

500

What is the average yearly salary of people in Alberta? 

Around $60,000