Fi-Q Vault Trivia

Responsible Money Choices Income and Careers Making Plans with Money Credit and Borrowing Insurance and Safety Savings and Investing

100

False
True or False? People can be responsible with their money by buying everything they want.

100

a. An owner of a plumbing business
Which of the following is an entrepreneur?
  1. An owner of a plumbing business
  2. A waitress
  3. A flight attendant

100

b. Impulse buys
At the grocery store, the items you might buy while waiting in the check-out line are considered…
  1. Needs
  2. Impulse buys
  3. Unsought goods

100

a. A form of borrowing
What is credit?
  1. A form of borrowing
  2. An endless supply of money
  3. A household asset

100

b. Health insurance
People use _______to help them pay their medical bills.
  1. Safety insurance
  2. Health insurance
  3. Property insurance

100

True
True or False? An advantage to keeping your money in a savings account is that you might earn interest on your savings.

200

b. Because you can live without wants, but you can’t live without needs
Why is it important to spend money on things you need before spending money on things you want?
  1. Because buying things you want is more fun
  2. Because you can live without wants, but you can’t live without needs
  3. Because only adults can spend money on things they want

200

a. A wage is paid by the hour, and a salary is paid over a set period of time
What is the difference between a wage and a salary?
  1. A wage is paid by the hour, and a salary is paid over a set period of time
  2. A wage is paid over a set period of time, and a salary is paid by the hour
  3. There is no difference between a wage and a salary

200

b. Because charities will use your money to become richer
All of these are good reasons to donate to a charitable organization except:
  1. Because charities help make the world a better place by helping those in need
  2. Because charities will use your money to become richer
  3. Because you can find a charity that raises money for something you’re interested in

200

c. Both A and B
An adult might use credit to pay for______.
  1. A car
  2. A House
  3. Both A and B

200

b. Loaning your friend money for lunch
What is an example of a financial risk?
  1. Cutting your own hair
  2. Loaning your friend money for lunch
  3. Going rock climbing

200

c. Budget
The best way to make the most out of your money is to create a _________.
  1. Work chart
  2. Loan
  3. Budget

300

a. You can learn from their experiences and avoid making bad money decisions.
Why is it helpful to listen to adults’ experiences and advice about money?
  1. You can learn from their experiences and avoid making bad money decisions.
  2. You might get ideas of new things to buy
  3. They can help you work on your math skills

300

c. Choosing whatever your friends are doing
All of these are things you should consider when choosing a career path except:
  1. Your interests and talents
  2. Your expected income
  3. Choosing whatever your friends are doing

300

b. Compare the price for what you want to buy at two or more stores
What’s the best way to know if you are getting a good deal on what you're buying?
  1. Find out if there is a return policy
  2. Compare the price for what you want to buy at two or more stores
  3. Find out if all your friends own the item too

300

a. Buy your friend a replacement item
If you damage something you've borrowed from a friend, how could you regain your friend’s trust?
  1. Buy your friend a replacement item
  2. Stop talking to your friend
  3. Pretend like it was damaged when it was given to you

300

c. Both A and B
What are some ways that people can protect their cars from being damaged?
  1. Keep them in a garage
  2. Drive safely
  3. Both A and B

300

a. A high interest rate
When selecting a savings account, what should you look for?
  1. A high interest rate
  2. A low interest rate
  3. An account that requires a minimum balance

400

b. How much money are you making each week and how much do you need to set aside for your expenses?
You’re getting ready to make a savings plan. What question should you ask yourself first?
  1. What are all of the things you want to save for?
  2. How much money are you making each week and how much do you need to set aside for your expenses?
  3. How can you spend all of your money?

400

b. Maera would be a better fit
Michael loves to work in teams and speak in front of groups. Maera loves math and can focus on hard work for a long time. Would Michael or Maera be a better fit for a career in computer engineering?
  1. Michael would be a better fit
  2. Maera would be a better fit
  3. Neither would be a good fit

400

c. The movie and miniature golfing
You have $20 dollars in your budget this week. Your friends are going to the movies and miniature golfing this week. The movie ticket costs $12, popcorn costs $7, and a drink costs $4. Miniature golfing costs $8. Which choice is within your budget?
  1. The movie, popcorn, and drink
  2. The movie, popcorn, drink, and miniature golfing
  3. The movie and miniature golfing

400

a. With credit, you borrow money to make the purchase, and repay the money borrowed later
How is buying with credit different than paying with cash?
  1. With credit, you borrow money to make the purchase, and repay the money borrowed later
  2. With credit, you can pay for things from your checking account
  3. There is no difference between buying with credit or paying with cash

400

a. Alisha is managing property risk
Alisha and Jamal take a bike ride to the park. Alisha locks her bike at the bike rack and Jamal leaves his bike on the ground. Which of the following is true?
  1. Alisha is managing property risk
  2. Jamal is managing property risk
  3. Alisha is preventing financial risk

400

a. Stocks
Which of the following is an example of an investment that can build your wealth?
  1. Stocks
  2. Checking account
  3. Taking out a loan

500

c. Wait for the sale and buy the phone if you have enough money after paying for all of your needs
You’re at the mall and you see the phone that you really want to buy. You think there’s supposed to be a sale next week but you’re not sure. What should you do?
  1. Buy the phone now because you really want it
  2. Buy the phone next week if it’s on sale or not
  3. Wait for the sale and buy the phone if you have enough money after paying for all of your needs

500

c. Working full-time in an office with her dad
Your friend wants to get an after-school job. She’s considering mowing lawns around the neighborhood, babysitting, and working full-time in an office with her dad. Which option should she get rid of?
  1. Mowing lawns around the neighborhood
  2. Babysitting
  3. Working full-time in an office with her dad

500

c. Follow your own interests and buy the robot
You’ve been saving for a coding robot for 6 months. Your friend just showed up to school with the coolest new shoes. He takes a look at your shoes and says they aren’t as cool as his. You want to be cool but you only have enough for the shoes or the robot, not both. What do you do?
  1. Buy new shoes so that you look cool
  2. Wait for the shoes to go on sale and save the extra money to buy the robot next year
  3. Follow your own interests and buy the robot

500

b. Financial institutions make money from the interest the borrower pays to use the money
Why do financial institutions lend money?
  1. Financial institutions make money if they loan money to successful entrepreneurs
  2. Financial institutions make money from the interest the borrower pays to use the money
  3. Financial institutions have too much money and it can’t sit too long in the vault

500

b. When you’ve protected yourself from danger or uncertainty the best you can
When is it OK to take a risk?
  1. When you want to have fun
  2. When you’ve protected yourself from danger or uncertainty the best you can
  3. When you have insurance

500

c. Mutual funds
Sheena wants to start investing. She needs to make sure her portfolio has different types of investments, but she doesn’t have time to pick individual investments. What would you suggest she add to her portfolio?
  1. Stocks
  2. Bonds
  3. Mutual funds

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