Knowledge Pre-test

Our Champs (ages 7-11)

Our champs

Name

1. Emotions sometimes play a role in how an individual thinks about money

True

False

2. Overtime people develop habits and behaviors that may have an impact on their financial goals

True

False

3. Which of the following might affect an individual’s financial tendencies

Age

Career and salary

Educational level

All of the above

4. Your financial plan may require several adjustments over the course of your lifetime as your personal situation, finances, lifestyle and goals changes

True

False

5. Which of the following can influence your financial decisions

Family and friends

Society

Media and advertising

All of the above

6. There is no way to verify the truthfulness of financial information you receive from influencers and social media

True

False

7. What is a financial plan

A plan to get money from your parents or family

A plan to identify long-term financial goals and the path to achieve them

Plan on how to start a business

8. Setting financial goals will always positively influence your finances

True

False

9. Your philanthropic or charitable decisions should be integrated into your overall financial plan

True

False

10. ____________ is a bank?

A place to receive money and make loans

A place to buy and store food

A place to buy clothes

11. What is a savings account?

An account to store money

An account to buy toys

An account to buy books

12. What is budgeting?

A plan for spending money

A plan for sleeping more

A plan for doing homework

13. What is a debit card?

A card to spend money

A card to play video games

A card to watch TV

14. What is interest?

Money you receive when you save

Money you pay when you borrow

Money you spend when you buy toys

15. What is inflation?

The increase in prices

The decrease in prices

The prices stay the same

16. What is a stock?

A part of a company you can own

A toy you can play with

A game you can play

17. What is a bond?

A loan you give to a company or government

A toy you can play with

A game you can play

18. What is a mutual fund?

A type of investment that pools money from many people to buy stocks, bonds, or other investments

A type of food you can buy

A type of TV show you can watch

19. What is the difference between needs and wants?

Needs are things you must have to survive, while wants are things you would like to have.

Needs are things you would like to have, while wants are things you must have to survive.

Needs and wants are the same thing.

Knowledge Pre-test

Our Champs (ages 7-11)

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