1 / 9

Financial Literacy Quiz: Check Usage, Decimal Conversion, IDs, Interest Rates, Budgeting Tips

Test your knowledge with this quiz covering topics such as identifying payee, drawee, and drawer on a check, advantages of using checks, converting percents to decimals and vice versa, bank identification requirements, simple interest calculations, common budgeting expenses, and income deductions.

gitel
Télécharger la présentation

Financial Literacy Quiz: Check Usage, Decimal Conversion, IDs, Interest Rates, Budgeting Tips

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Section 1 Quiz Review Introduction to Business and Marketing

  2. Parts of a Check 1 2 3 • Identify the following: • Payee • Drawee • Drawer

  3. Advantages of Using Checks • What are the advantages of using checks to make purchases? • Bank safely stores your money • Serve as written receipt of purchases • Can send checks through the mail • Banks keep current account of all checks paid and the remaining balance

  4. Percents to Decimals • Change the following percents to a decimal • 45% • 134% • 7% • 15.6%

  5. Decimals to Percents • Change the following decimals to percentages and round to the nearest hundredth • .5390 • .0345 • .12 • 1.43 • .679

  6. Bank Identification • What type of identification does a bank need when opening a new account? • At least two of the following photo identifications • Drivers License • Military ID • Student ID • State ID card • Passport • Membership card

  7. Simple Interest • The bank loans you $5,000 at 15% interest, how much interest would you owe for 1 year? • $750 • How much interest would you owe if you paid the balance in 4 months? • $250

  8. Budgeting • What are the three large expenses the average American spends their money on? • Taxes (23%) • Housing (19%) • Transportation (10%) What about entertainment? Only 5%

  9. Deductions • Approximately how much of your income is taken out of your paycheck for Federal Income tax? • 15% • Approximately how much of your income is taken out of your paycheck for Social Security or FICA? • 8%

More Related