Current Event Quiz Study Guide. V3.2 July, 2013. Personal Finance Quiz. Study Guide. How it Works. • This is an optional quiz that allows teams to ear...
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Personal Finance Quiz
Study Guide How it Works
This is an optional quiz that allows teams to earn UP TO 20 Welcos Net Profit.
Teams also risk losing up to 10 Welcos, depending on their score.
The team chooses two of its students to take the quiz.
The students must take it alone, with no help whatsoever.
The students deposit 10 Welcos with the Quiz Administrator to take the quiz.
They may obtain the Welcos from the team’s own cash, a Bank Loan etc.
The Quiz Administrator corrects the quiz and pays 3 Welcos per correct answer.
The Quiz questions come from the Financial Fitness for Life Grades 9-12 Course, and other scholarly on-line sources. Two questions from each of the five following topics will appear:
The Economic Way of Thinking – WHAT’S THAT? Here’s a good definition -
http://www.econedlink.org/interactives/EconEdLink-interactive-toolplayer.php?iid=137. Topics in this section include: Opportunity costs, risk vs. reward, and incentives, and how they apply to personal finances.
Income – Nearly everyone’s income comes from wages, so this section concentrates on finding & getting a job, and taxes.
Saving – This section covers ways to grow your money: interest, stocks, and other investments
Spending/Credit – Loans, Credit rating, and the cost of credit
Money Management – bank accounts, insurance, and net worth
