Banzai Jr. (Post Test Study Guide) - Questions With
Correct Answers
An IOU is an example of Right Ans - a personal loan
How does your money grow once you put it in a savings account? Right Ans
- The bank gives you more money each month.
What's income? Right Ans - Money that you earn.
What is a good example of a financial goal? Right Ans - A college fund.
A bike or other item that costs a lot of money.
To pay back money you borrowed.
You did some grocery shopping for your mom. She gave you a $10 bill and a
list for oranges for $1.50, milk for $2.00, pasta for $3.25, and juice for $1. How
much change will you get back? Right Ans - $2.25
Why would someone create a budget? Right Ans - To keep track of money
earned and money spent.
Which of the following could be considered a business expense? Right Ans -
The treats you bought for your dog-walking job.
You make $12.75 running a lemonade stand with your BFF. If your supplies
cost $3.75 to purchase and you split the profit equally with your friend, how
much money will you make? Right Ans - $4.50
Everyone's playing Catch 'Em GO! and you want to buy a new deck of cards to
play with. What's the best way to pay for them? Right Ans - Put aside
money for the cards each time you get your allowance until you have enough.
You're selling brownies at the school bake sale. If they cost $0.50 each and
your friend buys three of them with a $5 bill, what's the best way to make
change for her? Right Ans - Three $1 bills and two quarters.
What's a good way for you to earn and save money? Right Ans - Getting an
allowance from your parents.
Correct Answers
An IOU is an example of Right Ans - a personal loan
How does your money grow once you put it in a savings account? Right Ans
- The bank gives you more money each month.
What's income? Right Ans - Money that you earn.
What is a good example of a financial goal? Right Ans - A college fund.
A bike or other item that costs a lot of money.
To pay back money you borrowed.
You did some grocery shopping for your mom. She gave you a $10 bill and a
list for oranges for $1.50, milk for $2.00, pasta for $3.25, and juice for $1. How
much change will you get back? Right Ans - $2.25
Why would someone create a budget? Right Ans - To keep track of money
earned and money spent.
Which of the following could be considered a business expense? Right Ans -
The treats you bought for your dog-walking job.
You make $12.75 running a lemonade stand with your BFF. If your supplies
cost $3.75 to purchase and you split the profit equally with your friend, how
much money will you make? Right Ans - $4.50
Everyone's playing Catch 'Em GO! and you want to buy a new deck of cards to
play with. What's the best way to pay for them? Right Ans - Put aside
money for the cards each time you get your allowance until you have enough.
You're selling brownies at the school bake sale. If they cost $0.50 each and
your friend buys three of them with a $5 bill, what's the best way to make
change for her? Right Ans - Three $1 bills and two quarters.
What's a good way for you to earn and save money? Right Ans - Getting an
allowance from your parents.
