US Grade 5 Financial Literacy Test 1

K-12 » Category

Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

K-12 Grade 5 Financial Literacy Elementary School (Grade 5, USA Common Core) USA USA Common Core & NGSS

What is this test? for Grade 5 Financial Literacy practice (Elementary School K-5, USA Common Core) — Elementary School (Grade 5, USA Common Core) level, USA.
Is this for you? This test is for Elementary School students (Grade 5, K-5) studying Financial Literacy under USA Common Core — if you are in Elementary School, this is for you.
Section: K-12 Grade 5 Financial Literacy · Education: Elementary School · Part: K-12 Grade 5 Financial Literacy · Country: USA

A regular habit of taking practice tests makes learned information stick and is one of the most important factors directly affecting exam success.

This test will help you gauge your knowledge in your field and manage your exam prep more efficiently.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is saving?

A) spending everything

B) keeping money for later instead of spending

C) giving all away

D) losing money

Question 2

What is a budget?

A) a shopping list

B) a plan for spending and saving money

C) a bank robbery

D) a toy

Question 3

What is a bank?

A) a toy store

B) a zoo

C) a park

D) a safe place that keeps money

Question 4

What is the difference between a need and a want?

A) no difference

B) wants are needs

C) needs are required to live, wants are extras

D) needs cost more

Question 5

What is interest?

A) a fee for toys

B) lost money

C) free candy

D) extra money a bank pays savers

Question 6

Why compare prices?

A) to buy more

B) no reason

C) to get the best value for money

D) to waste time

Question 7

What is earning?

A) getting money by working

B) taking money

C) printing money

D) finding money always

Question 8

What should you do with birthday money?

A) hide forever

B) save part and spend part wisely

C) throw it away

D) spend it all fast

Question 9

What is a coin?

A) paper money

B) metal money of small value

C) a toy

D) a rock

Question 10

What is a dollar bill?

A) paper money worth 100 cents

B) a note

C) a coupon

D) a ticket

Question 11

How many cents in a dollar?

A) 10

B) 25

C) 50

D) 100

Question 12

How many cents is a quarter?

A) 5

B) 10

C) 25

D) 50

Question 13

How many cents is a dime?

A) 1

B) 25

C) 5

D) 10

Question 14

What is donating?

A) taking things

B) wasting food

C) giving money or goods to help others

D) hiding money

Question 15

What is a receipt?

A) proof of what you bought

B) a toy

C) money

D) a gift

Question 16

Why save for goals?

A) big wants need time and planning

B) to waste

C) to brag

D) no reason

Question 17

What is a price tag?

A) a toy

B) a gift

C) a joke

D) shows what something costs

Question 18

What is change?

A) a gift

B) money back after paying

C) lost money

D) extra toys

Question 19

What is a sale?

A) free everything

B) higher prices

C) closed store

D) lower prices for a time

Question 20

If a toy costs 3 dollars and you pay 5, what is the change?

A) 8 dollars

B) 3 dollars

C) 0 dollars

D) 2 dollars

US Grade 5 Financial Literacy Test 1

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