I’m sure that everyone from grade 2 students and teachers to parents know how important money and financial literacy can be. To learn more about this subject, I created this money quiz with questions that are best suited to grade 2 students. With these 20 questions, your students and children can make sure that they understand the basics of money and learn more about it. Hopefully this money quiz can help everyone better understand the fundamentals of money and its use. Let’s get started!
Q1: Who invented paper money?
A: The United States
B: China
C: Belgium
D: Canada
Answer: B: China
Q2: What is a banknote?
A: A type of coin
B: A type of paper currency
C: A type of plastic card
D: A type of cheque
Answer: B: A type of paper currency
Q3: Who guarantees money in a bank?
A: The government
B: The bank
C: The customer
D: The store
Answer: A: The government
Q4: What is a debit card?
A: A bank card for paying bills
B: A bank card for making cash withdrawals
C: A bank card for storing money
D: A bank card for making payments online
Answer: B: A bank card for making cash withdrawals
Q5: What is inflation?
A: A rise in the prices of goods and services
B: A rise in the wages of workers
C: A rise in the value of the currency
D: A rise in the interest rates
Answer: A: A rise in the prices of goods and services
Q6: What does it mean when a currency is devalued?
A: Its value increases
B: Its value decreases
C: Its value stays the same
D: Its value fluctuates
Answer: B: Its value decreases
Q7: What is a stock?
A: A loan
B: A company
C: A certificate of ownership
D: A mutual fund
Answer: C: A certificate of ownership
Q8: What is a bond?
A: A savings account
B: A certificate of ownership
C: A loan
D: A type of mutual fund
Answer: C: A loan
Q9: What is a credit card?
A: A bank card for storing money
B: A bank card for making cash withdrawals
C: A bank card for paying bills
D: A bank card for making payments online
Answer: D: A bank card for making payments online
Q10: What is a savings account?
A: A certificate of ownership
B: A type of mutual fund
C: A loan
D: A type of bank account where you can store money
Answer: D: A type of bank account where you can store money
Q11: What is a mutual fund?
A: A loan
B: A savings account
C: A type of bond
D: A type of investment that pools money from many investors
Answer: D: A type of investment that pools money from many investors
Q12: What is a budget?
A: A plan for spending money
B: A plan for saving money
C: A plan for investing money
D: A plan for borrowing money
Answer: A: A plan for spending money
Q13: What is interest?
A: Money earned over time
B: Money borrowed over time
C: Money loaned over time
D: Money saved over time
Answer: A: Money earned over time
Q14: What is a salary?
A: Money that is loaned
B: Money that is saved
C: Money that is earned
D: Money that is invested
Answer: C: Money that is earned
Q15: What is a loan?
A: Money borrowed over time
B: Money loaned over time
C: Money earned over time
D: Money saved over time
Answer: A: Money borrowed over time
Q16: What is debt?
A: Money saved over time
B: Money loaned over time
C: Money earned over time
D: Money borrowed over time
Answer: D: Money borrowed over time
Q17: What is a budget deficit?
A: When expenses exceed income
B: When income exceeds expenses
C: When a loan is taken out
D: When stocks are sold
Answer: A: When expenses exceed income
Q18: What is a currency exchange?
A: Buying and selling stocks
B: Buying and selling bonds
C: Buying and selling foreign currencies
D: Buying and selling goods and services
Answer: C: Buying and selling foreign currencies
Q19: What is a credit score?
A: A measurement of a person’s ability to borrow money
B: A measurement of a person’s ability to save money
C: A measurement of a person’s ability to invest money
D: A measurement of a person’s ability to pay their bills
Answer: A: A measurement of a person’s ability to borrow money
Q20: What is dividends?
A: Money earned from a loan
B: Money earned from a bond
C: Money earned from a savings account
D: Money earned from a company’s profits
Answer: D: Money earned from a company’s profits
