40 Money and Business Trivia Questions for Kids
The easiest money and business questions in the game, picked for younger players. Every one comes with the answer and a short explanation of why it is right.
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Easy Money and Business Questions and Answers
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What does APR stand for in consumer finance?
Annual percentage rate
APR expresses the yearly cost of borrowing as a percentage. It is intended to make competing loans and credit products easier to compare, although exact fee rules can vary by jurisdiction.
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What does ATM stand for?
Automated teller machine
The machine is named after the human bank teller whose job of handing out cash it took over.
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What is the official currency of Thailand?
baht
The name originally referred to a unit of weight used for weighing silver, and one baht still divides into 100 satang. Thailand let the currency float in 1997 after its peg to the US dollar collapsed, a move that touched off the wider Asian financial crisis.
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What happens in a bank run?
Many depositors withdraw at once
A bank run occurs when many depositors try to withdraw their funds at the same time, often because they fear the bank may fail.
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What kind of financial instrument is a bond?
Debt
A bond is a debt instrument in which an investor lends money to an issuer, typically receiving interest payments and repayment of the principal at maturity. Bonds can be issued by governments, municipalities, and companies.
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What does business revenue usually represent?
Money from sales
Revenue is income generated from a business's ordinary activities, such as selling goods or services.
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Which financial statement shows cash actually entering and leaving a business, rather than profit earned?
Cash flow statement
It splits transactions into three buckets, operating, investing and financing, so a reader can see whether cash from day-to-day sales alone is enough to keep the business running. Accrual accounting can log a sale as profit the moment it is invoiced, long before the customer actually pays.
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What is a checking account commonly used for?
Everyday payments
Checking accounts are commonly used for frequent everyday transactions and payments, while the other choices describe savings or investment purposes.
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What does CEO stand for?
Chief executive officer
CEO is the abbreviation for chief executive officer, the senior executive responsible for leading an organization.
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Numismatics is the study and collecting of what?
Coins and paper money
Numismatics covers coins, banknotes, tokens and medals, how they were struck and what they reveal about the states that issued them. The word comes from the Greek nomisma, meaning current coin.
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A savings balance has already earned interest. With compound interest, the next interest payment is worked out on what?
The principal plus the interest already earned
Compound interest is paid on the original principal plus every payment of interest already added to the balance, so the amount earning interest keeps growing and the balance rises faster and faster. Simple interest is paid on the original principal alone, and never on the interest.
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What is the amount currently owed on a credit card called?
Balance
A credit card balance is the total amount you currently owe the card issuer. It decreases when you make payments and increases when you make purchases or incur charges.
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Which credit-card amount keeps the account current but still leaves interest running?
Minimum payment
The minimum payment is the smallest amount you must pay by the bill’s due date. Paying only this amount can make repayment take longer and may increase the interest you pay.
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What does a consumer credit report primarily contain?
Borrowing and repayment history
In the United States, three bureaus, Equifax, Experian and TransUnion, compile these reports from data that lenders submit each month, and most negative entries drop off after seven years under federal law. The credit score lenders use to make decisions is calculated separately, from the data the report holds.
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When used for a purchase, what does a debit card usually access?
Existing account money
A debit card generally draws money from the linked deposit account.
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What is a company's payout of profits to its shareholders called?
A dividend
A dividend is a slice of a company's profits handed to shareholders, usually in cash and often every quarter. Profit that is not paid out is kept in the business and reinvested, which is why fast-growing companies frequently pay no dividend at all.
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What is the official currency of Australia?
dollar
Australia's official currency is the dollar.
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What is the official currency of Canada?
dollar
Canada's official currency is the dollar.
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What is the official currency of New Zealand?
Dollar
New Zealand switched from pounds, shillings and pence to the decimal New Zealand dollar in 1967. Its one-dollar coin features a kiwi bird, the same nickname currency traders use for the money itself.
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The clothing brand Superdry, whose garments are covered in Japanese lettering, was founded in which country?
England
Julian Dunkerton and James Holder launched Superdry in Cheltenham in 2003 after a trip to Tokyo. The Japanese wording on the clothes was lifted from a beer label and reads as broken Japanese to native speakers.
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What is an entrepreneur?
A business founder
An entrepreneur is someone who starts and builds a business, usually taking on the financial risk involved. Entrepreneurs often develop new products, services, or ways of doing business.
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What is the official currency of Germany?
euro
Germany's official currency is the euro.
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What does FDIC stand for in US banking?
Federal Deposit Insurance Corporation
The FDIC insures eligible deposits at participating US banks up to specified limits. It was created during the banking reforms of the 1930s.
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What flower was at the centre of the famous 17th-century Dutch speculative craze?
Tulips
Tulips were at the centre of the famous Dutch tulip mania, a speculative frenzy in the 1630s when rare bulbs were traded at extraordinarily high prices before the market collapsed in 1637.
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Which company assembles electronics, including iPhones, for major brands?
Foxconn
Foxconn, also known as Hon Hai Precision Industry, manufactures and assembles electronics for major brands.
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What is the official currency of Switzerland?
franc
Switzerland's official currency is the franc.
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Michelin, the tyre maker whose guide awards restaurants their stars, was founded in which country?
France
Andre and Edouard Michelin began making tyres at Clermont-Ferrand in 1889 and published the first Michelin guide in 1900, a free handbook for motorists listing garages, hotels and places to eat.
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Under a typical franchise agreement, what is the franchisee paying the franchisor for?
The right to trade under its brand and run its business system
A franchisee owns and funds the outlet but pays an upfront fee and ongoing royalties for the franchisor's name, recipes, suppliers and operating manual. The franchisor spreads its brand without paying for each new location, and the franchisee opens under a name customers already trust.
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The discount supermarkets Aldi and Lidl both started in which country?
Germany
Karl and Theo Albrecht built up their mother's shop in Essen and in 1962 named the chain Aldi, short for Albrecht Diskont. Lidl grew out of a family wholesale firm in Heilbronn and opened its first store in 1973.
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What does GDP stand for?
Gross domestic product
Gross domestic product is the total value of goods and services produced within a country over a period, usually a year.
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Who founded the Dearborn automaker behind the Model T?
Henry Ford
Henry Ford founded Ford Motor Company in 1903.
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What does Inc. stand for after a company's name?
Incorporated
Incorporated means the business has been formed into a corporation, a legal entity separate from the people who own it.
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What is the amount a policyholder pays before insurance contributes called?
Deductible
A deductible is the amount a policyholder pays out of pocket before insurance begins contributing to a covered claim. Choosing a higher deductible can often lower the policy’s premium because the policyholder takes on more of the initial cost.
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In accounting, which inventory category covers stock sitting in the warehouse waiting for a customer order?
Finished goods
Manufacturers split inventory into raw materials, work in process and finished goods. Only finished goods can be shipped as they are, so that figure shows how much a company could sell today.
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Which document asks a customer to pay for goods or services already supplied?
An invoice
A quote offers a price, a purchase order is the buyer committing to it, an invoice asks for the money once the work is done, and a receipt confirms the money arrived.
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What does IPO stand for?
Initial public offering
An IPO is a company's first sale of shares to public investors on a stock exchange. It can raise capital and create a public market for the shares.
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Where does the name adidas come from?
Its founder's nickname and surname
Adolf Dassler, known as Adi, registered adidas in 1949, joining his nickname to the first letters of his surname. He made his shoes in Herzogenaurach in Bavaria.
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Who founded Amazon as an online bookseller?
Jeff Bezos
Jeff Bezos founded Amazon as an online bookstore in 1994.
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What is the official currency of Sweden?
Krona
Sweden uses the krona, plural kronor. It joined the European Union in 1995 but voted against adopting the euro in a 2003 referendum and has kept its own currency since.
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What is the official currency of Norway?
Krone
Norway uses the krone, plural kroner, issued by Norges Bank. Norwegians have voted against joining the European Union twice, in 1972 and 1994, and the krone has never been replaced.
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