PRACTICE - Financial Literacy in the Classroom

We tend to think of testing as something you do AFTER you learn something as a check on what you have learned.  But testing can also be a learning tool and our question feedback can help you better understand a concept or offer additional information to push your knowledge further.  It's OK if you don't know all the answers.  Building financial confidence and competence starts with awareness.  Becoming familiar with financial literacy topics will better prepare you to make financial decisions in the future by recognizing issues, identifying options and knowing what questions to ask.

 

Take the ultimate test by participating in the Financial Literacy Competition.  Taking place twice a year in May and December, this competition is open to students in Grades 9, 10 and 11.  The competition consists of 60 questions in 60 minutes and covers a variety of financial literacy topics. Thanks to financial support from Genworth Canada, students can compete online from the comfort of their classroom and top performing students receive financial support for post-secondary studies.  Ask your teacher about registering a class or club.  Learn more here.

 

Please note: The information and resources made available on this site are the property of the University of Waterloo and the School of Accounting and Finance.  The information and resources are provided for educational use only and are not to be copied, reproduced, or used for any other purpose without the express written consent of the University of Waterloo.

Accounting

It is difficult to understand business operations without being able to read, understand and analyse financial statements. Test your knowledge of accounting basics with this short quiz. If you want to learn more, explore your high school's business course offerings. The material in this quiz complements the material covered in the Grade 9/10 Introduction to Business course (Ontario) and many schools offer additional courses in accounting in Grade 11 and 12.

Accounting (Contest Preparation)

Accounting information is at the centre of a business - without it, how would we know how a business is doing? Is it making money? Will it be able to continue to meet its customers' needs? How much money is needed to support future growth? Take this short quiz to test your knowledge of accounting concepts and your ability to interpret accounting information as you prepare to challenge the FLC.

Banking

Banking (contest preparation)

The World Economic Forum, in its annual competitiveness rankings, ranks Canada's banking system as one of the soundest in the world. Do you know what makes Canada so strong? Test your banking knowledge as you prepare to challenge the FLC.

Do you have your own bank account and debit card? If yes, fantastic! You've already entered the world of banking. Test your basic knowledge of banking concepts by taking this short quiz. If you want to learn more, explore your high school's business course offerings. The material in this quiz complements the material covered in the Grade 9/10 Introduction to Business course (Ontario).

Credit

At some point, you're likely to use credit to make a purchase. Perhaps for a credit card to make a purchase online, perhaps for a loan to purchase your first car, or maybe for a mortgage to buy your first home. Knowing when to use credit and how much credit you can afford is critical to your financial health. Test your knowledge of credit basics by taking this short quiz. If you want to learn more, explore your high school's business course offerings. The material in this quiz complements the material covered in the Grade 9/10 Introduction to Business course (Ontario).

Credit (contest preparation)

Credit - at some point in your life you are likely to need it. Establishing and maintaining a good credit rating means credit will be available to you when you do. Test your credit knowledge by taking this short quiz as your prepare to challenge the FLC.

Economics

Supply and demand. Do you understand these terms and more importantly, understand their relationship to each other? Test your knowledge of Canada's economy by taking this short quiz. If you want to learn more, explore your high school's business course offerings. The material in this quiz complements the material covered in the Grade 9/10 Introduction to Business course (Ontario) and some schools offer additional courses in economics in Grade 11 or 12.

Economics (contest preparation)

Economists are always making predictions for the month and year ahead using various economic indicators. You can find information on important economic indicators for the Canadian economy at https://canadabusiness.ca/business-planning/market-research-and-statistics/canadian-economy/. Test your knowledge of economics by completing this short quiz as your prepare to challenge the FLC.

Home Ownership

Buying your first home is likely one of the most significant purchases you will make and the largest debt that you will manage in your lifetime. To welcome our sponsor, Genworth Canada, we're introducing a new quiz to build and test your knowledge of home ownership. Genworth Canada is the largest private residential mortgage insurer in Canada and is committed to the promotion of responsible home ownership by enhancing the knowledge of future home owners like you.

Income Management and Budgeting

Budgeting is an essential skill. Being aware of your income and expenses not only helps you manage day to day but also helps you plan and save for the future. Test your knowledge of income management and budgeting by taking this short quiz. Don't forget to practice your budgeting skills by completing our two activity workbooks; Your Money, Your Future and Who Will You Become?.

Income Management (contest preparation)

You've probably heard the expression "living within your means". Why is this important? Because understanding your sources of income and the costs of your needs and wants helps you manage your money wisely - not only so that you're prepared for today, but also so that your future plans can become a reality. Further test your knowledge of income management and budgeting concepts by taking this short quiz as your prepare to challenge the FLC.

Investing

Saving and investing are two different things. Without savings, you won't have money to invest. Do you understand some of the basics of saving and investing? Test your knowledge with this short quiz. If you want to learn more, explore your high school's business course offerings. The material in this quiz complements the material covered in the Grade 9/10 Introduction to Business course (Ontario).

Investing (contest preparation)

Risk and return - an important concept in investing. At different stages of your life, your level of comfort with the risk and return tradeoff will vary. Understanding the factors that influence risk and return are essential to making smart investment decisions. Further test your investment knowledge with this short quiz as you prepare to challenge the FLC.

Comprehensive

Test your knowledge of all 6 topics in one comprehensive quiz. It is recommended that you complete this quiz after successfully completing each of the themed quizzes.

Comprehensive (contest preparation)

Have you mastered each of the themed quizzes? Ready to put your combined skills and knowledge to the test as you prepare to challenge the FLC? Take this short comprehensive quiz that combines all 6 themes. It is recommended that you complete each of the themed quizzes before attempting this quiz.