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STARSAVER GRADE 7 QUIZ

November 22, 2021

Welcome to your STARSAVER GRADE 7 QUIZ

Quiz Terms & Conditions

Name

Grade

School

Province

Parent Contact Number

Parent Email

1. What is the purpose of the South African Reserve Bank?

A. They make sure that borrowers can pay back the depositor’s money

B. A central bank that checks that the banks operate correctly

C. They make sure that banks have enough money to give to their depositors

D. All of the above

None

2. What is the definition of a need?

A. The basic requirements necessary for an individual to live and function

B. The basic requirements necessary for an individual to buy luxuries

None

3. What is the definition of wants?

A. The basic requirements to survive

B. Something we would like to have but can live without

None

4. True or false? You should share your bank card ATM pin with your friends?

A. True

B. False

None

5. What is the definition of income?

A. The money received from parents or from providing goods or services

B. The money you can use to buy sweets

None

6. How do we know how much of our income we can save and how much to spend?

A. Take a wild guess

B. Draw up a budget and minus your expenditure from your income. The remaining amount will be what is left to spend (profit).

None

7. True or false? Businesses provide products and services for people to buy?

A. True

B. False

None

8. True/False: Money that is put into a bank account is called a withdrawal?

A. True

B. False

None

9. What is the definition of an entrepreneur?

A. Someone who sells goods and services

B. A person who sets up and starts a business

C. A person who has the skills to turn an opportunity into a successful business

D. All of the above

None

Time's up

StarSaver

Rosebank Link, 6th Floor
173 Oxford Road, Rosebank
Johannesburg, 2196

011 645 6700

starsaver@banking.org.za

Welcome to your STARSAVER GRADE 7 QUIZ

StarSaver

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