Test your Financial Know-How and Resource IQ

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* 1. When grocery shopping, how can you save?

Check the weekly flyer

Compare prices between stores

Check the per unit cost on grocery store labels

All of the above

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* 2. What does the acronym TFSA stand for?

Total Fund Savings Account

Tax-Free Savings Account

Transportation Flying Security Administration

Top Financial Savings Account

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* 3. What is a credit report?

A list of credit card transactions

A list of credit cards you have

A list of assets you own

A record of your credit history

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* 4. What could influence the amount of interest you pay on a loan?

Length of the loan

Your credit score

The loan amount

All of the above

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* 5. Having a household budget can reduce financial stress.

True

False

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* 6. Which of the following provides funding to Financial Assistance to support students?

Mo' Money

The Mohawk College Foundation

The Learning Support Centre

All of the Above

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* 7. What is the difference between a bursary and a scholarship

A scholarship is an award for academic merit and a bursary is available to students with proven need.

A scholarship is an award for athletes and a bursary is available to students with proven need.

A scholarship is a monetary award you can keep and a bursary is an award you have to pay back

None of the above

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* 8. Which of the following could hurt your credit score?

Having your credit checked often

Using the same credit card for ten years

Missing a bill payment

Paying bills online

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* 9. Where does the Mohawk College Foundation receive funds to support students through Financial Assistance?

Grants from the government and community partners

Donors in the community and Mohawk Alumni

Mohawk employee donors

All of the Above

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* 10. Where can you find the Money Matters Module?

Mohawk email

MyCanvas

Mo’ Money website

Your bank’s website