A Financial Literacy Quiz for your 2nd Grader
AI's response in regular print | Beverly Hills, CFP®, Joe O'Boyle's in italics
“A Financial Literacy Quiz for your 2nd Grader”
1. What is money used for?
A) Eating
B) Sleeping
C) Buying things
D) Singing
2. If you save 1 dollar every week, how much will you have after 4 weeks?
A) $1
B) $4
C) $10
D) $5
3. What do people do at a bank?
A) Play games
B) Swim
C) Keep money safe
D) Grow plants
4. What's a piggy bank used for?
A) Riding
B) Eating
C) Saving money
D) Watching TV
5. If you buy something for $2 and pay with $5, how much change will you get back? A) $1
B) $2
C) $3
D) $0
6. What does it mean to earn money?
A) To find it on the ground
B) To make it with paper
C) To get it for doing a job or task
D) To paint it
7. If a store has a sign that says "Buy one, get one free," what does it mean?
A) You pay double
B) You get two for the price of one
C) Everything is free
D) You can't buy anything
8. Which coin is worth the most?
A) Penny
B) Nickel
C) Dime
D) Quarter
9. Why might you choose to save money?
A) To lose it
B) To water plants
C) To buy something later
D) To make it disappear
10. If you have 2 dimes and 2 nickels, how much money do you have?
A) 20 cents
B) 30 cents
C) 25 cents
D) 40 cents
11. What is a budget?
A) A type of dance
B) A plan for spending money
C) A new game
D) A kind of bird
12. If something costs 50 cents, how many quarters do you need to buy it?
A) 1
B) 2
C) 3
D) 4
13. Why might parents go to work?
A) To watch TV
B) To earn money
C) To take a nap
D) To go swimming
14. What do you call money you get on your birthday?
A) Your allowance
B) A gift
C) A toy
D) Your lunch
15. How can you help your money grow over time?
A) Plant it in the ground
B) Put it in the freezer
C) Save it and make wise choices
D) Paint it with colorful paints
16. What is the smallest value coin in the U.S.?
A) Nickel
B) Quarter
C) Penny
D) Dollar
17. If a toy's price is reduced from $10 to $8, how much is the discount?
A) $1
B) $2
C) $5
D) $3
18. Which is a reason to spend money wisely?
A) To have more toys than friends
B) To make wise choices and have enough for needs and wants
C) To make the money vanish
D) To be the boss
19. If you have 3 quarters, 2 dimes, and 4 pennies, how much money do you have?
A) $1.09
B) $0.99
C) $1.34
D) $0.84
20. What does it mean to donate money?
A) To hide it under your bed
B) To throw it away
C) To give it to help others
D) To put it in your shoe
Answer Key:
C, 2. B, 3. C, 4. C, 5. C, 6. C, 7. B, 8. D, 9. C, 10. B, 11. B, 12. B, 13. B, 14. B, 15. C, 16. C, 17. B, 18. B, 19. A, 20. C
What did you think? How did AI do?
About OpenAI’s ChatGPT tool:
GPT (short for "Generative Pre-training Transformer") is a type of language model developed by OpenAI that is trained to generate human-like text. ChatGPT is specifically designed for generating text in a conversational style. It is a machine learning model and has been trained on large datasets of real-world conversations in order to learn the patterns and styles of human communication.
Joe O'Boyle is the founder and principal of O'Boyle Wealth Management, a full service financial planning and investment management firm, located in Beverly Hills, California. Joe O’Boyle was named to InvestmentNews 40 under 40 class of 2016, and has a catalog of financial planning and investing articles on Money.com & U.S. News. Disclosure information.