12_4 Million Dollar Formula for Financial Success

Open Ended

Why is it important for high school students to learn about financial success early in life?

Multiple Choice

Which of the following is an example of a short-term financial goal for a student?

• Saving for retirement

• Saving for a car or college textbooks

• Buying a house

• Building emergency funds

Open Ended

What are the three main categories in the 50/30/20 budget rule, and what types of expenses belong in each?

Multiple Choice

According to the 50/30/20 budget rule, what percentage of your income should be allocated to savings?

• 20%

• 30%

• 50%

Multiple Choice

Which of the following is NOT an essential banking account or tool mentioned for managing your finances?

• Retirement Account

• Checking Account

• High-Yield Savings

• Mobile Banking App

Multiple Choice

Credit cards and car loans are a GREAT idea for most people.

• True

• False

Multiple Choice

Mia, Olivia, and Avery are discussing their financial goals. What is the primary purpose of setting financial goals for them?

• To impress others with their wealth

• To plan and achieve their desired financial future

• To accumulate as much money as possible

• To have a flexible approach to spending

Multiple Choice

What would NOT constitute a "Short Term Goal"?

• Vacation

• Student Loan Payment

• Rent Payments

• Retirement Fund

Multiple Choice

In the "50-30-20" plan, what should 30% of your monthly income go towards?

• Wants

• Needs

• Savings

• None of the above

Multiple Choice

What is the key to achieving a financial goal?

• Getting more money

• Saving more money

• Borrowing more money

• Controlling your money

Multiple Choice

What is the purpose of goal setting in the financial planning process?

• to provide direction for planning and action
• to differentiate between needs and wants
• to be successful in life

Multiple Choice

Which of the following is an example of a family asset?

• Credit card balance

• Mortgage

• Cash

• Rent

Multiple Choice

This is how net worth is calculated...

• Liabilities-Assets=Net Worth
• Assets+Liabilities=Networth
• Assets-Liabilities=Net Worth

Multiple Choice

Besides Income, what is the best tool to generate wealth?

• Investments

• Savings

• Loans

• Credit Cards

Multiple Choice

What does APR stand for?

• Annual Percentage Rate
• A Percent Rate
• Annually Percentage Ratio

Multiple Choice

A high FICO score means you have better credit than someone with a low FICO score. 

• False
• True 

Multiple Choice

How can a cardholder avoid paying interest on a credit card?

• Do not pay anything

• Pay the minimum payment after its due date

• Pay the balance in full every month

• Pay the minimum balance every month

Multiple Choice

Grace Period - The time allowed to pay your balance without being charged a finance charge. Usually 25 to 30 days. 

• False
• True

Multiple Choice

What are the consequences of missing a credit card payment?

• Increased credit limit, waived late fees, improved credit score, no legal action

• Late fees, increased interest rates, damage to credit score, potential legal action

• No consequences, lower interest rates, improved credit score, no legal action

• Decreased credit limit, waived late fees, improved credit score, no legal action

Multiple Choice

Examples of penalty fees include:

• over-the-limit fee
• late payment fee
• returned payment fee
• all of these

Multiple Choice

When you have money to invest and you are concerned with how much *extra* money you can earn, with which concept are you concerned?

• Return

• Risk

Multiple Choice

The type of investment account that people create for after they finish working is known as a

• Certificate of Deposit

• Savings account

• Mutual fund

• Retirement account

Multiple Select

Which of the following types of investment accounts are considered "low return"? (select more than one)

• Stocks

• Certificate of Deposit

• Mutual fund

• Retirement account

• Savings account

Multiple Choice

When you have money to invest and you are concerned with how safe your investment will be (so that you don't lose money), with which concept are you concerned?

• Return

• Risk

Multiple Choice

The type of investment account that helps people store their money for easy access if needed is known as a...

• Certificate of Deposit

• Savings account

• Retirement account

• Mutual fund

Multiple Choice

The type of investment account that allows investors to own shares or have "partial ownership" in a particular company is known as (a)...

• Certificate of Deposit

• Mutual fund

• Retirement account

• Stocks

Multiple Choice

Money that your bank account earns

• Balance
• Checking
• Savings
• Interest

Multiple Choice

Mikey is going to college and will not be home often to visit his home bank. He is responsible for his own bills. He needs a way to access his money and track what he spends.

• Personal Loan

• Online Banking

• Business Loan

Multiple Choice

Donny owes $20 to his grandpa, and he wants to quickly pay him back. He lives far away, so he is planning on mailing it to him. He does not want to mail cash. What can he send him?

• Check

• Credit Card

• Personal Loan

• None of the Others

Multiple Choice

This who a check is written to.

• payer

• banker

• payee

Multiple Choice

Which type of investment fund can be traded throughout the trading day?

• Mutual Funds

• Target Date Funds

• Exchange-Traded Funds (ETFs)

Multiple Choice

What makes ETFs unique in terms of initial investment?

• They require high minimum investments

• They can only be purchased in whole shares

• They offer fractional shares for as little as one dollar

• They have fixed minimum investment requirements

Multiple Choice

Location stockbrokers trade the best stocks in the USA

• New York Stock Exchange

• NASDAQ

Multiple Choice

Follows 500 stock prices to measure the health of the market

• Dow Jones

• S & P 500

• NYSE

• NASDAQ

Multiple Choice

When stock prices decrease as investors fear their ability to make a profit

• Bull Market

• Bear Market

• Shares Market

Multiple Choice

When stock prices increase steadily as investors anticipate their ability to earn a profit

• Bull Market

• Bear Market

• Dividends

• Liquidity

Multiple Choice

Symbol that indicates whether the trading price of a single share has increased or decreased from the previous day's closing price

• Ticker

• Ticker Symbol

• Directional Arrows

• Stock Symbol

Multiple Choice

Letters used to identify a corportation

• Ticker

• Stock Symbol

• Uptick

• Nickname

Multiple Choice

What company has the ticker symbol DIS?

• DEX Stock Industries

• Diagnostic Industries & Subsidiaries

• Disney

• Delek US Holdings

Multiple Choice

What company has the ticker symbol F?

• Ferrari N.V.

• Ford Motor Company

• Fortnite CO

• Future Finn Tech Group Inc.

Multiple Choice

What companies ticker symbol is RACE?

• Race Management

• Bryn Mawr Racing

• Ferrari N V com

• Startline Racing Co

Multiple Choice

What is Snap Chat's ticker symbol?

• SNPCHT

• SNP

• CHAT

• SNAP

Multiple Choice

What is Apple's ticker symbol?

• APLE

• AAPL

• APLE

• APQ

Multiple Choice

What is the ticker symbol of Colgate Palmolive Company?

• CL

• COLPCO

• COL

• CPCO

Multiple Choice

What is: part of a company's profits (earnings) that is paid as money or shares to stockholders. In The Stock Market Game, any dividends received are listed in Transaction History and are included in the portfolio's total equity.

• Stock

• Share

• P/E Ratio

• Divident

Multiple Select

Which of the following are recommended steps to start investing early?

• Research index funds and ETFs

• Open a brokerage account

• Start with large investments only

• Stay consistent with automatic deposits

Open Ended

Why is it important to review your financial progress monthly and adjust your plan as needed?

Open Ended

How do you think setting clear financial goals can impact your financial future?

Multiple Choice

What are the three types of financial goals you should set according to the lesson?

• Short-term, mid-term, and long-term goals

• Budgeting, saving, and investing

• Spending, earning, and borrowing

• Immediate, delayed, and future goals