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Saving and Investing Practice

Authored by Anonymous Anonymous

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9th - 12th Grade

Used 34+ times

Saving and Investing Practice
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22 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Kylee’s Personal Finance class When has been discussing the importance of understanding liquidity and she is trying to explain the term to another student. Which statement is most correct description of liquidity?

how quickly and easily an asset can be converted into cash
the amount of savings available
a measurement of how much a person or household owns once all debts have been paid
the amount of money needed to pay for the necessities and comforts currently enjoyed

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

When taking advantage of the time value of money, which of the following is most likely to result in the largest return?

Invest a large principal amount of money and then make no additional investments
Invest as long as possible and at the highest interest rate possible.
Invest a small amount of money for a short period of time at the highest interest rate possible.
Invest at a high interest rate because interest is the only factor that affects return.

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Compound interest is best defined as:

Interest earned on the principal investment
Any form of interest earned from saving or investing
Earning interest on interest
The effect interest has on the total return on investment

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Dylan is preparing a presentation about saving and the presentation rubric says that he must include an explanation of compounding interest. Which of the following statements would be the best one to include in his presentation to show that he understands compounding interest?

interest earned on the principal investment
any form of interest earned from saving or investing
earning interest on interest
the effect interest has on the total return on investment

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

When a goal has been set to save $100.00 a month for an emergency fund of $2000.00, giving up food from the vending machine to achieve that goal is the:

opportunity cost
interest
specific part of the SMART goal
trade‐off

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Which statement best reflects the philosophy of “pay yourself first”?

An individual should save whatever money is left over after paying monthly bills
An individual should pay all fixed expenses before paying flexible expenses
An individual should set aside a predetermined amount of money for saving before using any of that money for spending.
An individual should spend money on the items and activities enjoyed in life before paying any other expenses

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

In relation to the other options, how liquid is a savings account?

More liquid than cash
Less liquid than mutual funds
More liquid than a Certificate of Deposit 
More liquid than a checking account

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