Savings Quiz Review

Savings Quiz Review

9th Grade

18 Qs

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Savings Quiz Review

Assessment

Quiz

Business

9th Grade

Easy

Created by

Kristen Wojtkowiak

Used 4+ times

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these statements about saving is INCORRECT?

It is extremely difficult to open a savings account, as you typically need at least $10,000 for your initial deposit

Savings accounts aren't necessary if you invest

Savings accounts aren't necessary if you have a checking account

Savings accounts help you "pay yourself first"

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an effective strategy for personal saving?

Put whatever you have leftover from paying bills in a piggy bank

Save a certain percentage of your pay each month

Save $5 a month, no matter what

Hide some cash under your mattress

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements about banks is FALSE?

If it is FDIC-insured, your money is safe even if the bank fails

Money in a bank is usually easy to access via ATM, debit card or check

Many banks pay interest on the money you deposit with them

Historically, savings accounts earn higher returns than investments in the stock market

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

You should put 20% of your take home pay into savings

True

False

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

You write checks from your savings account.

True

False

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

A short term financial goal would be to earn enough money this weekend to buy your friend a birthday present next week.

True

False

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

A medium term financial goal would be to save up enough money to buy a ticket to a music festival next summer.

True

False

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