How can you know what your net worth is?
Financial Literacy: Terms and Definitions

Quiz
•
English
•
5th Grade - Professional Development
•
Medium
Dinara Yeung
Used 6+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
By looking at your paycheck: your net worth is your salary.
By adding the value of all your assets and subtracting your liabilities.
By adding the value of all your liabilities and subtracting your assets.
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a mortgage?
Money borrowed from a bank to buy a house
Money borrowed from a bank to pay for college
A thing that people collect as an investment
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
How often should we assess our short- and medium-term goals?
Every 3-6 days
Every week
Every 3-6 months
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What could be an example of a short-term goal?
Saving for a house
Paying off a credit card bill
Traveling in retirement
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What could be an example of a medium-term goal?
Paying off a credit card bill.
Saving for a house.
Traveling in retirement.
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What could be an example of a long-term goal?
Saving for Christmas gifts.
Paying off a credit card bill.
Traveling in retirement.
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What information does your credit report contain?
Your short-, medium- , and long-term goals.
The status of your credit accounts and your bill paying history
The value of the property and money that you have
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