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Financial Literacy Quiz

Authored by DONALD SAINT-GERMAIN

Life Skills, Other

9th - 12th Grade

Used 14+ times

Financial Literacy Quiz
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10 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Suppose you have $100 in a savings account earning 2 percent interest a year. After five years, how much would you have?

Exactly $102

More than $102

Less than $102

Don’t know

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Imagine that the interest rate on your savings account is 1 percent a year, and inflation is 2 percent a year. After one year, would the money in the account buy more than it does today, exactly the same or less than today?

More

Same

Less

I don't know

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or false: Buying a single company’s stock usually provides a safer return than a stock mutual fund

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do we call a fee or a charge that is collected for using someone's money?

Deposit

Interest

Loan

Cheque

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following scenarios demonstrates a good budgeting practice?

Tom's monthly income is less than his monthly expenses.

Jerry’s monthly taxes are equal to her monthly expenses.

Mickey spends less money each month than he earns at his job.

Batman spends more money each month than he earns at his job.

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

After creating his budget, John realized his expenses exceed his income. To resolve this issue he can do which of the following?

Go on a shopping spree

Invest more in the stock market

Work fewer hours

Eat out less frequently

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is something you already own (positive cash value)?

asset

liability

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