Financial Literacy Quiz

Financial Literacy Quiz

12th Grade

10 Qs

quiz-placeholder

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Financial Literacy Quiz

Financial Literacy Quiz

Assessment

Quiz

Other

12th Grade

Practice Problem

Hard

Created by

James Stockton

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main reason why many Americans are stressed about their finances?

They are living beyond their means

They don't make enough money

They don't know how to save

They have too much debt

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step towards financial literacy?

Understanding credit card debt

Creating a budget

Investing in the stock market

Maximizing income

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the recommended percentage of monthly income that should go towards bills and housing?

20%

30%

50%

70%

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of saving for unexpected expenses?

To buy luxury items

To pay off debt

To build assets

To cover unforeseen costs

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the advantage of investing in index funds or ETFs?

Higher returns

Lower risk

Guaranteed profits

Individual stock ownership

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the most powerful force in the universe according to Albert Einstein?

Compound interest

Stock market

Credit cards

Savings account

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the recommended approach to credit card debt?

Pay the minimum amount due

Max out credit cards

Avoid credit card debt

Use credit for everyday expenses

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