Financial Literacy assessment

Financial Literacy assessment

University

15 Qs

quiz-placeholder

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Financial Literacy assessment

Financial Literacy assessment

Assessment

Quiz

Other

University

Practice Problem

Hard

Created by

Luz Oralia Urquijo-Hawkes

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15 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is NOT a type of budget?

Balanced budge

Deficit budget

Surplus budget

Inflation budget

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the purpose of a credit score?

To determine a person's eligibility for a loan

To track a person's income and expenses

To calculate the amount of taxes owed

To measure a person's financial literacy

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is an example of an asset?

Mortgage

Credit card debit

savings account

student loan

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the best definition of interest?

The amount of money you owe on a loan

The amount of money you earn on an investment

The price you pay for borrowing money

The percentage of income you save each month

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the purpose of insurance?

To protect against financial loss in case of an accident or unexpected event

To provide additional income during retirement

To invest money for future financial goals

To pay off student loans

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

6. Which of the following is NOT a type of investment?

Stocks

Bonds

Real estate

Credit cards

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the definition of a loan?

A financial institution that helps manage money

Money borrowed that must be repaid with interest

Monthly payments made towards a mortgage

The process of saving money for future expenses

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