
Financial Literacy
Quiz
•
Professional Development
•
8th Grade
•
Practice Problem
•
Easy
Brian Anderson II
Used 1+ times
FREE Resource
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is financial literacy?
Being able to afford anything you want
Understanding how to manage your finances effectively
Learning how to make more money
Knowing how to spend money on entertainment
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the 50/30/20 rule mentioned in the text?
50% on bills, 30% on savings, and 20% on entertainment
50% on needs, 30% on wants, and 20% on savings
50% on savings, 30% on needs, and 20% on wants
50% on entertainment, 30% on bills, and 20% on savings
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does income refer to?
Money you have coming in
Money saved in a bank
Money earned from investments
Money spent on liabilities
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is saving regularly important?
To have money for unexpected expenses
To buy more assets immediately
To spend more on entertainment
To be able to lend money to friends
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an asset?
Something you own
Something you owe
A type of expense
Money you borrow
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the benefit of investing in an index fund or ETF?
Quick and large returns on investment
Broad exposure to many different companies
Guaranteed profit with no risk
Investing in a single company
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is compound interest?
A fixed interest rate for life
Interest on both the original amount and accumulated interest
A special interest rate for students
Interest on the original amount only
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