saving and investing

saving and investing

7th Grade

24 Qs

quiz-placeholder

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saving and investing

saving and investing

Assessment

Quiz

Social Studies

7th Grade

Medium

Created by

James Samaha

Used 34+ times

FREE Resource

24 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a bond?

A. A legal agreement to perform a service for a specified amount of money.

B. An IOU issued by a company, municipality, or the federal government in exchange for a loan from an investor that will be repaid with a set rate of return.

C. A fee received for providing financial advice.

D. A commitment to set aside a portion of one's earnings for retirement.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a financial institution do?

A. Issues government bonds exclusively.

B. Provides money-related services.

C. Offers free financial education to the public.

D. Prints and distributes currency.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is interest?

A. The principal amount of a loan.

B. A fee paid for the use of money.

C. The total amount of money saved over a year.

D. A tax on financial transactions.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does it mean to invest?

A. To save money in a checking account.

B. To purchase items for personal use.

C. To commit money to gain a profit or earn interest.

D. To lend money to friends and family.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does "pay yourself first" mean?

A. To spend money on personal luxuries before paying bills.

B. To lend money to oneself.

C. To automatically save a specified amount from a paycheck for future use.

D. To prioritize paying off personal debts before other expenses.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a MUTUAL FUND?

A government-issued savings plan.

A collection of stocks or bonds of various corporations.

A private investment club.

A type of insurance policy.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does OPPORTUNITY COST mean?

The cost of starting a new business.

The interest rate on a loan.

The next best alternative given up when making a financial choice.

The expenses incurred while investing.

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