What does "Financial Security" mean?

What does "Financial Security" mean?

11th Grade

47 Qs

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What does "Financial Security" mean?

What does "Financial Security" mean?

Assessment

Quiz

Other

11th Grade

Practice Problem

Medium

Created by

Barbara Dyer

Used 15+ times

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47 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does "Financial Security" mean?

The ability to invest money for the future

Having enough money NOW and SAVING for the FUTURE

The condition of having a high-paying job

The ability to spend money without planning

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

what is the main reason for saving ?

Education

Financial security (peace of mind)

Home Ownership

Estate Planning

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT one of the long-term goals for why you should save?

Education

Retirement Income

Investing

Health

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not one of the components of the 3 prong approach to retirement income ?

Pensions

Social Security

Retirement Savings

all are part of retirement income

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Social Security supposed to be when you retire?

The only source of income

One of multiple sources of income

A loan to be repaid

A temporary financial assistance

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a characteristic of a regular savings account?

Penalty for early withdrawal

Variable interest rate

Higher liquidity

Earns fixed interest payable at the maturity date

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a feature of a Certificate of Deposit (CD)?

Variable interest rate

High liquidity

Penalty for early withdrawal

Ability to write checks

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