Financial Literacy Quiz Part 2

Financial Literacy Quiz Part 2

7th Grade

15 Qs

quiz-placeholder

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Financial Literacy Quiz Part 2

Financial Literacy Quiz Part 2

Assessment

Quiz

History

7th Grade

Practice Problem

Medium

Created by

Quiana Diggs

Used 1+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of a home value is traditionally saved for a down payment?

30%

10%

20%

5%

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the recommended savings percentage of your income to retire comfortably?

25-40%

10%

15%

50%

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many months of expenses should your emergency fund cover at a minimum?

Three months

Twelve months

Six months

One month

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the concept of 'tactical budgeting'?

Only saving, no spending

Budgeting weekly

Tracking every penny

Budgeting for long periods

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What advantage do young people have in terms of financial growth?

Better education

Fewer expenses

Time

More income

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens if you choose a penny that doubles every day over $3000?

It remains one penny

It decreases in value

It's worth $10 million after 30 days

It's worth $3000

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important to have a good credit score?

It increases your salary

It decreases your tax

Only needed for buying luxury items

Easier to get loans and make large purchases

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