CIL Financial Literacy Quiz Review 2
Authored by Shawna Michelena
Financial Education
11th Grade
Used 2+ times
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of credit allows you to borrow money up to a certain limit and only pay interest on the amount borrowed?
Unsecured Credit
Revolving Credit
Installment Credit
Collateralized Credit
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which investment option involves ownership of a fraction of a corporation?
Bonds
Stocks
Annuity
Mutual Funds
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a common method to manage financial risk by spreading investments across various financial instruments?
Premium
Risk Retention
Diversification
Compounding
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of insurance policy is designed to cover costs associated with car accidents?
Property Insurance
Auto Insurance
Health Insurance
Life Insurance
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term used to describe the process of paying off a loan over time in regular installments?
Compounding
Amortization
FAFSA
Annuity
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