Financial Literacy Quiz

What are some common warning signs of an online scam?

• They contact you unexpectedly

• They ask to meet up in real life

• They approach you in a relaxed manner

• Offers seem too good to be true

How can you protect yourself from scams?

• Reveal your personal information online

• Click on links that promise you gifts and prizes

• Always trust emails from unknown senders if it looks official

• Only click on trusted and safe lnks

What are some common scam examples?

• Romance scams

• Online gaming scams

• Fitness and weight loss scams

• Employment scams

Budgeting allows you to allocate enough money such that you can

save more for future financial goals.

• True

• False

What is the 50/30/20 rule?

• 50% of income for needs, 30% for wants, 20% for emergencies

• 50% of income for emergencies, 20% for wants, 30% for needs

• 50% of income for wants, 30% for needs, 20% for emergencies

• There is no such rule

How should you save money?

• Budgeting

• Not spending any money on anything

• Spending less on everyday items, tracking expenses

• Tracking expenses

Overspending is acceptable if my parents give me more lunch money.

• True

• False

What are the advantages of banking services?

• Bank security

• Savings

• Bank convenience

• No advantages

What ways do banks allow you to stash your cash or borrow money?

• Savings accounts

• Checking accounts

• Banks only allow you to stash cash in a locked drawer

• Loan services

What is a loan service like?

• Getting money which you will never have to pay back

• It is illegal

• Loans are only for rich people

• Borrowing money