
Personal Finance Quiz
Authored by Jessica Johnson
Business
11th Grade
Used 43+ times

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25 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Juan saved $1,000. Which account type offers the highest interest if he doesn't need the money for years?
Regular savings account
Money Market account
Checking account
Certificate of Deposit
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which is an effective personal saving strategy?
Wait until the end of the month and save whatever is left in your checking account
Save a certain percentage of each paycheck and deposit it directly into a savings account
Cover all of your wants and needs and save whatever is left over
Take out a payday loan so you can save before you receive your paycheck
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Your friend pays you with a check, and you lose it before cashing. What should you do first?
Write a new check for yourself
There’s nothing you can do. The money is lost.
Contact your friend to issue a stop payment
Contact your bank to issue a stop payment
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
All of the following about bank accounts are true EXCEPT...
If the bank is FDIC-insured, your money, up to the FDIC limit, is safe even if the bank fails
Many banks pay interest on the money you deposit into your savings account
Historically, savings accounts earn higher returns than investments in the stock market
Money in a checking account is usually easy to access via ATM, debit card or check
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
All of the following are true about prepaid cards EXCEPT...
Prepaid cards typically include a lot of fees
Prepaid cards are useful for unbanked people to make online purchases
Prepaid cards are a great way to build credit
Prepaid cards are accepted where debit and credit cards are accepted
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which represents possible goals from short-term to long-term? Save for...
Retirement, a house down payment, college tuition
A new cell phone, college tuition, a house down payment
A new cell phone, dinner with friends this weekend, a new bike
Retirement, college tuition, a vacation
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If you follow the 50-30-20 rule of budgeting, you'll allocate 50% of your income to ______________, 30% to ____________, and 20% to _____________.
Needs, wants, savings
Wants, needs, investments
Savings, needs, wants
Investments, savings, needs
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