Financial Literacy Quiz for Students

What is a credit score?

• A measure of your income

• A numerical representation of your creditworthiness

• A list of your debts

• A type of bank account

Which of the following is a factor that affects your credit score?

• The color of your car

• Your payment history

• Your favorite movie

• The number of pets you have

What is the primary purpose of investing?

• To save money for a vacation

• To grow wealth over time

• To pay off debts

• To avoid taxes

Which of the following is a common type of investment?

• Savings account

• Certificate of deposit (CD)

• Checking account

• Credit card

What is a 401(k) plan?

• A type of health insurance

• A retirement savings plan offered by employers

• A government tax form

• A type of investment in real estate

Which of the following is a benefit of starting to save for retirement early?

• Higher interest rates

• More time for compound interest to grow your savings

• Lower taxes

• More vacation days

What is the first step in the tax filing process?

• Paying your taxes

• Gathering your financial documents

• Choosing a tax software

• Receiving a refund

Which form is used to report income from a job in the United States?

• W-2

• 1040

• 1099

• W-4

What is a career exploration technique?

• Watching TV shows

• Job shadowing

• Playing video games

• Shopping online

Which of the following is a life management skill?

• Cooking a meal

• Watching a movie

• Playing a sport

• Reading a novel