210 - Financial Literacy 101 Breakdown Quiz - Coopling.com.br

What is the primary purpose of creating a budget?

• To track income and avoid spending money altogether.

• To create a balance between income and expenses while setting aside money for goals.

• To limit spending on essential items.

• To plan for unexpected windfalls.

What is the best way to use credit cards responsibly?

• Max out the credit limit for rewards.

• Only pay the minimum balance each month.

• Pay the full balance each month to avoid interest charges.

• Avoid using credit cards altogether.

What is the first step in setting financial goals?

• Begin saving immediately.

• Identify your short-term and long-term aspirations.

• Borrow money to invest in large goals.

• Avoid creating goals to focus on daily expenses.

Which strategy is effective for managing loans and debt?

• Prioritize paying off the loan with the highest interest rate first.

• Consolidate all loans into a single larger loan.

• Only pay the minimum amount required each month.

• Ignore loans until they become urgent.

What type of insurance is most important for protecting your income in case of illness or injury?

• Health insurance

• Disability insurance

• Homeowner's insurance

• Auto insurance

What is a key principle of investing for retirement?

• Avoid diversification to focus on high-growth opportunities.

• Start investing as early as possible to maximize compound growth.

• Invest only in low-risk bonds.

• Wait until mid-life to begin retirement savings.

What is a common red flag of a financial scam?

• Guaranteed high returns with no risk.

• Detailed, transparent investment plans.

• Advice from certified financial advisors.

• Requests for standard personal documentation.

What should you consider when planning your career path?

• Only salary expectations.

• Alignment with personal skills, interests, and long-term goals.

• Avoid training or education to save money.

• Choosing a career with the most vacation days.

Why is it important to file your taxes on time?

• To avoid penalties and interest charges.

• To delay paying taxes as long as possible.

• To maximize your refund automatically.

• To keep your personal documents organized.

Which skill is most important for maintaining a job with good earning potential?

• Emotional intelligence and adaptability.

• Avoiding workplace communication.

• Strictly following instructions without flexibility.

• Avoiding skill development or training.