Financial Literacy Quiz

What is the study of personal and family resources in achieving financial success called?

• Business Finance

• Personal Finance

• Investment Management

• Wealth Distribution

Which of the following is NOT a money management philosophy?

• Stay up to date with current economic conditions

• Spend more than you earn

• Take responsibility for managing financial success

• Take advantage of tax sheltering

According to Michelle Singletary, which of the following is NOT part of the "Seven Money Mantras"?

• It’s not an asset if you are wearing it

• Priorities lead to prosperity

• Debt is necessary for success

• Enough is enough

What is an example of a monetary asset?

• Stock investment

• Checking account

• Real estate property

• Jewelry collection

Which type of bank account is best for avoiding overdraft fees and bounced checks?

• Time deposit account

• Checking account

• Stock brokerage account

• Mutual fund

What is the main purpose of an investment portfolio?

• To store emergency funds

• To diversify investments and meet financial goals

• To provide immediate cash withdrawals

• To manage monthly expenses

A ______________ investor takes little risk and prioritizes capital preservation.

• Conservative

• Moderate

• Aggressive

• Passive

What is an example of a high-risk investment?

• Government bonds

• Savings account

• Real estate

• Precious metals and stones

What is the advantage of a money market account?

• Higher interest rates than a regular savings account

• Instant cash withdrawals without restrictions

• No minimum deposit requirements

• Fixed long-term maturity

Which of the following financial habits helps in maintaining good credit?

• Borrowing the maximum credit limit available

• Paying credit card balances in full each month

• Cosigning a loan for a friend

• Applying for multiple credit cards at once