Financial Literacy

What is the primary purpose of a resume?

• To list your hobbies

• To showcase your skills and experiences to potential employers

• To provide your personal contact information

• To describe your favorite books

Which of the following is considered a fixed expense?

• Groceries

• Rent

• Entertainment

• Clothing

What is the main benefit of having a savings account?

• It allows you to write checks

• It earns interest on your deposited money

• It provides a credit line

• It offers a debit card

What is a budget?

• A plan for spending and saving money

• A list of all your debts

• A summary of your work experience

• A type of bank account

Which of the following is a benefit of higher education?

• Increased earning potential

• Guaranteed employment

• Immediate wealth

• No need for further learning

What is the purpose of insurance?

• To eliminate all risks

• To provide financial protection against unexpected events

• To increase your income

• To avoid paying taxes

Which of the following is an example of a variable expense?

• Mortgage payment

• Utility bills

• Car insurance

• Gym membership

What is the main advantage of investing in stocks?

• Guaranteed returns

• Potential for high returns

• No risk involved

• Fixed interest rate

What does the term "net income" refer to?

• Total earnings before taxes

• Earnings after taxes and deductions

• Total expenses

• Gross income

Which of the following is a key component of financial responsibility?

• Spending more than you earn

• Saving and investing wisely

• Ignoring bills

• Relying on credit cards