Personal Finance Quiz 2

Which agency helps protect consumers from unfair financial practices?

• SEC

• FDIC

• CFPB

• IRS

What should you do if you find an error on your credit report?

• Ignore it

• Report it to the credit bureau

• Call your bank

• Change your credit score

What is identity theft?

• Losing your ID

• Forgetting passwords

• Someone using your personal info to commit fraud

• Changing your name

What can help prevent identity theft?

• Sharing SSN with friends

• Using public Wi-Fi for banking

• Shredding personal documents

• Posting account info online

Which organization assists with complaints about consumer fraud?

• FTC

• W-2

• IRS

• FAFSA

Which of these is a high-risk, high-reward investment?

• Savings account

• Bond

• Stock

• CD

What is diversification in investing?

• Investing in one company

• Spreading investments to reduce risk

• Only buying real estate

• Avoiding stocks

Which account grows tax-free if withdrawn in retirement?

• Traditional IRA

• Checking account

• Roth IRA

• Savings account

Which government agency regulates the stock market?

• FDIC

• SEC

• CFPB

• IRS

What is the main purpose of a 401(k)?

• Pay off debt

• Cover emergency expenses

• Save for retirement

• Pay student loans