
NTMY 2
Quiz
•
Financial Education
•
University
•
Practice Problem
•
Medium
Mahmood Alshaikh
Used 6+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of a budget?
What is the primary purpose of a budget?
a) To track your friends' spending habits.
b) To plan how you will spend and save your money.
c) To invest in the stock market.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a common benefit of saving money in an emergency fund?
a) It allows you to buy luxury items whenever you want.
b) It provides a financial cushion for unexpected expenses like medical bills or job loss.
c) It guarantees you a higher credit score.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does "interest" generally refer to when you borrow money from a bank?
a) The extra money you pay back to the lender in addition to the original amount borrowed.
b) The bank's curiosity about your financial history.
c) A discount you receive for paying on time.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is considered a good debt?
a) Credit card debt for impulse purchases.
b) A loan taken out for a lavish vacation.
c) A mortgage for a primary residence.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the significance of a credit score?
a) It determines how many friends you have.
b) It's a numerical representation of your creditworthiness, influencing your ability to borrow money.
c) It's a measure of your academic achievements.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a financial asset?
a) Corporate bonds
b) A house you own.
c) Building.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the concept of "diversification" important for in investing?
a) To put all your money into one type of investment.
b) To spread your investments across different assets to reduce risk.
c) To only invest in companies you know personally.
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