Understanding Lottery Tickets and Financial Planning

Understanding Lottery Tickets and Financial Planning

Assessment

Interactive Video

Business

9th - 10th Grade

Practice Problem

Hard

Created by

Jennifer Brown

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the odds of winning a major lottery like Mega Millions or Powerball?

1 in 10,000

1 in 100,000

1 in millions

1 in hundreds of millions

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How much do Americans spend on average per year on lottery tickets?

$500

$1,000

$1,500

$2,000

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a better alternative to spending money on lottery tickets?

Spending it on luxury items

Saving it under a mattress

Investing the money

Buying more tickets

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the potential amount you could have in 20 years if you invest $20 a week with a 7% annual return?

$10,000

$20,000

$45,000

$115,000

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What mindset shift is encouraged when moving from buying lottery tickets to saving and investing?

Hoping for a miracle

Relying on luck

Taking control of your financial future

Avoiding financial planning

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a SMART financial goal?

Simple, Manageable, Achievable, Realistic, Timely

Specific, Manageable, Achievable, Realistic, Time-bound

Specific, Measurable, Achievable, Relevant, Time-bound

Simple, Measurable, Achievable, Relevant, Timely

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the recommended amount to save in an emergency fund?

2 years of living expenses

1 year of living expenses

3 to 6 months of living expenses

1 month of living expenses

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