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WorksheetsPlanning Your Financial Fut
Total questions: 20
Worksheet time: 10mins
Name
Class
Date
1.
Planning on saving enough money to go on a nice vacation is an example of:
a)
Need
b)
investment
c)
Financial Goal
d)
Wealth
2.
Which of the following is a need?
a)
Shelter
b)
Designer Clothes
c)
TV
d)
Cell Phone
3.
A want is:
a)
something essential for Living
b)
an expense
c)
Something important to an individual
d)
something someone would like to havebut does not need to live.
4.
A value is:
a)
Something essential for living
b)
an expense
c)
a belief about ideas and principles that are important to you.
d)
something you would like to have but do not need to live
5.
Which of the following is the key to becoming financially secure for the average person?
a)
Making a large salary
b)
inheriting money
c)
working multiple jobs
d)
starting to save or invest at an early age
6.
Which of the following is the key to becoming financially secure for the average person?
a)
Making a large salary
b)
Inheriting money
c)
Working multiple jobs
d)
Starting to save or invest at an early age
7.
Net worth is the difference between:
a)
Assets and interest
b)
liabilities and growth
c)
assets and liabilities
d)
growth and investments
8.
Putting money to use that you hope will increase its value over time is called:
a)
Investing
b)
net worth
c)
average rate of return
d)
compound interest
9.
The increase in value of your investments over a period of time is called:
a)
assets
b)
liabilities
c)
financial planning
d)
growth
10.
The amount you place in an investment is called:
a)
interest
b)
principal
c)
rate
d)
time
11.
A financial plan is a set of goals for acquiring, saving, and spending money.
a)
True
b)
False
12.
A need is something you desire but is not necessary for survivial.
a)
True
b)
False
13.
Wealth is a plentiful supply of money and valuable goods.
a)
True
b)
False
14.
Net worth is the difference between assets and liabilities.
a)
True
b)
False
15.
Assets are things you owe.
a)
True
b)
False
16.
Liabilities are debts that you owe.
a)
True
b)
False
17.
Compound interest is earning interest on the principle plus the interest.
a)
True
b)
False
18.
Interest is a fee paid on borrowed money or money earned on deposits with a bank or other financial institution.
a)
True
b)
False
19.
The rule of 72 states that you divide 62 by the annual rate of interest to calculate how many years it will take to double an investement.
a)
True
b)
False
20.
Financial independence is:
a)
Moving back into your parents basement at age 40.
b)
Spending as much money as you want, and maxing out your credit cards so you can have lots of fun.
c)
Living on welfare the rest of your life
d)
Having enough money for your basic needs and modest wants without having to work.
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