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WorksheetsPersonal Finance 1
Total questions: 12
Worksheet time: 6mins
Name
Class
Date
1.
When is the BEST time to borrow money?
a)
when interest rates are low
b)
when a person has a poor credit rating
c)
when a person has no job or steady income
d)
when a person wants to purchase an expensive item
2.
Which type of investment provides more flexibility?
a)
money market
b)
savings account
c)
certificates of deposit
d)
stocks and mutual funds
3.
How has technology NOT changed banking?
a)
It has provided personal bankers.
b)
It has made debit cards a choice over credit cards.
c)
It has made direct deposit through an ATM possible.
d)
It has permitted easy transfer of funds from one account to another.
4.
When should people buy less on credit?
a)
when interest rates are low
b)
when they have other debts
c)
when they have no collateral
d)
when they have no savings account
5.
Which group of people have increased their use of credit cards the most in recent years?
a)
teenagers
b)
college students
c)
people over the age of 65
d)
middle-aged people
6.
Which is a method of saving money?
a)
purchasing bonds
b)
purchasing stocks
c)
purchasing mutual funds
d)
purchasing certificates of deposit
7.
Compared to other workers, entrepreneurs _________________.
a)
take more federal aid
b)
work better in groups
c)
work fewer hours per day
d)
are more creative thinkers
8.
Which is the most diversified investment?
a)
municipal bond
b)
stock in Coca Cola
c)
bank savings account
d)
Vanguard mutual fund
9.
Which allows people to increase their income?
a)
arguing with the boss
b)
attending a training class
c)
applying for a credit card
d)
opening a checking account
10.
Which form of payment is the most expensive for the buyer?
a)
cash
b)
check
c)
debit card
d)
credit card
11.
What is an advantage of a savings account over a checking account?
a)
Savings accounts are easier to acquire.
b)
Savings accounts can be used to guarantee loans.
c)
Savings accounts pay a higher rate of interest.
d)
Savings accounts provide more protection for your money.
12.
Why do periods of low interest rates create jobs?
a)
People save more money.
b)
People borrow money to buy more goods.
c)
People are willing to work for less money.
d)
Savings accounts pay a lower rate of interest.
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