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WorksheetsFinancial Literacy Comprehension Quiz
Total questions: 10
Worksheet time: 5mins
Perhaps the most fundamental financial literacy skill is
Investing
budgeting
earning
saving
What is the key idea to remember about getting paid?
the harder you work, the more you get paid
employers care most about your effort
you get paid for creating value for others
education is the most important factor
Why should people save?
for car maintenance and repairs
for unexpected illness
for future large purchase
All of the above
The best way for someone without a lot of money to invest is to
watch the news for hot stocks
choose investments with minimal risks, like savings accounts
buy bonds instead of stocks
select an index or mutual fund
The stock market is food for what kinds of goals?
long-term, like retirement
intermediate-term, like a down payment on a house in 3 years
short-term, like next month's rent
all of the above
Albert Einstein is crdited with saying that the most powerful force in the universe is
relativity
compound interest
human ingenuity
nuclear power
What is one way everyone can increase his or her quality of life?
getting an expensive education
using credit to buy things now and not wait
actively manage one's finances
use all of one's money for needs and investment, not wants
Mr. Bahnsen says the difference between investing at age 50 vs age 25 for many middle class families can be
hundreds of dollars
thousands of dollars
hundreds if thousands of dollars
millions of dollars
What does Mr. Bahnsen say are the worst ramifications of excessive debt?
the loss of hope to get ahead
the loss of investment opportunities
the inability to reture
the inability to buy new things
Mr. Bahnsen encourages you ng people to completely avoid using credit.
True
False
