WorksheetsRising Moguls Welcome to Session #1 of the WOM Virtual Institute
Total questions: 32
Worksheet time: 17mins
Do you have your own bank account?
YES
NO
NOT SURE
Reginald Lewis is (was)
Ex-NBA player
The first Black man to have a seat on the NYSE (New York Stock Exchange)
The first Black American to build a billion-dollar company
If you were given a million dollars would you know how to manage it?
YES
NO
MAYBE
What is money?
A medium of exchange
A store of value, which means people can save it and use it later
A unit of account, that is, provide a common base for prices
All of the above.
When you are hired for a job, is it important to have financial education?
NOT IMPORTANT
IMPORTANT
NOT SURE
A bank makes money by lending money and collecting interest.
True
False
Sometimes
Do you currently have a budget?
YES
NO
Who do you usually ask for money?
Parents
Grandparents
Friends
Social Media
A _____ is something that is necessary for you to live a healthy life.
Are you concerned about any of the following?
(click all the apply)
Paying for College
Having a well-paid career
Having money for an emergency
Owning your own home
What do you think about cryptocurrency?
Here to stay but won't replace traditional (fiat) money.
I don't understand it
Major hype and a scam
Never heard of it
If you were low on money, what expense would you eliminate?
(Choose all that apply)
Television streaming services
Cellphone
Clothes
Internet
What calculation should you do to answer the question:
How many years will it take $900 to double if the interest rate is 2%?
72 divided by 2
900 divided by 2
2 divided by 100 times 900
A quick way to estimate how long it takes for your money to double is called...
rule of 72
compound interest
simple interest
inflation
When interest is added to the balance each year and the new balance is used to calculate the interest for the next year is called...
simple interest
compound interest
rule of 72
inflation
If Becca has money in the bank at 1% interest, how many years will it take her money to double? (type number only)
(a)
If Raven has money in the bank at 3% interest, how many years will it take her money to double? (type number only)
(a)
If Nate has money in the bank at 7.2% interest, how many years will it take his money to double? (type number only)
(a)
If Sydney has money in the bank at .6% interest, how many years will it take her money to double? (type number only)
(a)
Becca wants her money to double in 6 years. What interest rate will she need?
(a)
Sydney wants her money to double in 4 years. What interest rate will she need?
(a)
Jayvon put $600 in the bank at 6% and waited 12 years. How much will he have?
(a)
Do current bank interest rates allow your money to keep up with the rate of inflation?
yes
no
