WorksheetsUnit 2 Personal Finance
Total questions: 20
Worksheet time: 10mins
What is a type of financial institution?
Commercial Bank
Credit Union
Insurance Company
All of the above
True or False: commercial banks charge higher rates on loans.
True
False
Which one is NOT a true statement?
Banks do not charge customers on loan
A rate which is charged or paid for the use of money
Banks pay to customers on savings accounts and certificates of deposit (CDs)
True or False: Credit is the use of money that they do not have
False
True
Why do people need credit?
Purchase major expenses like cars,house, or higher education
in case of emergency
to not use your own money
A and B
B and C
Why do you need Insurance?
Damage to your car
Legal fees
Medications
All of the Above
Which One is not a type of Insurance ?
Homeowners
Car
Disability
Education
What is Credit report?
Payment history of loans/credit cards
Your Credit Score
What does NOT affect your credit?
Making charges on debit card
how much you earn
Savings
Based on Job history
Spencer wants a new bicycle. Should he save or invest?
Save
Invest
None of the above
Felix is planning to buy a boat in 6 years. Should he save or invest?
Save
Invest
None of the above
Marc wants to buy new drum sets. Should he save or invest?
Save
Invest
None of the above
Which is NOT a type of interest?
Similar interest
Compound interest
Fixed interest
Variable interest
True or False: Credit unions are similar to commercial banks.
True
False
True or False: the more risk the more reward
True
False
True or False:financial institution is a company engaged in the business of dealing with financial and monetary transactions such as deposits, loans, investments, and currency exchange.
True
False
Which one is NOT a function of money?
Measure of Money
Medium exchange
Store of Value
True or False: the amount of you expected return is based on the amount of risk you take with your money
True
False
Which is type of savings is not insured by the FDIC?
Money Market
CDs
Stocks
Savings
Which type of investment is the riskiest ?
Stocks
Bonds
Mutual funds
