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WorksheetsSavings & Investment Unit Review
Total questions: 20
Worksheet time: 10mins
What statement best describes the idea of "Paying yourself first"
Pay bills first and then save money.
Pay at least one bill and then save money
Save money before you pay any bills or spend money.
It means pay whatever comes first.
Which is a common excuse for not saving money.
There's no money left at the end of the month.
I need those shoes! (Or whatever it is you want.)
Saving is for old people, like my grandparents.
I have plenty of money to save, but I just don't want to.
How many months should adults have saved for emergencies?
6 Months
1 Month
3 Months
4 Months
True or False, Teens don't need an Emergency Fund
True
False
At age 15, saving $1,000 per year could result in $725,000 at retirement?
True
False
True or False, Interest can help people accelerate their savings.
True
False
Using the I=prt, calculate the interest on a savings opportunity with $1,000 principal. 3% interest rate, for a year.
$130
$30
$15
In relation to money, which of the following is not a way that interest is applied.
Savers, earn interest on their deposits.
Third parties collect interest for doing work for the bank.
Borrowers, pay interest on their loans.
Using the formula 72/interest rate, calculate the time it will take for an investment to double with a 4% interest rate.
22 years
6 years
18 years
True or False, People open savings account a local bank or credit union
True
False
What is a primary risk when saving money at a credit union or bank.
Inflation
The bank might lose your money.
You might have little money to save.
A type of savings account that earns a higher interest rate than a traditional savings account, but usually requires a higher balance, and often earns more money the higher the balance, best describes what type of account?
Traditional Savings
Money Market
Certificate of Deposit
What are the three major types of Savings Accounts?
Savings Account,
Money Market,
Certificate of Deposit
Money Markey is the only way to save.
Personal Checking
True or False, Certificate of Deposit Account don't have time restrictions on when a person can withdraw their money.
True
False
One of the major difference between savings & investments
Savings is for long term goals/future planning.
Savings is for short-term goals and investing is for long-term/future planning.
There is no difference at all.
True or False, there are risks in investing your money
True
False
____________ is the original sum invested.
Multiple Choice
Principle
Returns
Interest Rate
True or False, People who invest in stocks become share holders in corporations?
True
False
True or False, A profit earned by owning stocks is a dividend.
True
False
True or False, a Broker cannot help clients with investing their money into different stocks, EFT's and commodities.
True
False
