WorksheetsFinance Quiz
Total questions: 17
Worksheet time: 9mins
What is NOT true of stocks?
It is partial ownership of a company
Buying stock is riskier than buying bonds
There is more chance for money to grow over time
Your money will only increase over time with stocks
What is the difference between a savings and a checking account?
savings accounts give you ready access to money as much as you'd like
checking accounts give you ready access to money as much as you'd like
savings accounts are safe, checking accounts are risky
checking accounts are safe, savings accounts are risky
Where is the BEST place to keep your emergency fund? (There is a right answer)
Checking account
Savings account
Stocks
CD
Where is the BEST place to put money for retirement? (There is a right answer)
Checking account
Savings account
Stocks/Bonds
None of the above
Which of these is a retirement account?
IRA
Roth IRA
401K
All are retirement accounts
What is the difference between a Roth IRA and an IRA
Roth IRA uses POST tax money
IRA uses POST tax money
What is a mutual fund?
Ownership in many companies
investment where stocks, bonds, etc. are sold together as a unit
A retirement account
None of the above
What is true about specie?
The USA uses specie money
A Euro would be considered specie
Gold or silver is what gives it worth
None of the above
What is the federal reserve and what is its purpose?
Central bank of the USA
Controls inflation rates
Sets interest rates for other bak
All answers are correct
True or False: High interest is always bad
True
False
In which scenario is high interest a good thing
The interest rate you pay on your home loan
The interest rate on your credit card
The interest rate on your savings account
None are examples of high interest
In which scenario is having high interest a bad thing:
Interest rate on your car loan
Interest rate on student loan payments
Interest rate on credit cards
All scenarios are bad to have high interest
True or False: You need to be 25+ to start a retirement account
True
False
True or False: Credit cards are linked to your checking account (then money comes directly out of your checking)
True
False
True or False: In the progressive tax system, if I make 100,000 and that puts me in the 24% tax bracket, to figure out how much I owe in taxes, I take 100,000 x 0.24 and that's my answer
True
False
True or False: In the progressive tax system, every person get's deductions, or things they automatically don't have to pay taxes on
True
False
True or False: In the progressive tax system, there is a different tax column (amount) for married and unmarried people
True
False
