WorksheetsFinancial Literacy Quiz
Total questions: 20
Worksheet time: 10mins
What is the term for a belief that restricts one's potential?
Capital Storage
Limiting Belief
Home Equity
Principal
What is the term for the storage of financial assets?
Capital Storage
Gap Insurance
Title
Registration
What does APR stand for in financial terms?
Annual Payment Rate
Annual Percentage Rate
Annual Principal Rate
Annual Price Rate
What is the initial payment made when buying something on credit?
Interest
Down Payment
Principal
Title
What type of insurance covers the difference between the car's value and the amount owed on it?
Life Insurance
Gap Insurance
Car Insurance
Home Equity
What does MSRP stand for?
Manufacturer's Suggested Retail Price
Market Standard Retail Price
Maximum Suggested Retail Price
Minimum Standard Retail Price
What is the legal document proving ownership of a property?
Title
Registration
Principal
Interest
What is the term for the value of a homeowner's interest in their property?
Home Equity
Capital Storage
Down Payment
Gap Insurance
What type of insurance provides financial protection to beneficiaries after the policyholder's death?
Car Insurance
Life Insurance
Gap Insurance
Home Equity
What type of insurance covers damage to a vehicle?
Life Insurance
Car Insurance
Gap Insurance
Home Equity
What is the original sum of money borrowed in a loan?
Interest
Principal
Title
Registration
What is the cost of borrowing money, usually expressed as a percentage?
Principal
Interest
Title
Registration
What is the process of officially recording a vehicle with the government?
Title
Registration
Principal
Interest
Which term refers to the belief that limits one's actions or thoughts?
Capital Storage
Limiting Belief
Home Equity
Principal
What is the term for the percentage charged on a loan annually?
Annual Payment Rate
Annual Percentage Rate
Annual Principal Rate
Annual Price Rate
What is the term for the amount paid regularly to use a borrowed sum of money?
Principal
Interest
Title
Registration
What is the term for the initial amount of money put down when purchasing a property?
Interest
Down Payment
Principal
Title
What is the term for the amount of money left after subtracting liabilities from assets?
Net Worth
Principal
Interest
Title
What is the term for the fee charged by a lender to a borrower for the use of borrowed money?
Principal
Interest
Down Payment
Title
What is the term for the process of taking possession of a mortgaged property as a result of the borrower's failure to keep up mortgage payments?
Foreclosure
Registration
Title
Home Equity
