WorksheetsInvestment Benefits Quiz
Total questions: 14
Worksheet time: 7mins
If Marcus invests in an account that yields 8% growth annually, how long will it take for his investment to double?
9 years
10 years
13 years
15 years
What is a disadvantage of a Bank Savings Account?
Funds are not accessible for a set period of time.
Accounts frequently require a minimum deposit and a higher minimum balance to avoid fees.
Interest rates are lower than other account types.
High withdrawal fees.
What is a disadvantage of a Money Market Account?
Accounts frequently require a minimum deposit and a higher minimum balance to avoid fees.
Funds are not accessible for a set period of time.
Interest rates are lower than other account types.
Limited check-writing ability.
What is a disadvantage of a Certificate of Deposit?
Interest rates are lower than other account types.
Accounts frequently require a minimum deposit and a higher minimum balance to avoid fees.
Funds are not accessible for a set period of time.
No disadvantages.
What is a disadvantage of a Bank Savings Account?
Interest rates are lower than other account types.
Funds are not accessible for a set period of time.
Accounts frequently require a minimum deposit and a higher minimum balance to avoid fees.
No disadvantages.
Which account type is known for having funds locked for a specific duration?
Bank Savings Account
Certificate of Deposit
Money Market Account
Checking Account
Which account type is associated with requiring a minimum deposit?
Certificate of Deposit
Money Market Account
Bank Savings Account
Checking Account
Which account type is best for someone who does not want their funds locked for a period?
Certificate of Deposit
Money Market Account
Bank Savings Account
Checking Account
Which statement provides evidence for the answer to Part A?
"the venture involved trading in a highly profitable market niche that she had discovered"
"Jane decided to invest a portion of her retirement savings with Annie"
"she was using the funds from new investors to pay returns to earlier investors"
"eventually, the influx of new investors slowed down"
Why are saving and investing important parts of a financial plan?
They provide an individual a way to avoid acquiring an expensive loan.
They help an individual reduce interest rates on loans.
They help an individual avoid paying income taxes.
They allow an individual to accumulate resources to achieve long-term goals.
Which of the following is a common investment option for teenagers?
Superannuation
Term deposits
Managed funds
Cryptocurrency
Investing your money earns you more money because of ---
compound growth
short-term savings
checking accounts
mortgage payments
This is just a savings account with a slightly higher interest rate because the saver commits to a longer saving period for a set amount deposited.
debt
C.D.
beneficiary
mortgage
