Financial literacy 101
Master Your Money: Financial Literacy Quiz
Test your knowledge on financial literacy with our engaging quiz designed to help you understand essential concepts in budgeting, savings, and student loans.
Features:
- 7 thought-provoking questions
- Multiple choice format
- Improve your financial understanding
Which is most likely the purpose of budgeting?
Planning and control of an organization’s income and expenditure
Preparation of a five-year business plan
Company valuation
Assess the non-financial performance of an organization
Which of the following statements about sayings accounts is false
Savings accounts are best used to store money for long-term goals
Savings accounts may require you to maintain a minimum balance to avoid paying a fee
Savings accounts pay interest on the money you deposit
Savings accounts allow an unlimited amount of withdrawals each month
Which type of bank account typically offers the least (if any) interest?
Money market account
Certificate of deposit
Savings account
Checking account
Which savings account will earn you the least amount of money?
One that earns simple interest monthly
One that compounds interest monthly
One that errands simple interest daily
One that compounds interest daily
What is the number of Americans that have student loan debt?
2.3 million
10.6 million
29.5 million
44.2 million
When you need student loans, what number option should subsidized loans be?
1
2
3
4
Which loans have the highest interest rates on average?
Private student loans
Auto Loans
Personal Loans
Mortgage Loans
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