Financial Literacy Intro Assessment

Front

What is financial literacy?

Back

The knowledge to make informed financial decisions

Front

Which of the following is NOT a key component of financial literacy? Budgeting, Saving, Investing, Gossiping

Back

Gossiping

Front

How can being financially literate help an individual?

Back

It increases financial security

Front

What is a budget?

Back

A plan for managing income and expenses

Front

What does saving money mean?

Back

Keeping a portion of your income for future needs

Front

Why is it important to learn about investing?

Back

To grow your wealth over time

Front

A single person will have less income tax withheld than a married employee.

Back

False

Front

What is a credit score?

Back

A number that shows how likely you are to repay borrowed money.

Front

Which of the following is a type of debt? Grocery receipt, Credit card balance, Birthday gift, Bank savings

Back

Credit card balance

Front

What is the purpose of interest rates on loans?

Back

To make the borrowed money more expensive to repay