Chapter 2 Personal Finance

Chapter 2 Personal Finance

9th - 12th Grade

41 Qs

quiz-placeholder

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Chapter 2 Personal Finance

Chapter 2 Personal Finance

Assessment

Quiz

Life Skills

9th - 12th Grade

Medium

Created by

RICHARD FLORES

Used 2+ times

FREE Resource

41 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1) Which of the following steps is the First Foundation?

Get out of debt

Build wealth and give

Save a $500 emergency fund

Pay cash for your car

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1) Instead of borrowing money for large purchases, you should set money aside in a over time and pay with cash.

Emergency fund

Sinking fund

Credit card fund

Mortgage fund

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does it mean to have a negative savings rate?

Saving for something that is a want instead of a need

Having a fully funded emergency fund

Having no savings at all

Spending more money than you make and acquiring debt

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The saving habits of Ben and Arthur best illustrate which principle of saving?

The length of time money is invested matters.

The amount of the initial investment is the key.

Rate of return matters.

Both A and C

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This principle suggests that a certain amount of money today has different buying power than the same amount of money in the future. This is due to both the opportunity to earn interest on the money and because inflation will drive prices up, thereby changing the ʺvalueʺ of the money.

Opportunity cost

Time value of money

Interest rate

Inflation

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For which of the following should you save?

Purchases

Wealth building

Emergency fund

All of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Using the sinking fund approach, how much do you have to save each month to buy a $4,800 car one year from now?

$400

$300

$275

$500

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