Financial Literacy
Social Studies
8th Grade
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13 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an advantage of term life insurance?
It is less expensive
It lasts for one’s entire life
It covers an individual and their entire family
It builds up money that can be accessed later
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Whole life insurance can be beneficial for all of the following reasons except
It builds up money that can be accessed later
It lasts for one’s entire life
The premium stays the same
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of policy would be best for a single mother of two that is on a limited budget?
Whole Life
Term
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If someone has a very low amount of money, wants to start saving and wants their money to be liquid, which type of account would be most fitting?
Money Market
401K
Savings Account
CD
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which of the following accounts are contributions made BEFORE taxes?
IRA
Roth IRA
Money Market
Savings Account
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Of the following accounts, which would typically produce the highest rate of return (the highest interest rate)?
401K
CD
Savings Account
Money Market
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following are considered retirement accounts?
IRA
Roth IRA
401K
All of the above
None of the above
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