Personal Finance Chapter 3 Lesson 3

Personal Finance Chapter 3 Lesson 3

11th Grade

7 Qs

quiz-placeholder

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Personal Finance Chapter 3 Lesson 3

Personal Finance Chapter 3 Lesson 3

Assessment

Quiz

Other

11th Grade

Easy

Created by

Steve Wills

Used 4+ times

FREE Resource

7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of having a $500 emergency fund?

To invest and grow your money

To cover unexpected expenses without going into debt

To buy new shoes and clothes

To donate to charity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important to save for emergencies?

To prepare for a pandemic

To have extra money for shopping

To be financially stable in case of unexpected events

To invest in the stock market

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should you do with your emergency fund once you have $500 saved?

Invest it in stocks

Keep it in a separate savings account

Spend it on new clothes and gadgets

Donate it to charity

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How much should your emergency fund be once you're out of school and have zero debt?

1-2 months of living expenses

3-6 months of living expenses

7-9 months of living expenses

10-12 months of living expenses

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of an emergency fund?

To be used for wants and desires

To be invested in real estate

To provide insurance against unexpected events

To donate to charity

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When is it okay to use your emergency fund?

For any planned event or occasion

For unexpected emergencies only

For urgent wants and desires

For investing in the stock market

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should you do if you need to use your emergency fund?

Forget about it and never replace it

Replace the money as soon as possible

Invest the money in a business venture

Donate the money to a charity