Personal Finance Chapter 3 Lesson 3

Quiz
•
Other
•
11th Grade
•
Easy
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
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