Financial Planning for Beginners

Financial Planning for Beginners

12th Grade

8 Qs

quiz-placeholder

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Financial Planning for Beginners

Financial Planning for Beginners

Assessment

Interactive Video

Financial Education

12th Grade

Hard

Created by

Ladisha Lee

FREE Resource

8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does ESI stand for in financial planning?

Education, Security, Investment

Employment, Savings, Insurance

Early debt repayment, Savings, Investing

Economic Stability Indicator

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Why is it important to have health and long-term disability insurance?

To invest in the stock market

It's not necessary if you're young

Only if your employer doesn't provide it

To cover unexpected health issues

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the first financial step after ensuring adequate insurance?

Paying off all debts

Building a small emergency fund

Contributing to a 401(k)

Investing in stocks

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What should you do if you have a 401(k) available?

Withdraw early for expenses

Contribute as much as your employer matches

Only invest in stocks

Ignore it until you have no debt

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the recommended action for debts with over 6% interest?

Only pay the minimum

Invest instead of paying them off

Pay them off starting with the highest rates

Consolidate them into a new loan

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

After paying off high-interest debt, what is the next step?

Start a new debt

Build a larger emergency fund

Take a vacation

Buy stocks immediately

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which is NOT a suggested camp for using your ESI money?

Saving for a house down-payment

Buying luxury items

Investing in a retirement account

Starting a side business

8.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What percentage of your income is recommended to save or invest?

5-10%

10-15%

20-25%

30-35%