Financial Literacy Quiz

Which step involves finding financial aid for education?

• Work

• Scholarships and Grants

• Budgeting

• Tracking your spending

What is the fourth step to financial literacy?

• Low Cost Loans

• Transportation

• Saving and Investing

• Banking

Which step focuses on earning money?

• Saving and Investing

• Work

• Budgeting

• Tracking your spending

Which category has a 6.0% budget allocation?

• Health

• Clothing

• Savings

• Entertainment

What service allows convenient access to cash?

• Online banking

• ATMs

• Mobile apps

• Credit cards

What is a common feature of a savings account in an ideal financial institution?

• No interest

• Competitive interest rates

• High withdrawal fees

• Limited access

What are scholarships and grants?

• Financial awards that need to be repaid

• Financial awards that don't need to be repaid

• Loans for students

• Part-time job opportunities

What do some colleges use FAFSA data for?

• To determine their own financial aid packages

• To decide on student admissions

• To plan campus events

• To set tuition fees

What is the annual loan amount for juniors and seniors through Stafford Loans?

• $3,500

• $4,500

• $5,500

• $6,500

How does working during college help students after graduation?

• It makes them famous

• It sets them up for a smoother job search

• It allows them to travel

• It helps them avoid work