
Mastering Money Matters Quiz

Quiz
•
Financial Education
•
11th Grade
•
Medium
Jane Field
Used 1+ times
FREE Resource
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Benjamin is saving money in a bank account. What is the primary benefit of compound interest in his saving and investment strategies?
It provides a fixed return on investment.
It allows interest to be earned on both the initial principal and the accumulated interest.
It guarantees a high return regardless of market conditions.
It eliminates the risk of losing money.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a key component of effective budgeting?
Spending more than you earn.
Ignoring unexpected expenses.
Tracking income and expenses regularly.
Only saving money when convenient.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Priya is planning to buy a car and needs a loan. What is the main purpose of her credit score in this situation?
To determine her annual income.
To assess her ability to repay borrowed money.
To calculate her monthly expenses.
To evaluate her savings potential.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
William recently visited a hospital for a routine check-up. Which type of insurance policy would specifically cover his medical expenses?
Life insurance
Home insurance
Health insurance
Car insurance
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Evie recently started her first job and received her payslip. She noticed a deduction labeled 'National Insurance'. What is the primary function of National Insurance in the UK?
To fund public education.
To provide financial support for the unemployed.
To contribute to state benefits and the NHS.
To pay for road maintenance.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Lily just received her monthly salary in the UK. Which of the following is a tax that is typically deducted from her salary?
Value Added Tax (VAT)
Corporation Tax
Income Tax
Capital Gains Tax
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Isabella and Oliver are planning their investments. What is the main advantage of them having a diversified investment portfolio?
It guarantees a profit.
It reduces risk by spreading investments across different assets.
It focuses all investments in one sector.
It eliminates the need for financial advice.
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