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Post Financial Literacy Assessment
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Why is it important to start saving for retirement at a young age?
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20 points
Retirement savings are only for older individuals
Social Security will cover all retirement expenses
To take advantage of compound interest and have more time for investments to grow
Which is an example of an asset?
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20 points
A video game
A Business
New shoes
True or False, liabilities are things that take money out of your pocket.
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10 points
True
False
What is a credit score?
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10 points
A report card that show how well you pay back borrowed money?
A score for how much money that you make at your job.
A score for how much allowance you get every week.
What is a stock?
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10 points
A measure of how much money is in your bank account.
Ownership in the portion of a company.
What should you do with your savings?
10 points
Spend it
Let it sit in the bank
Invest it
Clear selection
What is a budget?
20 points
The amount of money you owe your friend.
A plan for how your money should be distributed.
The amount of money you used to purchase new books.
Clear selection
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