2013-14: What do you know about financial literacy?
Your answers will be used to help us plan and organize instruction for our financial literacy course. NO, this does not count as a grade. We simply want to know what YOU know (and don't know) so that the course will be meaningful and relevant to you. ***For questions 7 and 8, you will need to click on this link:
Use the "+" magnifying glass icon to make the table larger.
Your last name?
Your first name?
1. A loan extended to a person by a lender is called
2. When financial institutions lend money, they charge borrowers
3. When you use a credit card, you
buy now, pay later.
buy now, pay now.
buy now, pay never.
buy now, pay forever.
4. A disadvantage of credit is
it allows you to track expenditures.
it encourages impulse spending.
it allows you to establish credit.
it allows you to buy now and pay later.
5. The three variables that affect saving money are
amount, interest, and credit.
amount, interest, and time.
amount, stocks, and time.
none of the above
6. A financial investment that allows you to become part-owner of a company is called
For questions 7 and 8, use the stock market report table you may view via the link above. 7. Which stock had the highest closing price?
*Click on the link at the top of the survey to view the stock market table. You will need to flip back and forth between screens--looking at the chart and then the question and maybe back again..
8. Which stock had the largest increase in value from the previous day?
9. If you owned 100 shares of stock and the price of the stock went up from $20.00 per share to $25.00 per share, how much money would you have made off of the stock?
*Note: this question does NOT refer to the stock market table from the previous question. It is a general question about stocks.
10. The purpose of taxes is
to improve roads.
to support government.
to pay retirement benefits.
all of the above.
11. What is Social Security?
A private insurance system used only by the rich.
A social insurance system for all Americans.
The amount of money someone has.
Medical insurance for poor people.
12. The total amount of monthly income remaining, after all deductions have been taken out, is known as
gross annual income.
gross monthly income.
net annual income.
net monthly income.
13 . A record of spending or of probable expenditures and income for a given period of time is called:
14. Which of the following is true of entrepreneurs?
They take risks in order to make a profit.
They are always successful.
They always make a lot of money.
All of their financial choices are correct.
15 . A document sent to prospective employers to highlight personal achievement and experience is a
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