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FinONEcial LiteRACy Flashcards | StudBud
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FinONEcial LiteRACy
FinONEcial LiteRACy
20 terms
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StudBud Administration
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42 plays
Testing our basic knowledge about Financial Literacy by answering true or false.
Flashcards
20 cards
F
Practice quiz
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Host live
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Questions
20
Answers
1
Financial literacy is only important for adults.
True
False
2
Understanding taxes is not necessary for financial literacy.
True
False
3
Saving money is more important than investing it.
False
True
4
You should only rely on your employer's retirement plan for savings.
True
False
5
It is okay to borrow money for non-essential items.
True
False
6
It is better to pay only the minimum payment on credit cards.
True
False
7
You should only save money after all your expenses are paid.
True
False
8
Financial literacy can help reduce poverty levels.
True
False
9
It is important to have a retirement plan, even if you are young.
False
True
10
Emergency funds should cover at least three to six months of living expenses.
False
True
11
Investing in stocks is riskier than keeping money in a savings account.
False
True
12
Credit cards are always a bad financial choice.
False
True
13
Financial education is only necessary for those who want to be wealthy.
False
True
14
Inflation decreases the purchasing power of money.
False
True
15
You should only invest in what you understand.
False
True
16
A budget is only necessary for people with low income.
True
False
17
All investments guarantee returns.
False
True
18
All debts are bad and should be avoided.
False
True
19
It is advisable to check your credit report regularly.
False
True
20
All financial products are suitable for everyone.
False
True
