An individual retirement account

A company's earnings distribution

Financial Literacy Quiz Flashcards

1

What is a mutual fund?

A single stock
A bond
A savings account
A diversified investment

2

What is a 401(k) plan?

A savings account
A credit card
An employer-sponsored retirement plan
A loan

3

Which loan type is government-funded?

Federal loan
Personal loan
Auto loan
Private loan

4

What is a credit card?

A loan tool
A savings account
A checkbook
A debit card

5

What is a co-payment?

A flat fee for service
A credit card
A full payment
A loan

6

What is an IRA?

A credit card
A savings account
A loan
An individual retirement account

7

Which fee is charged for missing a payment?

Late fee
Annual fee
Over-limit fee
Foreign transaction fee

8

What is a bond?

A debt security
A savings account
A mutual fund
A stock

9

What does APR stand for?

Annual Penalty Rate
Annual Payment Rate
Annual Percentage Rate
Annual Premium Rate

10

True or false: Credit cards use your bank account funds

True
False

11

Which would be considered the highest risk investment type?

Bond
Mutual Fund
Money Market Account
Stock

12

What is a dividend?

A bond interest
A company's earnings distribution
A stock purchase
A loan payment

13

What is insurance?

A loan
A savings account
A credit card
A financial safeguard

14

What is cryptocurrency?

A stock
A bond
Physical currency
Digital currency

15

What is a deductible?

A premium
A credit card
A loan
Out-of-pocket payment

16

Which cryptocurrency reached its highest value to date this week?

Bitcoin
Ripple
Ethereum
Litecoin

17

What is a student loan?

A scholarship
A work-study program
A financial aid loan
A grant

18

What is a futures contract?

An agreement to buy/sell later
A stock purchase
A mutual fund
A bond

Financial Literacy Quiz

Questions 18

Financial Literacy Quiz

Questions 18