Financial Literacy Quiz

Gross income is often:

If you own stock in a company, you receive your earnings as:

For an individual, what would count as a financial asset?

True or False: Insurance rates can be different based on what type of car you drive

A mortgage is a loan used to purchase a:

What is NOT a way to improve your credit score?

In order to get your paycheck sent directly to your bank account, you should sign up for:

When will you be most likely to be asked for your Social Security number?

When interest is paid on previous interest (good if you are saving, bad if you are borrowing) it is called:

What is an example of a "fixed cost" in a budget?

What do you need to open a bank account?

When a financial asset can be easily converted into cash, it is said to be:

What does it mean to "pay yourself first"

The two parts of a loan are:

True or False: You cannot improve your credit score.

Extra money earned in a savings account or money you have to pay when you borrow money is called:

Which factor(s) influence how much your savings account will grow?

Your credit score is important because:

Which of these financial assets is the most liquid:

As an individual, what would count as a financial liability?

True or False: When you invest in a company's stock, you become one of the owners.

In your budget, an example of a "variable cost" is:

Required payments to the Federal, state, or local governments are called: