How do you build a budget?

Add net income, subtract fixed and variable expenses, optimize spending

What is financial literacy?

Skills & concepts to help people make smart decisions with their money

What’s the difference between gross income and net income?

Gross income is before deductions and net income is after deductions

What percentage is the minimum downpayment for a conventional mortgage and high-ratio mortgage?

Conventional 20% and high-ratio 5%

What is the stock market?

a collection of buyers and sellers trading shares of businesses

What is passive investing?

Investing in the entire stock market with a long-term strategy

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Financial Literacy Quiz Game

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Questions 10

Answers

1
Passive investing outperforms active investing by what percentage?
86%
69%
85%
84%
2
How do you build a budget?
spend first, ask questions later
Add gross income and add fixed and variable expenses
Add net income, subtract fixed and variable expenses, optimize spending
Add net income and add fixed and variable expenses
3
What is financial literacy?
Skills & concepts to help people make smart decisions with their money
Professionals who help people make smart decisions with their money
its the stuff my parents keep saying I don't have
Skills & concepts to help people invest in the stock market
4
What’s the difference between gross income and net income?
Gross income and net income are the same
gross income is yucky and net income is used to catch fish
Gross income is before deductions and net income is after deductions
Gross income is after deductions and net income is before deductions
5
What percentage is the minimum downpayment for a conventional mortgage and high-ratio mortgage?
Conventional 5% and high-ratio 20%
Conventional 20% and high-ratio 5%
too much
Conventional 25% and high-ratio 50%
6
What is the stock market?
a collection of buyers and sellers trading shares of businesses
its a casino
a place for buyers and sellers of bond investments
a collection of buyers and sellers of real estate
7
Why should you diversify your investment portfolio?
Increases risk and volatility
cuz r/personalfinancecanada told me to
Mitigates risk and volatility
Increases returns
8
What is the highest and lowest credit scores?
Highest 9001 and lowest 0
Highest 900 and lowest 300
Highest 901 and lowest 301
Highest 300 and lowest 900
9
What is passive investing?
Investing in short term speculative investments
Investing in individual stocks in an attempt to outperform the market
Investing in GME
Investing in the entire stock market with a long-term strategy
10
Why do individuals invest in speculative investments?
FOMO and Herd Instinct
FOMO
Herd Instinct
cuz r/wallstreetbets told me to

Financial Literacy Quiz Game Flashcards | StudBud