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Duplicate of FL Tools HIP4O
Duplicate of FL Tools HIP4O
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Financial Tools 101 Financial Literacy HIP4O Assessment AS Learning
Flashcards
20 cards
F
Practice quiz
P
Host live
L
Questions
20
Answers
1
Wills are needed only for
Rich people
Everyone who has a dependent
Old people
People who think they are dying
2
What is the best age to start saving for a child's RESP?
age 20
Just after the baby is born
6 months BEFORE the child is born
3
Money can grow in this tax free and no penalty for withdrawing
Mutual Fund
RRSP
TFSA
RESP
4
You can borrow from this to help buy your first house
RRSP
TFSA
POA
RESP
5
Stocks provide a guaranteed rate of return on investment
True
False
6
There's no better time to start saving then
Next month
Tomorrow
Today (now)
Never
7
Has very low interest rates, but very safe/stable investment
RESP
RRSP
GIC
TFSA
8
To maintain financial stability, Emergency Savings are OPTIONAL
True
False
9
Stocks, Mutual Funds & Futures are for
Saving
Investing
10
Financial Success requires
Faith
Luck
Rocket Science
Time and Planning
11
Saving is the SAME as Investing
False
True
12
Mutual Funds allow you to BUY
stocks from 1 company
stocks from several companies
no stocks
13
A method of setting and tracking monetary goals via income and expenses
Spending
Budgeting
Emergency Savings
Saving
14
GICs are what type of investment (GUARANTEED INVESTMENT CERTIFICATES)
High Risk
Low Risk
15
The act of setting aside money for the future, that could have been used to buy stuff
Emergency Saving
Saving
Budgeting
Estate Planning
16
Saving for a child's education uses this tool
RESP
Stock
RRSP
Mutual Fund
17
If I am unconscious in the hospital, this allows someone to make medical decisions for me
POA
Will
GIC
TFSA
18
The contributions to this are TAX FREE
TFSA
RESP
RRSP
GIC
19
Which of the following is NOT an investment tool
Stock
Mutual Fund
POA
20
My 10 year old laptop has been getting slower each month & broke today. I bought a new one.
Regular Savings Purchase
Emergency Savings Purchase
No Purchase required
