Module 1-14 Review

Question 1

What is an emergency fund?

Accepted Answer

Savings for emergencies

Question 2

What is the required motto on all U.S Currencies?

Accepted Answer

Have fun and Live Life

Question 3

Which is a common type of investment?

Accepted Answer

Real estate

Question 4

Which is a sign of financial health?

Accepted Answer

Consistent savings

Question 5

Debt Snowball Method focuses on paying off the smallest debts first.

Accepted Answer

True

Question 6

Buying a home is an investment.

Accepted Answer

True

Question 7

External influences to spend money can be productive and unproductive.

Accepted Answer

True

Question 8

True or false: Saving is more important than earning.

Accepted Answer

True

Question 9

It is very important to keep track and review your bank account statements.

Accepted Answer

True

Question 10

Which is a good debt?

Accepted Answer

Student loans

Question 11

Being prepared financially for disasters can help you and your family get through tough times.

Accepted Answer

True

Question 12

You should share your password with everyone you know.

Accepted Answer

False

Question 13

Bank of America is one of the largest banks in the United States.

Accepted Answer

True

Question 14

Principal is the amount of money you borrow.

Accepted Answer

True

Question 15

Gross income is the total amount of money you earn before any deductions (like taxes).

Accepted Answer

True

Question 16

What does APR stand for?

Accepted Answer

Annual Percentage Rate

Question 17

What is financial literacy?

Accepted Answer

Understanding money management

Question 18

What is the purpose of insurance?

Accepted Answer

To protect assets

Question 19

What is a budget primarily used for?

Accepted Answer

Tracking expenses

Question 20

Which is a benefit of credit cards?

Accepted Answer

Rewards and points

Question 21

Which is a good saving strategy?

Accepted Answer

Pay yourself first

Question 22

A financial goal is a plan for saving and building wealth.

Accepted Answer

True

Question 23

Credit reports are generated by credit bureaus.

Accepted Answer

True

Question 24

What is Saving?

Accepted Answer

All of the Above

Question 25

Paying your bills on time boost your credit score.

Accepted Answer

True

Module 1-14 Review

Questions 25

Module 1-14 Review

Questions 25