Personal Financial Literacy

Question 1

The lower your credit score, the better your credit is.

Accepted Answer

False

Question 2

Imagine you buy stock in a corporation. It makes a profit! Depending on the type of stock, you may receive ____.

Accepted Answer

Dividends

Question 3

Your friend wants to earn the most interest and won&#x27;t need to access the money soon. She should put her money in a ___.

Accepted Answer

certificate of deposit (CD)

Question 4

You plan to go to college and want to see if you&#x27;re eligible for federal financial aid. Which form would you fill out?

Accepted Answer

FAFSA

Question 5

College can be expensive! Which of the following options could help you pay for school?

Accepted Answer

Loans, Work-study programs, Scholarships

Question 6

Imagine you put $100 in savings. To make the most money, would you want to earn simple or compound interest?

Accepted Answer

Compound

Question 7

Imagine a branch hits your car; repairs are $2,000. Insurance pays 90% after a $1,000 deductible. How much do you owe?

Accepted Answer

$1,100

Questions 7