Trivia Test On Financial Literacy! Quiz

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| By Esc2000
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Esc2000
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Quizzes Created: 1 | Total Attempts: 2,680
| Attempts: 2,680 | Questions: 10
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1. Which of the following instruments is NOT typically associated with spending?

Explanation

The correct answer was "Certificate of deposit" - 93.5% of high school students got this question correct. 

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About This Quiz
Trivia Test On Financial Literacy! Quiz - Quiz

Get ready to test your knowledge of financial literacy! How good are you with your money? Do you know how to get the most from the income you... see moreget by ensuring you save up or invest it? What are some of the avenues that you can use to reduce your spending? The quiz provided will help you see if you are a money maker, save, or don’t make the most with what you have. Give it a look and expand your financial knowledge.
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2. If each of the following persons had the same amount of take-home pay, who would need the greatest amount of life insurance?

Explanation

The correct answer was "A young single woman with two young children" - 61.3% of high school students got this question correct. Source: Jump$tart quiz and answers

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3.
 
Which of the following statements is true?

Explanation

The correct answer was "Banks and other lenders share the credit history of their borrowers with each other and are likely to know of any loan payments that you have missed" - 70.9% of high school students got this question correct. Source: Jump$tart quiz and answers

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4. Under which of the following circumstances would it be financially beneficial to you to borrow money to buy something now and repay it with future income?

Explanation

The correct answer was "When you need to buy a car to get a much better paying job" - 57.8% of high school students got this question correct. Source: Jump$tart quiz and answers

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5. Many young people receive health insurance benefits through their parents. Which of the following statements is true about health insurance coverage?

Explanation

The correct answer was " If your parents become unemployed, your insurance coverage may stop, regardless of your age" - 40.3% of high school students got this question correct. Source: Jump$tart quiz and answers

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6. If you had a savings account at a bank, which of the following would be correct concerning the interest that you would earn on this account?

Explanation

The correct answer was "Income tax may be charged on the interest if your income is high enough" - 22.7% of high school students got this question correct. Source: Jump$tart quiz and answers

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7. Inflation can cause difficulty in many ways. Which group would have the greatest problem during periods of high inflation that last several years?

Explanation

The correct answer was "Older people living on fixed retirement income" - 44.1% of high school students got this question correct. Source: Jump$tart quiz and answers

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8. Doug must borrow $12,000 to complete his college education. Which of the following would NOT be likely to reduce the finance charge rate?

Explanation

The correct answer was "If he went to a state college rather than a private college" - 30.4% of high school students got this question correct. Source: Jump$tart quiz and answers

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9. Kelly and Pete just had a baby. They received money as baby gifts and want to put it away for the baby's education. Which of the following tends to have the highest growth over periods of time as long as 18 years?

Explanation

The correct answer was "Stocks" - 14.2% of high school students got this question correct. Source: Jump$tart quiz and answers

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10. If your credit card is stolen and the thief runs up a total debt of $1,000, but you notify the issuer of the card as soon as you discover it is missing, what is the maximum amount that you can be forced to pay according to Federal law?

Explanation

The correct answer was "$50" - 15.1% of high school students got this question correct.

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  • Mar 22, 2023
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  • Jan 18, 2009
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Which of the following instruments is NOT typically associated with...
If each of the following persons had the same amount of take-home pay,...
  Which of the following statements is true?
Under which of the following circumstances would it be financially...
Many young people receive health insurance benefits through their...
If you had a savings account at a bank, which of the following would...
Inflation can cause difficulty in many ways. Which group would have...
Doug must borrow $12,000 to complete his college education. Which of...
Kelly and Pete just had a baby. They received money as baby gifts and...
If your credit card is stolen and the thief runs up a total debt of...
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