Financial Literacy Quiz! Test Your Trivia Knowledge!

12 Questions | By Unfairedgeinc | Last updated: Mar 21, 2022 | Total Attempts: 162

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Financial Literacy Quiz! Test Your Trivia Knowledge! - Quiz

The greatest way to become financially literate is to put your knowledge and good sense into practice. Financial literacy comes with experience. If you know how to handle money, you will be that much wiser. Regarding this quiz, you must know which investment has shown to produce the highest returns over the long term and the house's actual value. If you are curious and want to learn more about finances, this is the quiz for you.

Questions and Answers

1.

How much in charges are you liable for if your credit card is stolen?
- A.
  
  $100
- B.
  
  $50
- C.
  
  $150
- D.
  
  You are not liable for any charges.
- E.
  
  You are liable for all charges.
2.

Which investment has shown to produce the highest returns over the long term?
- A.
  
  Bonds
- B.
  
  Mutual Funds
- C.
  
  Stocks
- D.
  
  Commodities
3.

Which loan is likely to have a lower interest rate?
- A.
  
  $5000 to go on an overseas vacation.
- B.
  
  $5000 to buy a used car.
- C.
  
  $5000 to go to school.
4.

Which of the following is not asset?
- A.
  
  A stock you own that pays dividends.
- B.
  
  A business you own that runs well without you.
- C.
  
  A house you use for your personal residence.
- D.
  
  A tax lien certificate you bought.
5.

Which of the following is the least liquid investment?
- A.
  
  Stocks
- B.
  
  Money Markets
- C.
  
  Certificates of Deposit
- D.
  
  Tax Lien Certificates
6.

Your insurance rates are set in stone and cannot be negotiated.
- A.
  
  True
- B.
  
  False
7.

Buying in bulk from stores like Sam's Club and Costco is:
- A.
  
  Cheaper
- B.
  
  More expensive
- C.
  
  Cheaper only if you do it right.
8.

Which of the following statements is true?
- A.
  
  You need a job to make money.
- B.
  
  A dollar saved is a dollar earned.
- C.
  
  All debt is bad.
- D.
  
  A mutual fund is well diversified.
- E.
  
  Managing your money does not restrict freedom.
9.

When looking for an asset to buy, the best kind to get is:
- A.
  
  One that everyone else is buying.
- B.
  
  One that is priced low.
- C.
  
  One that is undervalued.
- D.
  
  One that has a history of yielding good returns.
10.

Which of the following is a transaction where everybody wins?
- A.
  
  A wholesale real estate deal.
- B.
  
  An eBay sale.
- C.
  
  A stock trade.
- D.
  
  All of the above.
11.

What is the true value of a house?
- A.
  
  The appraised value.
- B.
  
  The fair market value.
- C.
  
  The average among its comparables.
- D.
  
  What someone else is will to pay for it.
12.

Which is more valuable?
- A.
  
  Your Time
- B.
  
  Your Money
- C.
  
  Your Spouse