Financial Literacy Trivia Quiz! Ultimate Test!

15 Questions | Total Attempts: 248

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Financial Literacy Trivia Quiz! Ultimate Test!

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Questions and Answers
  • 1. 
    There is no penalty if I pay my credit card balance after the due date.
    • A. 

      True

    • B. 

      False

  • 2. 
    What percent of your paycheck should go towards your savings?
    • A. 

      10%

    • B. 

      5%

    • C. 

      25%

    • D. 

      50%

  • 3. 
    Treasury bills are a high-risk investment.
    • A. 

      True

    • B. 

      False

  • 4. 
    Saving is the same as investing.
    • A. 

      True

    • B. 

      False

  • 5. 
    If I have just started working, the first thing I should do is
    • A. 

      Build an emergency fund account

    • B. 

      Start a savings account

    • C. 

      Shop for office clothes

    • D. 

      Set aside money for a dream vacation

  • 6. 
    You will benefit from investing in only one type of investment vehicle.
    • A. 

      True

    • B. 

      False

  • 7. 
    To take up a financial plan and be committed to it, it is
    • A. 

      A burden to my financial success.

    • B. 

      Not really important.

    • C. 

      A necessity to me and my family.

    • D. 

      A compulsory because the government says to do so.

  • 8. 
    The BEST way to manage credit card debt is...
    • A. 

      To consistently pay a small part of the amount owed every month.

    • B. 

      To not pay every month but pay lump sum using my bonus at the end of the year.

    • C. 

      To pay the full amount owed for that month.

    • D. 

      To take up a personal bank loan to pay the credit card debt in full.

  • 9. 
    Mutual funds are...
    • A. 

      Very troublesome and should be avoided.

    • B. 

      A good asset to have in your portfolio.

    • C. 

      Very hard to understand since there are few people that can help.

    • D. 

      Hands down, a bad investment.

  • 10. 
    When should you start investing?
    • A. 

      Today

    • B. 

      Wait until you are 18 years of age

    • C. 

      At the age of 40

    • D. 

      When I start working

  • 11. 
    It’s a bad idea to start investing when you’re young.
    • A. 

      True

    • B. 

      False

  • 12. 
    Investing involves...
    • A. 

      Stocks and only stocks

    • B. 

      Bonds

    • C. 

      T-Bills

    • D. 

      GIC’s

    • E. 

      All of the above

  • 13. 
    Interest is...
    • A. 

      Good

    • B. 

      Bad

    • C. 

      All of the above

  • 14. 
    Credit Score is...
    • A. 

      Your score on an online quiz.

    • B. 

      A score given to an individual by banks based on their financial activities.

    • C. 

      An imaginary credit card.

    • D. 

      Similar to interest.

  • 15. 
    The best bank to open an account with is...
    • A. 

      BMO

    • B. 

      Royal

    • C. 

      Scotia

    • D. 

      TD

    • E. 

      The one that suits your needs