Financial Literacy Trivia Exam Quiz! MCQ

12 Questions | Total Attempts: 170

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Financial Literacy Trivia Exam Quiz! MCQ

Welcome to the Financial Literacy MCQ Quiz! Understanding how to make, utilize, and save money is essential in the world today. What about the different ways you can invest your savings? Take up this exciting quiz and get to see just how good you are when it comes to basic finance tricks and facts.


Questions and Answers
  • 1. 
    What percent of your pay check should go towards your savings?
    • A. 

      10%

    • B. 

      5%

    • C. 

      25%

    • D. 

      50%

  • 2. 
    Treasury bills are a high-risk investment.
    • A. 

      True

    • B. 

      False

  • 3. 
    Saving is the same as investing.
    • A. 

      True

    • B. 

      False

  • 4. 
    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

  • 5. 
    You will benefit from investing in only one type of investment vehicle.
    • A. 

      True

    • B. 

      False

  • 6. 
    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

  • 7. 
    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

  • 8. 
    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

  • 9. 
    It’s a bad idea to start investing when you’re young.
    • A. 

      True

    • B. 

      False

  • 10. 
    Investing involves...
    • A. 

      Stocks and only stocks

    • B. 

      Bonds

    • C. 

      T-Bills

    • D. 

      GIC’s

    • E. 

      All of the above

  • 11. 
    Interest is...
    • A. 

      Good

    • B. 

      Bad

    • C. 

      All of the above

  • 12. 
    The best bank to open an account with is...
    • A. 

      BMO

    • B. 

      Royal

    • C. 

      Scotia

    • D. 

      TD

    • E. 

      The one that suits your needs

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