* = correct answer
  • Which of the following is considered a "want"?
  • Which of the following is a type of savings vehicle?
  • Interest is:
  • Key
A.) Savings vehicles are only useful for long-term investments.B.) People should evaluate different forms of savings vehicles based on their needs.*C.) Savings vehicles are never insured.D.) All of the above
  • Which of the following savings vehicles usually requires a high minimum balance?
  • Which of the following accounts will give you the LEAST access to your money?
  • Which of the following is the most important consideration when planning your budget?
  • Which of the following is generally true about savings vehicles?
A.) Going to the movies with friends.*B.) Purchasing medicine for their asthma.C.) Transportation to get to and from school.D.) Buy fewer school books.
  • Which of the following is generally true about savings vehicles?
  • Your friend is overspending and in need of a budget. What type of expense should they reduce next month?
  • Which type of account typically has very high liquidity, low or no interest, and low minimum balance?
  • You are opening a savings account that earns compound interest. Which compounding frequency will earn you the MOST money?
A.) Certificate of DepositB.) Money Market AccountC.) Checking AccountD.) Both A & B*
  • Which of the following accounts will give you the LEAST access to your money?
  • Which of the following is a type of savings vehicle?
  • Which type of account typically has very high liquidity, low or no interest, and low minimum balance?
  • Which of the following is considered a "want"?
A.) Simple savings accountB.) Certificate of Deposit (CD)*C.) Checking accountD.) All of the above
  • Which of the following savings vehicles usually requires a high minimum balance?
  • Which of the following is the most important consideration when planning your budget?
  • Which of the following is a type of savings vehicle?
  • Which of the following accounts will give you the LEAST access to your money?
A.) a charge for lending money to a bankB.) the amount owed for borrowing money*C.) the amount added into your savings when opening a bank accountD.) a charge for the convenience of accessing money stored in your bank account
  • Interest is:
  • Your friend is overspending and in need of a budget. What type of expense should they reduce next month?
  • Which of the following is the most important consideration when planning your budget?
  • When it comes to saving money, what is a good rule of thumb?
A.) Annual Compounding*B.) Monthly CompoundingC.) Daily CompoundingD.) Semi-Annual Compounding
  • Anthony is deciding between different savings accounts at his bank. He has four options, based on how frequently interest compounds. Which should he choose if he wants the best rate of return on his interest?
  • Joy is taking out a car loan which she will pay back with interest. Which option will require her to pay the lowest amount in interest?
  • You are opening a savings account that earns compound interest. Which compounding frequency will earn you the MOST money?
  • To earn as much interest as possible, you should open a savings account that earns _______ interest and has the ______ interest rate.
A.) Simple savings accountB.) Certificate of Deposit (CD)*C.) Checking accountD.) Cash
  • Which of the following is generally true about savings vehicles?
  • Which of the following accounts will give you the LEAST access to your money?
  • Which of the following is a type of savings vehicle?
  • Which of the following savings vehicles usually requires a high minimum balance?
A.) compound; lowestB.) compound; highest*C.) simple; lowestD.) simple; highest
  • You are opening a savings account that earns compound interest. Which compounding frequency will earn you the MOST money?
  • Anthony is deciding between different savings accounts at his bank. He has four options, based on how frequently interest compounds. Which should he choose if he wants the best rate of return on his interest?
  • Joy is taking out a car loan which she will pay back with interest. Which option will require her to pay the lowest amount in interest?
  • To earn as much interest as possible, you should open a savings account that earns _______ interest and has the ______ interest rate.
A.) FruitB.) GatoradeC.) Food*D.) Pizza
  • Which of the following is a type of savings vehicle?
  • Which of the following is considered a "need"?
  • Which of the following is considered a "want"?
  • Which of the following accounts will give you the LEAST access to your money?
A.) help you plan how you will spend the money you earn or receive.*B.) stop you from spending too much money.C.) increase the balance of your savings accountD.) tell you how much you owe the government in taxes
  • Which of the following is generally true about savings vehicles?
  • The purpose of a budget is to:
  • When it comes to saving money, what is a good rule of thumb?
  • Interest is:
A.) Savings AccountB.) Certificate of Deposit (CD)*C.) Money Market AccountD.) Checking Account
  • What is the typical relationship between time and interest rate?
  • The purpose of a budget is to:
  • Jorge has $300 for work he performed. He expects to spend the money in the next few weeks to buy a new bike. Which type of account will be best for Jorge?
  • Tamara has $500 she is looking to save for a class trip. She wants to earn the most possible interest and will not need access to her money for a full year. Which type of savings account will be best for Tamara?
A.) Shorter time period usually equals higher interest rates.B.) Longer time periods usually have no affect on interest rates.C.) Longer time period usually equals higher interest rates.*D.) Shorter time periods usually have no affect on interest rates.
  • Tamara has $500 she is looking to save for a class trip. She wants to earn the most possible interest and will not need access to her money for a full year. Which type of savings account will be best for Tamara?
  • The purpose of a budget is to:
  • Jorge has $300 for work he performed. He expects to spend the money in the next few weeks to buy a new bike. Which type of account will be best for Jorge?
  • What is the typical relationship between time and interest rate?
A.) SocksB.) ShoesC.) Designer Sneakers*D.) A warm winter coat
  • Which of the following is considered a "want"?
  • Which of the following is considered a "need"?
  • Which of the following accounts will give you the LEAST access to your money?
  • Which of the following is a type of savings vehicle?
A.) Monthly CompoundingB.) Daily Compounding*C.) Annual CompoundingD.) Semi-Annual Compounding
  • To earn as much interest as possible, you should open a savings account that earns _______ interest and has the ______ interest rate.
  • You are opening a savings account that earns compound interest. Which compounding frequency will earn you the MOST money?
  • Anthony is deciding between different savings accounts at his bank. He has four options, based on how frequently interest compounds. Which should he choose if he wants the best rate of return on his interest?
  • Joy is taking out a car loan which she will pay back with interest. Which option will require her to pay the lowest amount in interest?
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