Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Savings Test
Test Description: Savings
Instructions: Answer all questions to get your test result.
1) Juan saved $1,000 from his summer job. Which of these would work best for him if he doesn't need access to the money right away AND wants to earn the highest interest rate?
A
Money Market account
B
Regular savings account
C
Certificate of Deposit
2) Which of these statements about saving is INCORRECT?
A
It is extremely difficult to open a savings account, as you typically need at least $10,000 for your initial deposit
B
People often believe they are saving when they buy products at a listed discount, even if they didn't need the product in the
C
Billions of dollars are spent on marketing to persuade consumers to spend money instead of saving it
3) Which of the following is an effective strategy for personal saving?
A
Wait until the end of the month and save whatever is left in your checking account
B
Cover all of your wants and needs and save whatever is left over
C
Save a certain percentage of each paycheck and deposit it directly into a savings account
4) Which of these account types allow you to write checks from the account?
A
Checking accounts only
B
Checking accounts and online savings accounts
C
Checking accounts and money market accounts
5) Which represents possible goals from short-term to long-term? Save for…
A
Retirement, a house down payment, college tuition
B
Retirement, college tuition, a vacation
C
A new cell phone, college tuition, a house down payment
6) Experts recommend that you save enough to cover 3 to 6 __________________ of expenses in your emergency fund.
A
Months
B
Days
C
Years
7) Which of these is an example of Keeping up with the Joneses?
A
Saving for retirement as soon as you graduate college, to take advantage of compounding interest
B
Applying to the top colleges, to see if you'll get accepted what financial aid packages they'll offer
C
Buying new sneakers the day they come out, because you know others in your class will have them, too
8) Which statement best describes a savings account?
A
This account typically allows an unlimited number of transactions per month
B
This account pays you interest on money you have put away for later to help your money grow
C
This account offers a convenient way to pay bills and access cash from an ATM
9) What does it mean when someone says, living paycheck to paycheck.
A
Aunt Tina and her family have high paying jobs and don’t worry much about money
B
Aunt Tina uses her paychecks as income to deposit into her checking and savings accounts
C
Aunt Tina and her family don't have any money saved, and their paychecks are just barely covering monthly expenses, so they u
10) Who is your favorite teacher?
A
Ms. Bonczynski
B
Both
C
Mrs. Bender
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?