Personal Finance - Saving And Investing For The Future - Part 1 Question Preview (ID: 1925)


Review For Test.

Based on the Rule of 72, if the interest rate is 4%, how many years will it take for your money to double?
a) 20 years
b) 12 years
c) 18 years
d) 1 year

An IRA account:
a) is used to save for retirement
b) is not very liquid
c) is tax deferred
d) all of the above

Which of the following is the most liquid?
a) regular savings account
b) CD
c) IRA
d) Mutual fund

Stocks and bonds issued by corporations or by the government are called
a) dividends
b) savings accounts
c) securities
d) CDs

Diversification of investments helps to protect against large losses.
a) True
b) False
c)
d)

Some ways to make saving easier include direct deposit and automatic payroll deductions.
a) True
b) False
c)
d)

The more often interest is compounded, the lower your earnings.
a) True
b) False
c)
d)

It is not beneficial to start saving early.
a) True
b) False
c)
d)

Needs you expect to have in the next few months or years are
a) Short-Term
b) Long-Term
c)
d)

A sum of money deposited for a set length of time at a fixed interest rate is a
a) Bond
b) Stock
c) Mutual Fund
d) Certificate of Deposit

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