Savings Test Question Preview (ID: 57698)


Savings. TEACHERS: click here for quick copy question ID numbers.

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) Certificate of Deposit
b) Money Market account
c) Regular savings account
d)

Which of these statements about saving is INCORRECT?
a) People often believe they are saving when they buy products at a listed discount, even if they didn't need the product in the
b) It is extremely difficult to open a savings account, as you typically need at least $10,000 for your initial deposit
c) Billions of dollars are spent on marketing to persuade consumers to spend money instead of saving it
d)

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) Save a certain percentage of each paycheck and deposit it directly into a savings account
c) Cover all of your wants and needs and save whatever is left over
d)

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
d)

Which represents possible goals from short-term to long-term? Save for…
a) Retirement, a house down payment, college tuition
b) A new cell phone, college tuition, a house down payment
c) Retirement, college tuition, a vacation
d)

Experts recommend that you save enough to cover 3 to 6 __________________ of expenses in your emergency fund.
a) Days
b) Months
c) Years
d)

Which of these is an example of Keeping up with the Joneses?
a) Buying new sneakers the day they come out, because you know others in your class will have them, too
b) Applying to the top colleges, to see if you'll get accepted what financial aid packages they'll offer
c) Saving for retirement as soon as you graduate college, to take advantage of compounding interest
d)

Which statement best describes a savings account?
a) This account offers a convenient way to pay bills and access cash from an ATM
b) This account pays you interest on money you have put away for later to help your money grow
c) This account typically allows an unlimited number of transactions per month
d)

What does it mean when someone says, living paycheck to paycheck.
a) Aunt Tina and her family don't have any money saved, and their paychecks are just barely covering monthly expenses, so they u
b) Aunt Tina and her family have high paying jobs and don’t worry much about money
c) Aunt Tina uses her paychecks as income to deposit into her checking and savings accounts
d)

Who is your favorite teacher?
a) Mrs. Bender
b) Ms. Bonczynski
c) Both
d)

Play Games with the Questions above at ReviewGameZone.com
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 57698 in the upper right hand corner or click here.

TEACHERS / EDUCATORS
Log In | Sign Up / Register

Help / Support / FAQ




Gaming Links