Personal Financial Literacy Lesson 2 Review 1. Which of the following is an example of investing? a. Putting money into a piggy bank at home. b. Saving.

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Presentation transcript:

Personal Financial Literacy Lesson 2 Review 1. Which of the following is an example of investing? a. Putting money into a piggy bank at home. b. Saving spare change and using it to buy snacks. c. Buying a U.S. savings bond. d. Buying groceries for the family.

Personal Financial Literacy Lesson 2 Review 2. What is the difference between economic investment and personal investment? a. There is no difference. b. Economic investment involves risk; personal investment does not involve risk. c. Economic investment involves machines and technology; personal investment usually involves stocks and bonds. d. Personal investment involves the risk of losing the amount invested; there is no risk involved in economic investment.

Personal Financial Literacy Lesson 2 Review 3. In which of the following ways does personal investment differ from educational investment? a. Personal investment involves risk; educational investment always pay off. b. Personal investment can be easily turned into cash, while educational investment cannot. c. For personal investment only, costs must be paid in the present. d. For personal investment only, investors receive returns at some time in the future

Personal Financial Literacy Lesson 2 Review 4. Which of the following is not an investment? a. Buying 100 shares of Microsoft Inc. b. Buying a bond from Microsoft, which promises to pay back the money plus interest. c. Buying a bond issued by the government of Mexico. d. Buying a hamburger for lunch.

Personal Financial Literacy Lesson 1 Review 5. Which of the following is the best definition of saving? a. The discount received from buying something on sale b. Disposable income minus consumption spending c. Putting your money under your mattress d. The interest paid on a savings account

Personal Financial Literacy Lesson 1 Review 6. Which of the following is a reason to save? a. Your parents place a dollar into your savings for every dollar you save. b. The penalty for taking your savings out of the bank c. Not being able to buy something right now d. Having to go to the bank before making a purchase

Personal Financial Literacy Lesson 1 Review 7. If you have $50 in savings for one year at an interest rate of 6 percent, how much interest will you earn at the end of the year? a. $5 b. $4 c. $3 d. $2

Personal Financial Literacy Lesson 1 Review 8. If you divide the interest rate paid on savings into 72, the result tells you how many years it will take for your savings to double if you receive compound interest. At a compound interest rate of 10 percent, how many years will it take to double your money? a. 2.7 years b. 7.2 years c. 7.0 years d years