Financial literacy reader quiz

By on November 24, 2015

Financial literacy teacher Lyndon Engle created this quick quiz on topics his Cocalico High students cover in their 45-day class. Test your own knowledge.

  1. What percent do you need as a down payment on a house to avoid Personal Mortgage Insurance?
  2. 10 percent
  3. 15 percent
  4. 20 percent
  5. 50 percent

 

  1. To avoid paying interest on a credit card you must:
  2. Pay the minimum payment each month
  3. Pay the full balance owed each month
  4. Pay $50 per month
  5. Everyone who has a credit card must pay interest

 

  1. An appropriate amount to have in an emergency savings fund is:
  2. Three to six months of bills
  3. $500
  4. $100
  5. $50

 

  1. Which of the following types of investments would be the most risky:
  2. Government bonds
  3. Blue chip Stocks
  4. Mutual fund made up of blue chip stocks
  5. A small company stock

 

(Answers appear at bottom of main CHS financial literacy feature.)

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