Middle School Financial Literacy Quiz

Question 1: Overall, which of the following is the best source of investment advice?

Question 2: If you bought shares in a mutual fund through an online broker and the mutual fund lost 10% of its value, who will support the loss?

Question 3: Which of the following financial instruments is not typically associated with borrowing?

Question 4: Melissa and Andrew have both borrowed $12,500 from the same credit union to buy the same model of a new car. Melissa's credit score is 729 and Andrew's credit score is 541. Who is likely to pay a higher finance charge?

Question 5: Mutual funds pool deposits from investors to purchase securities. Which of the following is true about mutual funds?

Question 6: Michael and Sharon have college education accounts for all of their three children. Which of the following accounts should have the most conservative holdings?

Question 7: Jenna has financed her house with a fixed-rate mortgage. She also has a large sum of money in a savings account, public companies shares in brokerage account, and a certificate of deposit. Which of these assets protect her against a sudden inflation increase?

Question 8: Retirement income paid by the US Federal government is named:

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