The Importance of Financial Literacy

The Importance of Financial Literacy

Assessment

Passage

Created by

LIM Moe

English

9th Grade

1 plays

Easy

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is financial literacy?

A skill to manage personal finances effectively

A method to increase spending

A way to avoid all financial risks

A technique to earn money quickly

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is financial literacy important for individuals?

It helps in making informed financial decisions

It guarantees wealth

It eliminates all financial risks

It ensures high returns on investments

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key aspect of financial literacy mentioned in the passage?

Avoiding debt and financial pitfalls

Maximizing credit card usage

Investing in high-risk stocks

Spending without a budget

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does financial literacy contribute to economic stability?

By equipping individuals to handle economic downturns

By encouraging excessive spending

By promoting high-interest loans

By reducing savings

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does planning for the future involve according to the passage?

Setting long-term financial goals

Spending all savings

Avoiding all investments

Ignoring retirement plans

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a fundamental outcome of being financially literate?

Making informed financial decisions

Avoiding all financial transactions

Guaranteeing financial success

Eliminating all financial risks

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What role do educators and policymakers have in financial literacy?

Prioritizing financial education

Ensuring everyone becomes wealthy

Promoting high-risk investments

Discouraging savings

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