#1
Which of the following is a type of financial institution?
Hospital
University
Bank
Library
#2
What is the primary function of a mortgage?
To provide insurance coverage
To lend money for buying a home
To offer credit card services
To facilitate international trade
#3
What is the role of the Federal Reserve in the United States?
Regulating telecommunications
Controlling the money supply and interest rates
Overseeing environmental policies
Managing foreign relations
#4
What is the purpose of a FICO score in the context of creditworthiness?
To measure annual income
To evaluate investment returns
To assess credit risk based on credit history
To determine loan interest rates
#5
What is the meaning of the term '401(k)' in the context of retirement savings?
A government regulation
A form of health insurance
An employer-sponsored retirement savings plan
A type of mortgage loan
#6
What does APR stand for in the context of loans?
Annual Percentage Rate
Average Payment Ratio
Accumulated Principal Return
Asset Portfolio Revenue
#7
What is the purpose of a credit score?
To measure a person's income
To evaluate creditworthiness
To determine social status
To calculate tax liability
#8
In the context of finance, what does ROI stand for?
Return on Investment
Rate of Inflation
Repayment of Interest
Revenue from Operations
#9
What is a mutual fund?
A type of insurance
A form of government aid
An investment vehicle that pools funds from multiple investors
A personal savings account
#10
What is the purpose of insurance in personal finance?
To provide investment returns
To protect against financial loss or risk
To offer retirement benefits
To facilitate online transactions
#11
What is a 401(k) plan?
A type of student loan
An employer-sponsored retirement savings plan
A real estate investment
A short-term personal loan
#12
Which type of loan is secured by collateral?
Unsecured Loan
Personal Loan
Secured Loan
Student Loan
#13
What is the role of a financial advisor?
Cooking meals
Providing investment advice
Repairing cars
Teaching mathematics
#14
What is the difference between a traditional IRA and a Roth IRA?
Tax-free withdrawals in traditional IRA
Tax-free withdrawals in Roth IRA
Tax deduction for contributions in traditional IRA
Tax-free contributions in Roth IRA
#15
What is the term for a sudden and significant decline in the value of a financial market?
Boom
Recession
Depression
Crash
#16
What does the term 'liquidity' refer to in financial terms?
A measure of how easily an asset can be converted to cash
A type of investment strategy
The cost of borrowing money
A form of tax deduction
#17
What is the difference between a stock and a bond?
Stock represents ownership in a company, while a bond is a form of debt
Stock and bond are terms used interchangeably
Stock is a form of government security, and a bond represents company ownership
Stock and bond both represent company ownership