Can You Pass This Basic Financial Knowledge Test?
You may think you know alot about money, but are you truly financially savvy!?
>> We Can Tell Which Oddly High-Paying Job You'd Do Well In
What is a credit report?
A statement that lists your credit history and activity
A monthly report sent to you by your bank
A report that only lists your assets
What can lower a credit score?
Living the same house for too long
Late or missed payments
Buyng too many assets at once
What is simple interest rate?
Calculated based on indidivudal purchases
Calculated annually on the amount you deposit or owe
Only used for small businesses
What does an RRSP stand for?
Registered Roster Selling Plan
Registered Retirement Savings Plan
Retirement Registrar Savings Plan
What does high inflation mean?
Prices for goods is unusually high
The cost of living is going up
The cost of living is lowering
What are capital gains?
When you invest money in a company and you receive a return
Increase in an asset's sale value
The interest you receive from your savings account
What is the most valuable cryptocurrency currently?
Bitcoin Cash
Bitcoin
Ethereum
What is payout annuity?
A product that guarantees income in retirement
An annual payent that is an accrument of your compound savings interest
An annual sum that equals the sum of 5% of your RRSP
What is compound interest rate?
Interest that is added exponentially over time
Interest that is added based on the FICO score
Interest that is compounded from previous amounts
What is net worth?
All financial sums minus value of outstanding liabilities
Non financial sums minus liabilities
Liabilities mnus financal sums divided by interest
