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Topics

Saving
Insurance
Retirement
Taxes
Life Changes
Housing
Borrowing and Credit
Investing
Budgeting
Running a Business

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Español
Français
简体中文 - 普通话
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Reward Quiz

Are you ready to take the quiz to test what you’ve learned?

Answer 4 out of 5 questions correctly and you’ll earn your reward.

Answer 4 out of 5 questions correctly to earn a reward

Question 1

How does compound interest differ from simple interest in the context of a CD?

A

B

C

D

Simple interest includes the money that has been earned, while compound interest is paid only on the principal.
A

B

C

D

Compound interest includes the money that has been earned, while simple interest is paid only on the principal.
A

B

C

D

Compound interest is only calculated once a year, while simple interest is calculated monthly.
A

B

C

D

Compound interest is the interest paid on the initial principal and the accumulated interest, while simple interest is not paid on any investment.

Question 2

What happens if you decide to withdraw your money from a CD or share certificate before it matures?

A

B

C

D

Your interest rate will double.
A

B

C

D

You'll face penalties and fees.
A

B

C

D

You'll receive an extra interest bonus.
A

B

C

D

You'll be able to withdraw without any penalties.

Question 3

What is a red flag when it comes to Over-the-Counter (OTC) stocks?

A

B

C

D

They can only be traded through a formal exchange.
A

B

C

D

They are always listed on a major stock market exchange.
A

B

C

D

They are illegal and highly volatile.
A

B

C

D

They lack information and are vulnerable to investment fraud.

Question 4

What is a key aspect to consider when managing your investment fees?

A

B

C

D

Review and minimize charges whenever possible.
A

B

C

D

Ensure that the investment fees are high to yield higher returns.
A

B

C

D

Opt for investments with higher fees as they often outperform those with lower associated fees.
A

B

C

D

Disregard small charges as they have no impact over the long term.

Question 5

What is the best description of a Certificate of Deposit (CD) or share certificate?

A

B

C

D

A promise to leave a certain amount of money in an account for a specified time, in exchange for high interest rates.
A

B

C

D

A type of savings account that provides a low interest rate for a specified term.
A

B

C

D

A type of loan issued by a credit union or bank that involves leaving a certain amount of money for a specific period of time.
A

B

C

D

A bond issued by a credit union or bank that requires a large initial deposit.

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