Strategy Beginner:
Saving for Short, Mid and Long-Term Goals
Test your knowledge
Choose wisely. There is only one correct answer to each question.
0%
Keep studying!
Review your answers below to learn more.
1.
One type of mid-term savings vehicle you can use to meet a mid-term savings goal is a(n) _______.
Choose wisely. There is only one correct answer.
Balanced mutual fund
Commodities fund
Exchange-traded fund
Balanced mutual fund. You can use this to meet a mid-term savings goal.
2.
You can set up an automatic investment plan with a state college savings plan to help save for a childs college education.
Choose wisely. There is only one correct answer.
True
False
True. Setting up an automatic investment plan with a state college savings plan will help fund a childs college education.
3.
To fully fund an emergency fund, you need to save at least _______ months of living expenses.
Choose wisely. There is only one correct answer.
One to three
Three to six
Six to nine
Three to six. To fully fund an emergency fund, you need to save at least this much -- some advisors suggest even more.
4.
As you grow older, your savings goal may ________.
Choose wisely. There is only one correct answer.
Change
Stay the same
Disappear
Change. As you grow older, your savings goals are likely to change.
5.
What is one mid-term savings goal?
Choose wisely. There is only one correct answer.
Retirement
Buying a new car
Paying for a vacation
Buying a new car. Buying a new car is a mid-term savings goal.
Submit
DONE