Assessment Tool

Play and check your knowledge.

Choose among six different competency categories.

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The meaning of financial literacy

20 questions  🎯

1 / 20

Why is it important to value long-term financial security?

2 / 20

Why is it important to be financially literate, according to the examples provided?

3 / 20

What is the significance of recognizing the potential consequences of financial choices?

4 / 20

Which of the following is a soft skill related to financial literacy?

5 / 20

What is the primary goal of understanding the basic concepts of money management?

6 / 20

What does financial literacy provide the keys to today's complex financial landscape?

7 / 20

What is the ultimate aim of developing positive attitudes and values in financial literacy?

8 / 20

Why is it essential to embrace the notion of continuous learning?

9 / 20

Which skills are considered hard skills for financial literacy?

10 / 20

What are the fundamental aspects of financial literacy?

11 / 20

What is the primary goal of financial literacy for senior citizens?

12 / 20

What is the aim of instilling a proactive mindset in seniors?

13 / 20

Which attitudes and values are important for financial well-being?

14 / 20

What is the main purpose of budgeting in personal finance?

15 / 20

What is the goal of equipping citizens with practical and cognitive abilities?

16 / 20

Which skills are considered soft skills for financial literacy?

17 / 20

What kind of skills are required for financial literacy, according to the text?

18 / 20

Why is it important to make informed financial decisions?

19 / 20

What are some basic concepts of money management mentioned in the text?

20 / 20

What is financial literacy primarily about?

Your score is

The average score is 31%

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Online payments

20 questions  🎯

1 / 20

What are the areas to which the main risks of online payments relate to?

2 / 20

What is the key focus of the learning outcomes for seniors in the field of online payments?

3 / 20

What is the primary goal of cultivating specific attitudes and values in seniors regarding online payments?

4 / 20

What are some examples of hard skills required for online payments?

5 / 20

In the context of 'online payments' for senior citizens, what ethos is to be embraced?

6 / 20

What should seniors understand about common online payment scams and frauds?

7 / 20

Which of the following is considered a soft skill in the competence of online payments for seniors?

8 / 20

What is the primary reason for seniors to master online payments?

9 / 20

What is the main focus of the competence ‘online payments’?

10 / 20

Which of the following is NOT a part of the learning outcomes in the field of online payments?

11 / 20

What should seniors understand when it comes to keeping their financial information secure during online transactions?

12 / 20

Which of the following is a common online payment method?

13 / 20

What is the main goal of inculcating proactive and vigilant attitudes toward online payments in seniors?

14 / 20

What is one of the key soft skills required for mastering online payments?

15 / 20

What is the primary focus of developing attitudes and values in the context of 'online payments'?

16 / 20

Why is it important for seniors to be aware of common online payment scams and frauds?

17 / 20

Which of the following is NOT a part of ‘online payments’ competence?

18 / 20

What are the hard skills required in the competence of online payments for senior citizens?

19 / 20

What is one of the learning outcomes related to online payments?

20 / 20

What does "Online payments" expression primarily involve?

Your score is

The average score is 50%

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Banking operations and digital skills

20 questions  🎯

1 / 20

Which of the following is a recommended step to prevent unauthorized access to your bank accounts?

2 / 20

What is the purpose of a "debit card" in banking?

3 / 20

Which type of account typically earns the highest interest rate?

4 / 20

What does a "joint account" mean in banking?

5 / 20

What is the purpose of a "grace period" on a credit card?

6 / 20

What should you do if you suspect fraudulent activity on your bank account?

7 / 20

What does "APR" stand for in credit card terms?

8 / 20

Which of the following is a feature of biometric authentication in banking apps?

9 / 20

What is the purpose of a CVV/CVC code on a credit or debit card?

10 / 20

What is a "payee" in terms of banking?

11 / 20

Which of the following is NOT a typical characteristic of a phishing email?

12 / 20

Which technology allows contactless payments with a smartphone?

13 / 20

What is a common precaution against identity theft when using public Wi-Fi for banking?

14 / 20

What is the purpose of a "routing number" in banking?

15 / 20

Which of the following is a benefit of using online banking services?

16 / 20

What does the term "FDIC" stand for in banking?

17 / 20

Which of the following is NOT a typical function of mobile banking apps?

18 / 20

What does "phishing" refer to in online banking?

19 / 20

Which of the following is a secure way to create a strong online banking password?

20 / 20

What does ATM stand for?

Your score is

The average score is 20%

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/20

Budgeting and financial managment

20 questions  🎯

1 / 20

What type of account helps individuals save money for retirement with potential tax advantages?

2 / 20

What's the primary advantage of diversifying your investments?

3 / 20

What does "asset allocation" mean in investment planning?

4 / 20

Which insurance provides coverage for personal property damage or theft?

5 / 20

What's the advantage of compound interest in savings?

6 / 20

Which statement about loans and debts is generally true?

7 / 20

What's the main purpose of a will in financial planning?

8 / 20

What is the purpose of reviewing and adjusting a budget regularly?

9 / 20

How often should you review and adjust your budget?

10 / 20

Which factor can impact insurance premiums?

11 / 20

What does "ROI" stand for in finance?

12 / 20

Which investment is generally safer during tough economic times?

13 / 20

How can you improve your credit score?

14 / 20

What's the main purpose of a credit score?

15 / 20

What type of investment is typically considered risky?

16 / 20

What does an "emergency fund" help with?

17 / 20

Which of the following expenses is usually considered fixed?

18 / 20

What percentage of your income is recommended to save for the future?

19 / 20

What is an essential step in creating a personal budget?

20 / 20

What is the primary purpose of creating a personal budget?

Your score is

The average score is 0%

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Retirement and pension

20 questions  🎯

1 / 20

In the context of retirement accounts, what are "catch-up contributions"?

2 / 20

When are individuals required to start taking RMDs from their retirement accounts, such as a traditional IRA?

3 / 20

What are common payout options for a pension plan?

4 / 20

At what age are individuals generally eligible for Medicare benefits?

5 / 20

What impact does early retirement typically have on Social Security benefits?

6 / 20

How is the amount of Social Security benefits determined?

7 / 20

What does PEPP mean?

8 / 20

What is longevity risk in the context of retirement planning?

9 / 20

What does it mean to be "vested" in a pension plan?

10 / 20

At what age are individuals required to start taking RMDs from their traditional IRAs?

11 / 20

What is the penalty for early withdrawals from a traditional IRA before the age of 59½?

12 / 20

What does the IRA stand for?

13 / 20

At what age can individuals typically start receiving full Social Security benefits?

14 / 20

What is a defined benefit pension plan?

15 / 20

What is a defined contribution retirement plan?

16 / 20

What is Retirement?

17 / 20

What is a 401(k) plan?

18 / 20

When should you start planning for retirement?

19 / 20

What is a defined benefit pension plan?

20 / 20

The SECURE Act increased the age for starting RMDs from 70½ to _____ for individuals who turn 70½ on or after January 1, 2020.

 

Your score is

The average score is 13%

0%

Financial Security

20 questions  🎯

1 / 22

Why is estate planning important for financial security?

2 / 22

How does understanding your risk tolerance contribute to financial security?

3 / 22

Why is staying informed about the economy important for financial security?

4 / 22

What diversification means in the context of investments?

5 / 22

Setting specific and measurable financial goals is important because?

6 / 22

Reason for  identity theft could be?

7 / 22

What factor can’t  affect your credit score?

8 / 22

Why is having adequate insurance important for financial security?

9 / 22

At what age can individuals typically start withdrawing from their retirement accounts penalty-free?

10 / 22

Why is budgeting important for financial security?

11 / 22

What does life insurance primarily provide coverage for?

12 / 22

Which of the following is a long-term financial goal?

13 / 22

What is the recommended size of an emergency fund?

14 / 22

After determining your income, what is the next step in creating a budget?

15 / 22

What is the primary advantage of diversifying your investment portfolio?

16 / 22

What type of insurance provides coverage for medical expenses?

17 / 22

Why is it important to save for the future?

18 / 22

Why is it important to save for the future?

19 / 22

Why is it important to have an emergency fund?

20 / 22

What is the first step in creating a budget?

21 / 22

Which of the following is not a common budgeting method?

22 / 22

What is the best investment strategy for long-term financial security?

Your score is

The average score is 0%

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Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the European Education and Culture Executive Agency (EACEA). Neither the European Union nor EACEA can be held responsible for them. 2022-2-EL01-KA210-ADU-000093393

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