If you're financially savvy and a bit on the frugal side, this is the quiz for you! Are you ready to put your financial knowledge to the test? Let's find out just how good you really are!
Question 1/10
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Which of the following is NOT a function of the U.S. Federal Reserve?
Promoting high levels of employment
Maintaining price stability
Setting tax rates
Question 2/10
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How are variable credit card rates determined?
They are based on your credit card balance and payment history
They follow the prime interest rate.
They are based on the prime interest rate plus the bank’s margin.
Question 3/10
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Which of these is NOT a retirement account?
529
IRA
401K
Question 4/10
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Which of the following factors does not affect your credit score?
Age
Payment history
Money owed
Question 5/10
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Which of these things is not necessary to help you build credit?
Credit history
On time bill payments
Revolving debt
Question 6/10
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If you have multiple credit card balances, the best way to tackle them is....
In order of highest interest rate
In order of largest balance
In order of smallest balance
Question 7/10
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Should you keep your savings in a high interest account or a low interest account?
High interest accounts
Low interest accounts
It doesn't matter
Question 8/10
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True or false: Experts recommend waiting at least 48 hours before buying an item as it can curb impulse buys.
True
False
Question 9/10
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To be prepared for retirement, you should:
Save three times your annual salary by age 40.
Save $1 million by age 60
Create a saving plan that meets your personal goals
Question 10/10
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Do experts recommend choosing quality or quantity when buying items?
Quality
Quantity
It depends on the item
This quiz revealed that you're not really up to date just yet on financial information. While you may know the basics, the ins and outs of the financial world can send you for a loop. Fret not, there's always time to learn!
C+, Money Moot
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Right!
Based on the results of this quiz, you are truly financially savvy! It's obvious that being knowledgable about finances is truly important to you. Though you may not be an expert just yet, you're well on your way!
B+, Financially Savvy
staticflickr.com
Right!
Based on the results of this quiz, you are a true financial ace! you know just about all there is to know when it comes to finances, savings, and retirement. It's clear that spending and saving the smart way is very important to you!
A+, Financial Ace
staticflickr.com
Right!
1
Which of the following is NOT a function of the U.S. Federal Reserve?
Promoting high levels of employment
Maintaining price stability
Setting tax rates
2
How are variable credit card rates determined?
They are based on your credit card balance and payment history
They follow the prime interest rate.
They are based on the prime interest rate plus the bank’s margin.
3
Which of these is NOT a retirement account?
529
IRA
401K
4
Which of the following factors does not affect your credit score?
Age
Payment history
Money owed
5
Which of these things is not necessary to help you build credit?
Credit history
On time bill payments
Revolving debt
6
If you have multiple credit card balances, the best way to tackle them is....
In order of highest interest rate
In order of largest balance
In order of smallest balance
7
Should you keep your savings in a high interest account or a low interest account?
High interest accounts
Low interest accounts
It doesn't matter
8
True or false: Experts recommend waiting at least 48 hours before buying an item as it can curb impulse buys.
True
False
9
To be prepared for retirement, you should:
Save three times your annual salary by age 40.
Save $1 million by age 60
Create a saving plan that meets your personal goals
10
Do experts recommend choosing quality or quantity when buying items?
Quality
Quantity
It depends on the item
