Quiz - Are you financially literate?
Go on. Test yourself. Even if you hate the subject of money (or think you know it all, or know nothing, or think it's not for you, or whatever). Take this short quiz. You know what they say... we can learn a lot from our mistakes.
QUIZ:
1. A good financial plan is... (pick one)
a.) one that makes me rich before I retire.
b.) a process, not an event. It is an ongoing process in which you gather and organize
information, set goals, and then figure out how to monitor progress toward goals.
c.) a document that comes from robust planning software and can present all sorts of
charts, graphs, and insightful hypothetical scenarios.
d.) not for me because I am beyond hope.
2. Variable interest rates are... (pick one)
a.) calculated based on a different base number each time. When the base varies, the rate
varies.
b.) indexed for inflation.
c.) rates that fluctuate according to market forces. Low rates will eventually rise; high rates
will eventually fall; neither is permanent.
d.) compounded on a non-regular basis, according to annuity tables, not according to
monthly schedules.
3. The most expensive thing about debit cards are the hidden fees. True or false?
4. Overdraft protection is a free tool offered by your bank to help you manage your finances
and to keep you from bouncing checks. True or false?
5. Student loans are unaffected if a person declares personal bankruptcy. True or false?
6. Copyright permission is... (pick one)
a.) not usually necessary for artists to deal with because so much content is in the public
domain.
b.) a form of legal monopoly power granted to individuals and/or corporations in order to
squash creativity and entrepreneurship.
c.) the last refuge of artists, writers, musicians, and other creatives who have no new ideas
coming to them so they have to rely on royalties from work they did back when they
were young.
d.) a strong and robust presence in the US, so you'd better understand how it might impact
your work.
7. You should never, ever, do anything that might hurt your credit rating. True or false?
8. A short sale on a house is... (pick one)
a.) when the deal is closed quickly, because you followed the short-form mortgage
application.
b.) when a house is sold for an amount that is less than the mortgage owed.
c.) a sale in which no cash changes hands: one house is swapped for another similar one.
d.) one that is executed primarily for tax purposes, but the owner is able to continue living
in the house.
9. You'll have enough money when you retire if you... (pick one)
a.) win the lottery.
b.) are an early investor in a successful internet startup.
c.) are finally discovered as a genius whose creative work is worth millions.
d.) put a little money aside each month, every month, for many many years.
e.) all of the above.
10. You have to file paperwork with the state you reside in if you decide to register your
business as a sole proprietorship. True or False?
QUIZ:
1. A good financial plan is... (pick one)
a.) one that makes me rich before I retire.
b.) a process, not an event. It is an ongoing process in which you gather and organize
information, set goals, and then figure out how to monitor progress toward goals.
c.) a document that comes from robust planning software and can present all sorts of
charts, graphs, and insightful hypothetical scenarios.
d.) not for me because I am beyond hope.
2. Variable interest rates are... (pick one)
a.) calculated based on a different base number each time. When the base varies, the rate
varies.
b.) indexed for inflation.
c.) rates that fluctuate according to market forces. Low rates will eventually rise; high rates
will eventually fall; neither is permanent.
d.) compounded on a non-regular basis, according to annuity tables, not according to
monthly schedules.
3. The most expensive thing about debit cards are the hidden fees. True or false?
4. Overdraft protection is a free tool offered by your bank to help you manage your finances
and to keep you from bouncing checks. True or false?
5. Student loans are unaffected if a person declares personal bankruptcy. True or false?
6. Copyright permission is... (pick one)
a.) not usually necessary for artists to deal with because so much content is in the public
domain.
b.) a form of legal monopoly power granted to individuals and/or corporations in order to
squash creativity and entrepreneurship.
c.) the last refuge of artists, writers, musicians, and other creatives who have no new ideas
coming to them so they have to rely on royalties from work they did back when they
were young.
d.) a strong and robust presence in the US, so you'd better understand how it might impact
your work.
7. You should never, ever, do anything that might hurt your credit rating. True or false?
8. A short sale on a house is... (pick one)
a.) when the deal is closed quickly, because you followed the short-form mortgage
application.
b.) when a house is sold for an amount that is less than the mortgage owed.
c.) a sale in which no cash changes hands: one house is swapped for another similar one.
d.) one that is executed primarily for tax purposes, but the owner is able to continue living
in the house.
9. You'll have enough money when you retire if you... (pick one)
a.) win the lottery.
b.) are an early investor in a successful internet startup.
c.) are finally discovered as a genius whose creative work is worth millions.
d.) put a little money aside each month, every month, for many many years.
e.) all of the above.
10. You have to file paperwork with the state you reside in if you decide to register your
business as a sole proprietorship. True or False?
For Quiz answers click here. Or, if you don't want to even know, go Home.
