Financial Literacy Quiz

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Here are some questions for your financial literacy quiz. Consumers can also go to www.familycreditmanagement.org and click on "How Serious is My Debt?" to take our debt quiz.

1

You are on a budget when?
- You pay bills every month when they come due.
- You have planned your expenses to be less or equal to your income.
- You make enough money to be comfortable
- You hope that your bills will be paid by the end of the month every month.
2

Do you know that you can pull a credit report for free once every year?
- Yes
- No
- What is a credit report?
3

What is an excellent credit score?
- 700 to 760
- 500 to 560
- 761 to 850
- 561 to 600
- A & C
- B & D
4

How can I improve my credit score?
- Pay my bills on time.
- Keep your balances less than 30% of the credit limit.
- Keep your oldest account open.
- All of the above
- None of the above
5

When is the best time to begin saving for retirement?
- Once you begin your first job
- Once you have enough money to put aside some every month
- Once you are a few years away from retirement
- Once you have had your first child
6

You know that you are achieving financial success when you are paying what every month?
- The minimum balance on a credit card every month.
- Your rent or mortgage payment
- Yourself
7

Which of these might not be the best way to save money?
- Lower the temperature of your home at night and during the day when you're not at home
- Buy your summer clothes in winter and winter clothes in summer
- Buy an item when it is on sale
- Bring soda and coffee from home instead of buying them at work
8

What things can you do to prevent identity theft?
- Check your credit report regularly
- Pay attention to billing cycles
- Do not carry your passwords or PIN numbers with you
- Be careful about giving out your personal information
- All of the above
9

What are options available to fund a college education?
- Have you or your family pay for your education
- Fill out the FASFA and receive scholarships and loans
- Look into scholarships with your local guidance counselor or student aid center
- Attend a community college
- All of the above

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Financial Literacy Quiz

You are on a budget when?

Do you know that you can pull a credit report for free once every year?

What is an excellent credit score?

How can I improve my credit score?

When is the best time to begin saving for retirement?

You know that you are achieving financial success when you are paying what every month?

Which of these might not be the best way to save money?

What things can you do to prevent identity theft?

What are options available to fund a college education?

Post This Quiz

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