Financial Literacy Review

A good age to open a checking account is between the ages of 13 and 15

• True
• False

If your mortgage payment exceeds _______ amount of your income, you have bought more house than you can afford

• 15%
• 20%
• 25%
• 30%

The number one cause of divorce in America is

• Politics
• Children
• In Laws
• Money Issues

The power of cash is immediate

• True
• False

Never buy something you do not fully understand.

• True
• False

You need a credit card in order to rent cars and check into hotels

• True
• False

Rate of Return matters when it comes to compound interest.

• True
• False

Never roll over your 401K when you leave a company

• True
• False

Increasing your deductible usually _________ the Insurance premium

• Increase
• decrease
• doesn't change

The Roth IRA is a _____________ tax investment that grows _________.

• After,   Taxed
• Pre,  Taxed
• After, Tax Free
• Pre, Tax Free