Final Quiz

True or false: If you miss paying for your credit card on time, your score goes down.

• True

• False

What is the range of a good credit score?

• 600-700

• 950-1000

• 300-850

• 670-850

50% of your income is for your expenses and 30% is for your wants. What is the remaining 20% for?

• Anything I want

• Rent and bill payments

• Savings and investment

• False

True or False: Your passive income should cover your expenses.

• False

• True

Which of these does NOT count as earned from an active income?

• Tips

• Dividends

• Commissions

• Wages

How many types of taxes are there?

• 6

• 5

• 4

• 7

Social Security and Medicare are known as ____ taxes

True or false: The amount of income tax everyone pays is the same.

• False

• True

Which of these is NOT a retirement plan?

• Traditional IRA

• Roth IRA

• 401k

• HSA/FSA

True or false: Albert Einstein once said that compound interest is the 7th wonder of the world.

• True

• False