Personal Finance Fundamentals Test

What percentage of young adults aged 18-24 live with their parents?

• 45%
• 56%
• 62%
• 73%

What is typically the largest utility bill expense for a household?

• Gas
• Water/Sewer
• Electricity
• Internet

What is the recommended down payment percentage when purchasing a home?

• 10% of the home price
• 15% of the home price
• 20% of the home price
• 25% of the home price

Which type of fee for having a pet in a rental property is refundable?

• Pet rent
• Pet deposit
• Pet fee
• Monthly pet charge

How much money does a college graduate earn more per week compared to someone with some college education?

• $301
• $401
• $501
• $601

What is the purpose of equal billing for utilities?

• To increase monthly payments
• To pay less overall for utilities
• To have consistent monthly payments
• To avoid utility deposits

What is the main difference between direct and indirect college costs?

• Direct costs are optional, indirect costs are required
• Direct costs are paid to the college, indirect costs are not
• Direct costs are lower than indirect costs
• Direct costs occur yearly, indirect costs occur monthly

What is a security deposit typically equal to when renting?

• Half month's rent
• One to two months' rent
• Three months' rent
• Four months' rent

Which is NOT a common way to deposit money into a checking account?

• Mobile deposit
• ATM deposit
• Wire transfer
• Social media transfer

How much money is insured by the FDIC in a bank account?

• $100,000
• $150,000
• $200,000
• $250,000