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WorksheetsLearning By Design Personal Financial Literacy Quiz
Total questions: 25
Worksheet time: 13mins
An average career will last approximately how many hours if you work for 43 years?
86,000 hours
750,000 hours
8,600 hour
860 hours
A credit report is:
A list of your financial assets and liabilities
Your monthly credit card statement
A loan and bill payment history
Your credit line with your financial institution
. In terms of credit, what does APR stand for?
Annual Percentage Rate
Annual Penalty Rate
Annual Payment Rate
. Annual Payoff Rate
Who insures your stocks in the stock market?
The Federal Deposit Insurance Corporation
The Securities and Exchange Commission
The U.S. Department of the Treasury
Stocks are not insured
The type of car you own affects the price you pay for auto insurance.
True
False
How many days does a creditor have to acknowledge your written complaint about a billing error?
30 days
60 days
90 days
120 days
If your credit card was lost or stolen and used to charge items you didn't authorize, you are responsible for what amount?
Up to $50
Up to $100
Up to $500
All Unauthorized Charges
Negative financial information (excluding bankruptcy) can stay on your credit report for:
1 Year
5 Years
7 Years
10 Years
By using unit pricing at the grocery store, you can easily compare the cost of any brand and any package size.
True
False
There is no such thing as Unit Pricing
The recommended gasoline for most cars is regular octane.
True
False
All telephone numbers that begin with an "8" are toll-free.
True
False
In financial transactions, a CD is a:
Certificate of Debt
Certificate of Deposit
Citizens Deposit
Collateral Deposit
The "Rule of ___" tells you how long it will take to double your money.
99
27
72
3.1416
When you purchase a brand-new car…
You own an asset that is likely to depreciate in value.
Your net worth will probably increase immediately by at least 5% of the car’s purchase price.
You will receive reduced auto insurance rates compared to older-model used cars.
You will receive lower registration rates compared to older-model used cars.
Sara and Joshua just had a baby. They received money as baby gifts and want to put it away
for the baby's education. Which of the following tends to have the highest growth over periods of
time as long as 18 years?
A Checking Account
Stocks
US Savings Bonds
Bitcoin
Many young people receive health insurance benefits through their parents. Which of the
following statements is true about health insurance coverage?
You are covered by your parents' insurance until you marry, regardless of your
age.
If your parents become unemployed, your insurance coverage may stop, regardless of your age.
Young people don't need health insurance because they are so healthy.
You continue to be covered by your parents' insurance as long as you live at home, regardless of your age.
Contains the account holder's account number and allows money (cash or check) to be deposited into the correct account.
Deposit Slip
Check Register
Debit Card
pIN
Which of the following refers to the payee's signature on the back of the check?
signature card
endorsement
check register
bank statement
Buying a treasury bill (T-bill) is best for investors who are looking for:
a place to invest between $100-$500
a secure, low risk investment
higher yield on their investment than corporate bonds offer
an investment that matures in 10-30 years.
To determine the time value of depositing $100 in a savings account, a person needs to know the interest rate and
his/her total income
the rate of inflation
whether the account is FDIC protected
whether the bank offers overdraft protection
When preparing your tax return, the total of your income from all your sources is your _
net income
gross income
adjusted gross income
annual income
A set of forms that taxpayers use to calculate their tax obligation is a:
W4's
1099-INT's
Tax Returns
Bank Statement
You are texting and driving and suddenly you wreck your car. The insurance company says that it is totaled. The car was worth $7,000. To be totaled, the insurance company says it will cost this much to repair it:
$7,000
$4,000
$9,000
$0
Which of the following drivers is likely to be charged the highest insurance premiums for driving a vehicle?
A 19-year-old man living in a large city
A 27-year-old man living in a suburban area
A 23-year-old woman living in a rural area
A 27-year-old woman living in a large cit
Youi have a $1,000,000 Life Insurance policy that will lapse, or expire in 30 days if you do not pay the premium. That 30 day period is known as the
Grace Period
Indemnification Period
Actuarial Window
Deductible
