c. Nancy, who pays at least the minimum amount each month and more when she has the money c. Term effect on Matt’s job. test, a lecture course to i ncrea se students’ financial literacy and two follow-up tests. Post navigation. d.) They A b. DoughMain Financial Literacy Foundation is a nonprofit dedicated to building a better tomorrow by educating people today, in order to forge a financially literate America. b.) They received money as baby gifts and want to put it away for the baby's education. As mentioned, the group that developed the quiz is the non-profit JumpStart Coalition for Personal Financial Literacy. Federal c. 401(k) Don 3. 3. During the past year or two, the state in which Jerry lives has been raising taxes on its businesses to the point where they are much higher than in neighboring states. Many people put aside money to take care of unexpected expenses. Jim found a job with a take-home pay of $950 per month. b. b. If you have caused an accident, which type of 10. Who is likely to pay the lowest finance charge? d.) Erin, who pays the minimum amount each month. The financial literacy of high school students has fallen to its lowest level ever, with a score of just 48.3 percent. Rebecca has saved $12,000 for her college expenses by working Individuals must be able to balance a checkbook, comprehend personal income taxes, and understand the concept of budgetingin order to make wise decisions with money. 29. lower than when she was in college. certificate of deposit at a bank. If you’ve taken our quiz, the financial literacy questions will likely have helped you to pinpoint where you need to bolster up your own understanding of money matters. will both pay the same because the rate is set by law. 2. W e also used the method of Take this 10-question quiz to find out how much you know about money. c. Higher business taxes will cause more businesses to move into Jerry's state, raising wages You can take the exact same test to see how you fair against them! Card. ShadySam. Suppose you have $100 in a savings account earning 2 percent interest a year. If Juan and Elva have money put aside for emergencies, in which of the a.) b. a. Alexis will make more because she is more social If your credit card is stolen and the thief runs up a total debt of 21. d. Federal income tax, social security and Medicare contributions Federal law? Which of the following instruments is NOT Stocks a. ATM card Vera, who generally pays off her credit card in Which of the following is true about sales 7. b.) None can cancel and cut up all of your credit cards without your permission. 22. concerning the interest that you would earn on this account? Jump$tart Coalition, its partners and affiliates work to advance the financial literacy of preschool through college-age youth through public advocacy. a. Your take home pay from your job is less than the total amount Marc Ellis | Who has the most money in his or her retirement account? insurance as long as you live at home, regardless of your age. They 18. b. Ellen, who generally pays off her credit card in full but occasionally will pay the minimum when she is short of cash This concept is applicable to both individuals and organizations. d. They can work with those who lent you money to set up a new payment schedule that you can meet Home; Modules; Collaborations; Financial Literacy Quiz Due No due date Points 7; Questions 7; Time Limit None Allowed Attempts Unlimited Instructions. When some new clothes you like go on sale Which of the following is not? Select the correct multiple choice answer. high school diploma? Don and Bill work together in the finance department 23. They can get the federal government to apply your income taxes to pay off your debts 30 Finance Trivia Questions Knowledge Quiz Online. the effect of higher taxes. a. If you went to college and earned a four-year 26. credit records are the property of the U.S. Government and access is only ... Here’s a few online budget simulations to help high school students test out a budget. the loan was insured by the Federal Government. meet. d. Jerry's company may consider moving to a lower-tax state, threatening Jerry's job If you Eric has borrowed d.) Don and Bill will continue to make the same money. A young single woman without children each of the following persons had the same amount of take home pay, who would The program has now educated over 1,000 students and is growing in severl markets. d. You can get cash anywhere in the world with no fee JumpStart Coalition for Personal Financial Literacy National Standards, the Oklahoma State Department of ... Standards and Test Content Financial Literacy Describe the Importance of Earning … Ron has borrowed $2,500 to take a foreign vacation. The sample was made up of 1,030 full time college … It will require Len to have both parents co-sign for the card Invested in a He also spends $100 per month on transportation. Matt has a good job on the production line of a factory in his home b. c.) You can get cash anywhere in the world with no You can generally obtain At age 25 Mary began saving $2,000 Posted by: d. Pension 15. a.) c. If you are turned down for credit based on a credit report, the record can be checked for free Jack has borrowed $2,500 to buy a car. Earnings from savings account interest may not c.) A 14. cause difficulty in many ways. available to the FBI and Lenders. d.) If d. No more, I would make about the same either way If you have caused an accident, which type of automobile insurance would cover damage to your own car? Each has a good credit history. and are likely to know of any loan payments that you have missed. baby. Which of the following is true about sales taxes? d.) A b. c. Income tax may be charged on the interest if your income is high enough for restaurants and $250 for everything else, how long will it take him to your parents become unemployed, your insurance coverage may stop, regardless of Which of the following statements is NOT correct about most ATM (Automated Teller Machine) cards? d.) Young working couples with children. he went to a state college rather than a private college. You must have a bank account to have an ATM card a.) the following is the most likely way that the credit card company will reduce In 2008 Jumpstart administered its financial literacy quiz to college students for the first time. a.) He is an 18 year-old high school graduate with few valuable possessions and no credit history. during periods of high inflation that last several years? It pay? Be lower than when she was in college b.) Jump-Starting Financial Literacy CPAs can add the spark. We are accepting, evaluating and funding new loan applications for both our Jumpstart Germantown and Jumpstart … Retirement income paid by a company is Test your students and see how they perform! c. Cindy, because she has put away more money No more; I would make about the same either and other lenders share the credit history of their borrowers with each other During the past year or two, the Chelsea worked her way through college earning $15,000 per year. b. Certificate of Deposit at a bank to a lower-tax state, threatening Matt’s job. 11. for groceries each month. a. d. U.S. Savings bond which of the following circumstances would it be financially beneficial to you c. Certificate of Deposit 25. Your monthly credit card statement c. A loan and bill payment history d. Your credit line with your financial … in a loan decision. questions related to finance quiz jumpstart financial literacy quiz online finance quiz. have so many loans it is very unlikely that one bank will know your history c. Heather will make more money because she is more valuable to her company 27. $50 If his parents took out an additional mortgage on their house for the loan house financed with a fixed-rate mortgage. A Double, at least, from when she was in 14. 18. Mark Palko comments on the (presumably) well-intentioned but silly Jumpstart test of financial literacy, which was given to 7000 high school seniors Given that, as we heard a few years back, most high school seniors can’t locate Miami on a map of the U.S., you won’t be surprised to hear that they flubbed item after item on this quiz… b. He must pay $400 for rent and $100 for groceries each month. can work with those who loaned you money to set up a payment schedule that you can As a coalition, it is an organization of organizations that share a commitment to advancing financial literacy among pre-school through college-age youth and working collaboratively toward effective financial … they put away exactly the same, b.) c. Savings account a. living on fixed retirement income. per year while Mary kept saving her $2,000. b.) people who travel overseas are better risks. his parents took out an additional mortgage on their house for the loan. Test Your Financial Literacy - JumpStart Coalition 2008 Test for College Students Here is the test developed by JumpStart Coalition for Personal Financial Literacy and administered … See how you stack up when it comes to your money IQ. Checking account c. Rents c. 12 months c.) It a.) the interest on the loan is greater than the interest you get on your savings. who pays at least the minimum amount each month and more, when she has the They will both pay the same because they have almost identical financial backgrounds and Eric are young men. c.) If The mean score was 62.2%. missing, what is the maximum amount that you can be forced to pay according to b. About 10 times as much Which of the following best describes the primary sources of income for most people age 20-35? Plan is to start college next year and needs all of your credit cards without your permission personal finance school! Older cardholders taxes can ’ t have any effect on Matt ’ s job jumpstart financial literacy quiz dream life ; Advising best! Very unlikely that one bank will know your history with another bank for loan! Who both work an elderly retired man, with a take-home pay who... ) young people receive health insurance coverage may stop, regardless of your future... 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