The Pathways to Success Personal Financial Literacy Questionnaire
College students need to learn about the many financial products, services, and providers to make sound financial decisions. Decisions you make about handling your finances during college can have a huge impact on your future. Before making major financial decisions, educate yourself about the options at your disposal. Learning and practicing sensible financial behavior or “fiscal fitness” now can lead to a life-time of financial success. Let's find out just how "fiscally fit" you are right now. This questionnaire was adapted from a survey designed by Jump$tart, a coalition of 180 organizations in America that promote financial literacy.
Last Name *
Your answer
First Name *
Your answer
Your General Knowledge
This section is meant to get a better sense of your overall personal finances and money management knowledge. Don't worry, you're not going to be penalize for your grade. The results will be used to see how much is it that you already know and whether there are any areas that require a little more attention.
Inflation can cause difficulty in many ways. Which group would have the greatest problem during periods of high inflation that last several years? *
Which of the following is true about sales taxes?
Rebecca has saved $12,000 for her college expenses by working part-time. Her plan is to start graduate school next year and she needs all of her money she saved. Which of the following is the safest place for her gradaute school money?
Which of the following types of investment would best protect the purchasing power of a family's savings in the event of a sudden increase in inflation?
Under which of the following circumstances would it be financially beneficial to you to borrow money to buy something now and repay it with future income?
Which of the following statemetns best describes your right to check your credit history for accuracy?
Your take home pay from your job is less than the total amount you earn. Which of the follwoing best describes what is taken out of your total pay?
Retirement income paid by a company is called:
Many people put aside money to take care of unexpected expenses. If Juan and Elva have money put aside for emergencies, in which of the following forms would it be of LEAST benefit to them if they needed it right away?
David found a job with a take-home pay of $2,000 per month. He must pay $900 for rent and $150 for groceries each month. He also spends $250 per month on transportation. If he bedgets $100 each month for clothing, $200 for restaurants and $250 for everything else, how long will it take him to accumulate savings of $600.
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?
Barbara has just applied for a credit card. She is an 18-year-old high school graduate with few valuable possessions and no credit history. If Barbara is granted a credit card, which of the following is the most likely way that the credit care company will reduce ITS risk?
Which of the following best describes the primary sources of income for most people age 20-35?
Chelsea worked her way through college earning $15,000 per year. After graduation, her first job pays $30,000. The total dollar amount Chelsea will have to pay in Federal Income taxes in her new job will:
If you are behind on your debt payments and go to a responsible credit counseling service such as the Consumer Credit Counseling Services, what help can they give you?
Rob and Maria are the same age. At age 25 Maria began saving $2,000 a year while Rob saved nothing. At age 50, Rob realized that he needed money for retirement and started saving $4,000 per while while Maria kept saving $2,000. Now they are both 75 years old. Who has the most money in his or her retirement account?
Many young people receive health insurance benefits through their parents. Which of the following statements is true about health insurance coverage?
Don and Bill work together in the finance department of the same company and earn the same pay. Bill spends his free time taking work-related classes to improve his computer skills; while Don spends his free time socializing with friends and working out at a fitness center. After five years, what is likely to be true?
If your credit card is stolen and the thief runs up a toal debt of $1,000, but you notify the issuer of the card as soon as you discover it is missing, what is the maximum amount that you can be forced to pay according to Federal law?
Which of the following statements is NOT correct about most ATM (Automated Teller Machine) cards?
Matt has a good job on the production line of a factory in his home town. During the past year or two, the state in which Matt lives has been raising taxes on its businesses to the point where they are much higher than in neighboring states. What effect is this likely to have on Matt's job?
If you have caused an accident, which type of automobile insurance would cover damage to your own car?
Scott and Eric are young men. each has a good credit history. They work at the same company and make approximately the same salary. Scott has borrowed $6,000 to take a foreign vacation. Eric has borrowed $6,000 to buy a car. Who is likely to pay the lowest finance charge?
When you earn a four-year degree, how much more money could you expect to earn than if you only had a high school diploma?
Many savings programs are protected by the Federal governemtn against loss. Which of the following is not?
If each of the following persons had the same amount take home pay, whoj would need the greatest amount of life insurance?
Which of the following instruments is NOT typically associated with spending?
Which of the following credit card users is likely to pay the GREATEST dollar amount in finace charges per year, if they are charge the same amount per year on thier card?
Which of the following statements is true?
Dan must borrow $12,000 to complete his college education. Which of the following would NOT be likely to reduce the finance charge rate?
If you had a savings account at a bank, which of the following would be correct concerning the interest that youwould earn on this acount?
Classification Questions
What is your gender?
What is the highest level of education you expect to achieve?
What is your best estimate of your parents' total income last year? Consider annual income from all sources of taxes.
What is the highest level of schooling your father or mother completed?
How do you describe yourself?
When you start to work full-time, after you finish your education, how much do you expect to make per year before deductions for taxes and other items?
How many credit cards do you use, including store credit cards?
Which of the following statements best describes the way in which you make payments on your credit cards?
What is the outstanding balance of all your credit cards?
When did you get your first credit card?
How often are you late paying your credit card bills?
When you finish your udnergraduate education, how much do you expect to owe in student loans?
Aside from any credi card debt or student loans you migh have, what other types of debt do you have? (check ALL that apply)
Do you have a checking account?
How often have you bounced your checkbook?
In what form do you hold your savings and investments? (Check ALL that apply)
How would you rate the savings and investments that you have?
Adequate for my needs right now
Much less than I should have right now
How much do you worry about your debt?
Who prepares your income taxes?
Which of the following classes did you ahve in high school? (Check ALL that apply)
Which of the following classes have you had in college? (Check ALL that apply)
What is your class standing?
Which of the following best descibes your major or area of interest in college?
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