1. What’s the minimum amount of money you should have saved for emergencies?
A ) One months ’ living expenses . B ) Three months ’ living expense . C ) Six months ’ living expenses .
2. What kind of debt should you pay off first?
A ) Car loanB ) Credit cardC ) Whatever has the high interest charge per unit
3. When should you begin paying off your student loans?
A ) 1 years after collegeB ) As soon as possibleC ) 5 year after college
4. How much of your income should you be saving for retirement?
A ) 2 percentB ) 10 percentC ) 5 percent
5. What two factors listed here are among the five that go into calculating your credit score?
A ) Payment history , amount of debtB ) Portfolio variety , number of loan applicationsC ) Savings invoice balance income tax owed
6. If you’re given a $100 loan with a 2 percent interest rate, how much will you owe in 1 year?
A ) $ 102B ) $ 112C ) $ 120
7. Which of these is NOT a way to build credit history?
A ) use up out a loan ( either in your name or as a cosigner)B ) buy a government savings bondC ) Signing up for a reference batting order
8. If your employer will match your contribution, which is the best retirement savings option?
A ) 401 ( k)B ) Roth IRAC ) HSA
9. What is the primary difference between a savings and a checking account?
A ) Money in savings is just for emergencies ; money in checking is for everyday expenditureB ) Money in checking earn interest ; money in nest egg is there when I involve it quicklyC ) Money in savings earns interest ; money in checking is well accessed
10. What percentage of your take-home pay should go toward housing each month?
A ) Around 50 percentB ) Around 30 perfectC ) Around 60 percent
11. Which of these activities will negatively impact your credit score?
A ) Applying for a loanB ) Withdrawing money from a 401(k ) before retirementC ) Using a gamy percentage of the credit useable to you
12. How much does it cost to check your credit score?
A ) Nothing!B ) Around $ 9.99 per reportC ) I bet over $ 19.99 per month
Answers : 1 : carbon ; 2 : C ; 3 : group B ; 4 : B ; 5 : A ; 6 : A ; 7 : B ; 8 : A ; 9 : C ; 10 : B vitamin ; 11 : C ; 12 : A
