How Financially Aware Are You?

In honor of Financial Awareness Day being this Month, we wanted to help you find out how aware you are! Are you up for the challenge?

Quiz Questions

1.
Suppose you had $100 in a savings account and the interest rate was 2% per year. After 5 years, how much do you think you would have in the account if you left the money to grow?
- A.
  More than $102
- B.
  Exactly $102
- C.
  Less than $102
- D.
  Don't Know
2.
What is the acronym that represents the percentage of how much credit costs you each year?
- A.
  ARM
- B.
  CPR
- C.
  CPA
- D.
  APR
3.
Which of the following are examples of an asset? Select all that apply
- A.
  Home
- B.
  Car
- C.
  Furniture
- D.
  Sneakers
- E.
  Cash
4.
You should pay down your largest debts first
- A.
  True
- B.
  False
5.
As a general rule, how many months' expenses do financial planners recommend that you set aside in an emergency fund?
- A.
  1-3 months
- B.
  3-6 months
- C.
  6-12 months
- D.
  12-15 months
6.
What is the formula for calculating your net worth?
- A.
  assets minus liabilities
- B.
  liabilities minus assets
- C.
  assets plus liabilities
- D.
  assets divided by liabilities
7.
You should start saving for retirement in your…
- A.
  30s
- B.
  50s
- C.
  40s
- D.
  20s

Quiz Outcomes

1.
Time To Hit The Books!
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Although you aren't the most financially aware, that is something that can easily change. All you have to do is take the time to educate youself, and the resources are unlimited!
2.
You Are Somewhat Financially Aware
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You are the person that can handle their finances just fine, but it wouldn't hurt to brush up on some financial terms and jargon. Although you don't need to have the knowledge of a financial advisor, keeping yourself up to date and educated is crucial!
3.
Are You A Financial Advisor?
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You are definitely financially aware and it shows! You have put in the work to keep yourself educated. You are on your way to millionaire status!