 |
Test Your Personal Financial IQ
04-16-2011, 03:56 PM
|
#1
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,674
|
Test Your Personal Financial IQ
Take this little test. It's pretty simple for a financially literate group like this but if you are like me you may not score 100% (11/11) because I don't care to have much knowledge about new credit card laws that affect only those who do not pay off the monthly balance. 10/11 is my score. Still "perfect" according to the quiz. Wonder how I can be perfect if I missed one?
 Quote:
Even the most financially savvy individuals encounter and sometimes let personal finance myths influence how they manage their money. Some of these misconceptions are rooted in faulty information right from the start. Still others might have been valid at one point, but have only since become outdated. Try this short quiz to test your knowledge of some essential facts about sound money management. (Answers at bottom):
Read more: Financial literacy quiz: Test your financial IQ | Philly | 04/06/2011
|
__________________
Part-Owner of Texas
Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.
|
|
|
 |
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
|
04-16-2011, 05:16 PM
|
#2
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,037
|
9 out of 11 correct.
I missed the 60 day credit card question (I thought it was 30 days  ) and the automatic enrollment in 401(k) questions (a bit tricky  ).
So where's my prize? 
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
|
|
|
|
|
04-16-2011, 07:05 PM
|
#3
|
|
Recycles dryer sheets
Join Date: Nov 2010
Location: Houston/Galveston area
Posts: 163
|
I missed 1,3,9,11. I vegged on 11, shoulda got it right. The credit questions got me. I guessed at all of them and only got number 8 right.
|
|
|
|
|
04-17-2011, 08:50 AM
|
#4
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,304
|
I also got 9 of 11. The ones I missed had to do with credit ratings, something I don't care about at all. Last car I financed was a new 1982 Honda Prelude and we've never made an interest payment to a credit card company in our lives.
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
|
|
|
|
04-17-2011, 10:12 AM
|
#5
|
|
Thinks s/he gets paid by the post
Join Date: Oct 2010
Posts: 2,472
|
Everyone here is from Lake Wobegon.
|
|
|
|
|
04-17-2011, 10:25 AM
|
#6
|
|
Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,130
|
10 out of 11 - I missed the last one on car insurance.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
|
|
|
|
|
04-17-2011, 10:33 AM
|
#7
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,374
|
9 of 11. missed 2 and 11.
|
|
|
|
|
04-17-2011, 10:35 AM
|
#8
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
|
I stopped playing when I noticed a misstatement in question #2 . . .
Quote:
|
If I own a target-date mutual fund in my 401(k), which minimizes my risk of stock market losses as I approach retirement,
|
__________________
Retired early, traveling perpetually.
|
|
|
|
|
04-17-2011, 10:44 AM
|
#9
|
|
Recycles dryer sheets
Join Date: Jun 2007
Posts: 413
|
Quote:
|
Originally Posted by freebird5825
9 out of 11 correct.
I missed the 60 day credit card question (I thought it was 30 days ) and the automatic enrollment in 401(k) questions (a bit tricky ).
So where's my prize? |
10 out of 11. I did get the CC question but thought I'd miss it. I haven't carried a balance since '90 when interest was no longer deductible. Glad the greedy banks can't jack up rates so quickly.
__________________
Retired - Class of 2011
|
|
|
|
|
04-17-2011, 11:54 AM
|
#10
|
|
Recycles dryer sheets
Join Date: May 2007
Posts: 128
|
Got them all right, but got #11 correct for the wrong reason
|
|
|
|
|
04-17-2011, 02:06 PM
|
#11
|
|
Thinks s/he gets paid by the post
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
|
Got 10 for 11. Missed #1. I do not keep knowledgable about credit. We do not use credit, except for 1 credit card which is paid off monthly. Never mortgaged any of our houses. However, that is about to change. We have ordered a new Honda and they are offering 0.9% for 60 months. With a rate this low, I prefer to keep my money invested.
__________________
Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
|
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|
Linear Mode
