The US Treasury Department is getting on the bandwagon of rewarding kids' knowledge with money and is offering the chance at a $1,000 scholarship for teens who can ace a 35-question financial literacy quiz. This is one educational initiative that's taking a step in the right direction and hopefully it's a sign that finance will become more common in classrooms. The Wall Street Journal got its hands on five sample questions from the National Financial Literacy Challenge, and I've reproduced them here for you to test your knowledge — would your score be worthy of $1,000?
1 of 5Question 1
Tomster
Heine
3.1 Phillip Lim
Woohoo! 4 outta 5. I can't wait to tell my dad, he'll be proud.
1I like how most people calculate their net-worth, ex debt and think they're rich. Include debt, and most people have a negative net-worth.
Fill out an options trading application, or participate in a hedge fund and when calculating you have to include mortgage debt, excluding residence. Meaning you have to include the amount you owe on your mortgage, but can't include the value of your house.
2ugh! i guessed the right thing for the last question and changed it at the last minute! i'm so sad! oh well - i guess i DO know more than i thought
3heck yeah! five out of five! now gimme my $1K!
45/5
It's too bad the $$ isn't coming in for me yet.
5I only missed the first one! I used to work at a bank, so I should hope I know most of it.
6not bad for someone who doesn't read too much on financial things.
7not bad for someone who doesn't read too much on financial things.
8not bad for someone who doesn't read too much on financial things.
9that was harder then i thought
103 out of 5.. if I would have went with my gut though, it would have been 5/5! A grand would really come in handy right now, it's been hard times.
11I'm calling this a little bit of studying for my Investments exam on Tuesday... 5/5, hopefully my exam goes the same way!
12Post New Comment
Please share your opinion with our community, but make sure it is on topic and follows our Community Rules. We moderate comments and prohibit personal attacks, threats, spam, lewd images, or the promotion of your personal website.