What Is Your Financial Literacy?

How Financially Literate Are You?

A recent ING survey found that most respondents have only basic knowledge of finance, meaning that even if they understand the simple rules of finance like emergency funds and saving for retirement, they find it hard to practice them. In fact, less than 60 percent even had a retirement plan. The survey also found that emotional health directly corresponded with financial literacy; the more knowledgeable about their finances people are the happier they feel. Do you think you are financially literate, or are you still learning? Take this FINRA Financial Quiz and test your knowledge.

Source: Thinkstock
1 of 5
If you have $100 in a savings account earning two percent interest a year, after five years, would you have more than $102, exactly $102, or less than $102?
Image
More than $102
Exactly $102
Less than $102
2 of 5
Imagine that the interest rate on your savings account is one percent a year and inflation is two percent a year. After one year, would the money in the account buy more than it does today, exactly the same, or less than today?
Image
More than it does today
Exactly the same
Less than today
3 of 5
If interest rates rise, what will typically happen to bond prices? Rise, fall, stay the same, or is there no relationship?
Image
Rise
Fall
Stay the same
No relationship
4 of 5
A 15-year mortgage typically requires higher monthly payments than a 30-year mortgage but the total interest over the life of the loan will be less.
Image
True
False
5 of 5
Buying a single company's stock usually provides a safer return than a stock mutual fund.
Image
True
False
Natalie Portman in Movie Jobs
?
next slidequiz
What's on Natalie Portman's Big Screen Résumé?
Latest

POPSUGAR Selfie : Get the new app!

+