Yo, Money Matters Knowledge Quiz

15 Questions

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Money Quizzes & Trivia

How well do YOU know basic personal finance? Take this quick quiz to find out!


Questions and Answers
  • 1. 
    • A. 

      Your morning latte

    • B. 

      Your school textbooks

    • C. 

      Your weekly groceries

    • D. 

      All of the above

  • 2. 
    Debit cards are more similar to cash than credit cards.
    • A. 

      True

    • B. 

      False

  • 3. 
    Research shows that more than ___% of people share their PIN number with at least one person.
    • A. 

      10

    • B. 

      25

    • C. 

      50

    • D. 

      60

  • 4. 
    • A. 

      You don’t have to pay interest or monthly bills.

    • B. 

      You have unlimited amounts of money to spend for as long as you like.

    • C. 

      You don’t have to provide as much personal information to attain one.

    • D. 

      You have access to a lender’s money.

  • 5. 
    Debit cards have a credit limit.
    • A. 

      True

    • B. 

      False

  • 6. 
    • A. 

      Below 649

    • B. 

      650-699

    • C. 

      700-749

    • D. 

      750+

  • 7. 
    • A. 

      Credit cards are regulated to meet ISO 7810 standards.

    • B. 

      The Treaty of Ghent designated a universal card size.

    • C. 

      Because of the size of wallet slots, they have become standardized.

    • D. 

      A card’s magnetic strip must be 3.375 inches wide to accommodate necessary information.

  • 8. 
    • A. 

      To determine how much money you can borrow from a financial institution

    • B. 

      To determine your interest rate

    • C. 

      To reveal your reputation as a borrower

    • D. 

      All of the above

  • 9. 
    • A. 

      A checking account allows you to deposit and withdraw money.

    • B. 

      A checking account is a type of savings account.

    • C. 

      A checking account only allows you to deposit and withdraw checks.

    • D. 

      A checking account only allows for a limited amount of withdrawals and deposits.

  • 10. 
    Which of the following is true?
    • A. 

      A savings account allows for an unlimited amount of withdrawals and deposits.

    • B. 

      A savings account allows for a limited amount of withdrawals and deposits.

    • C. 

      A savings account is a type of checking account.

    • D. 

      A savings account is intended for money that you desire to access frequently.

  • 11. 
    Savings accounts _________________.
    • A. 

      Generally offer a higher interest rate than checking accounts

    • B. 

      Generally are more liquid than checking accounts

    • C. 

      Generally should be used for long-term holding periods

    • D. 

      Generally offer the ability to write checks without incurring extra fees or expenses

  • 12. 
    • A. 

      The rate at which your money inflates.

    • B. 

      The percentage amount that you are borrowing from a financial institution.

    • C. 

      The percentage amount of assets over debt that you have.

    • D. 

      The rate at which a borrower is charged by a lender, expressed as a percentage of principal.

  • 13. 
    • A. 

      Simple Interest =

    • B. 

      Simple Interest =

    • C. 

      Simple Interest =

    • D. 

      Simple Interest =

  • 14. 
    • A. 

      Compound Interest = 

    • B. 

      Compound Interest =

    • C. 

      Compound Interest =

    • D. 

      Compound Interest =

  • 15. 
    Which of the following is true?
    • A. 

      Simple interest over time generates a higher interest amount.

    • B. 

      Compounded interest takes into account the accrued interest from previous months.

    • C. 

      Compounded interest is only used by banks.

    • D. 

      Simple interest takes into account the accrued interest from previous months.