Could You Benefit From Financial Coaching? Trivia Quiz

8 Questions | By Miri | Updated: Mar 10, 2023 | Attempts: 3041

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Could You Benefit From Financial Coaching? Trivia Quiz - Quiz

Are a financial genius? Do you have the knowledge required to create a secure financial future or could you benefit from financial coaching? Take the following quiz to find out if you could benefit from the advice of a financial coach or if you already know all there is to know!

Questions and Answers

1.

When considering purchasing a new home, or renting a new apartment, what percentage of your income should the monthly payment not exceed?
- A.
  
  40%
- B.
  
  75%
- C.
  
  50%
- D.
  
  60%
2.

In case of legal action against you, do you have an attorney on retainer or $1,500 put aside to retain an attorney?
- A.
  
  Yes
- B.
  
  No
3.

How much of your income should be set aside in case of an emergency or for large future purchases?
- A.
  
  5%
- B.
  
  10%
- C.
  
  15%
- D.
  
  20%
4.

What is your current credit score?
- A.
  
  760 or higher
- B.
  
  660 to 759
- C.
  
  620 to 659
- D.
  
  619 or lower
- E.
  
  Don't know
5.

If you do not pay your credit card minimum balance every month, what happens?
- A.
  
  A $35 charge is incurred
- B.
  
  The interest rate increases to above 25%
- C.
  
  Interest is accrued daily
- D.
  
  The line of credit is suspended
- E.
  
  All of these
- F.
  
  None of these
6.

You are not eligible for a new line of credit for at least 7 years after filing a bankruptcy.
- A.
  
  True
- B.
  
  False
7.

Which amounts can you begin investing with? (Check all that apply)
- A.
  
  $10
- B.
  
  $100
- C.
  
  $500
- D.
  
  $1,000
- E.
  
  $5,000
8.

For the past 7 years, have you kept all the records (including receipts) required in case you are audited by the IRS for your taxes?
- A.
  
  Yes
- B.
  
  No
- C.
  
  Don't know