Financial Literacy Quiz Questions And Answers

9 Questions | By Kqed | Last updated: Jun 13, 2018

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Do you know your consumer rights? Try this quiz and find out!

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Questions and Answers

1.

Because I need my social security number for so many things, it’s a good idea to keep my social security card in my wallet so I can show it whenever someone asks for it.

Discuss
- A.
  
  True
- B.
  
  False
2.

I received an e-mail from my bank telling me to click on a link and verify my account information. If I don’t do this, I could have problems with my account.

Discuss
- A.
  
  True
- B.
  
  False
3.

I just got my first credit card, and suddenly I’m getting all kinds of credit card offers in the mail. If I want, I can contact someone to stop sending me this junk mail.
- A.
  
  True
- B.
  
  False
4.

I just bought my first car and got a loan to pay for it. Some months, though, I have trouble making my payments. If I default on my loan, only this lender will know about it, and some day, if I need another loan, I’ll still be able to get it from another lender.
- A.
  
  True
- B.
  
  False
5.

I want to know what my credit report says about my credit history, but the information is secret and I can't get a copy because only banks can see my credit report.
- A.
  
  True
- B.
  
  False
6.

I received a lot of money for my graduation, and I want to go to the mall to buy a new laptop. Even though I have the cash, it might still be better to use my credit card to pay for the laptop.

Discuss
- A.
  
  True
- B.
  
  False
7.

If I’m late in paying my credit card bill, I may have to pay a late fee in addition to interest charges, and my interest rate may also increase.
- A.
  
  True
- B.
  
  False
8.

I received an e-mail from a stranger in a foreign country telling me that he has inherited about $15 million from his uncle, but cannot get the money out because of complicated rules. He promises that if I send him $500 to help him, I’ll be guaranteed a percentage of the inheritance. Since the e-mail sender knew my name and e-mail address, I can trust him.

Discuss
- A.
  
  True
- B.
  
  False
9.

I received a pre-approved credit offer, but I already have a credit card and don’t want another one. I should shred the offer before I throw it out, because it might contain personal information that could be used for identity theft.
- A.
  
  True
- B.
  
  False

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