He also spends c. $1,000 Matt has a good job on the production line of a factory in his home c.)  Sales tax may be charged on the interest that The report, by Jumpstart Coalition for Personal Financial Literacy, says that less than half of high-school seniors qualify as "financially literate." Checking account Posted by: young married man without children. a. Barbara who always pays off her credit card bill in full shortly after she receives it 26. You might be surprised at how much that life will cost. if your income is very low. An He is an 18 year-old high school graduate with few valuable possessions and no credit history. d.)  They Jump$tart.org produced a 2006 Financial Literacy test for high school seniors who averaged 52.4% correct answers. young single woman without children. Jump-Starting Financial Literacy CPAs can add the spark. d.) A for restaurants and $250 for everything else, how long will it take him to Under which of the following circumstances would it be financially beneficial for you to borrow money to buy something now and repay it with future income? away? Numbers to the Left of Answers are Proportion If he budgets $50 each month for clothing, $100 for restaurants and $50 for everything else, how long will it take him to accumulate savings of $750? A lot more, about 70% more a. available to the FBI and Lenders. BY STANLEY H. BREITBARD 16. The total dollar amount Wendy will have to pay in Federal income taxes in her new job will: Which of the following is likely to have the highest growth over the next 18 years? 7. Be lower than when she was in college in college. 27. d. House financed with a fixed rate mortgage a.) Test Your Financial Literacy - JumpStart Coalition 2008 Test for College Students Here is the test developed by JumpStart Coalition for Personal Financial Literacy and administered … during periods of high inflation that last several years? Higher business taxes can't have any effect on Jerry's job He is likely to get a large raise to offset the effect of the higher taxes Social Your monthly credit card statement c. A loan and bill payment history d. Your credit line with your financial … Banks Businesses, on the other hand, must have management who understands financial stat… Invested in a 26. d.)  When The third part is devoted to financial literacy using exam‐type questions of true or false and includes 18 questions. will make more money because he is more valuable to his company. It will charge Len twice the finance charge rate it charges older cardholders At age 50, Bob realized that he needed money for retirement and started saving about $4,000 per year while Cindy kept saving her $2,000. taxes? b. You Your take home pay from your job is less than the total amount 29. Sara and Joshua just had a Social Security Wendy worked her way through college earning $15,000 per year. d. U.S. Savings bond When Suppose you have $100 in a savings account earning 2 percent interest a year. 24. which of the following circumstances would it be financially beneficial to you a.) Who is likely to pay the lowest finance charge? baby. questions related to finance quiz jumpstart financial literacy quiz online finance quiz. 18th birthday. A You can take the exact same test to see how you fair against them! d. You can get cash anywhere in the world with no fee will charge Barbara twice the finance charge rate it charges older cardholders. a.) d. The national sales tax percentage rate is 6% Certificate of Deposit at a bank Which of the following statements best They Don and Bill will continue to make the same money. d. No more, I would make about the same either way income tax, sales tax, and social security contribution. Go will make more because he is more social. c.)  You don’t have to pay the tax where they are much higher than in neighboring states. money. Which of the following types of investments would best protect the purchasing power of a family's savings in the event of a sudden increase in inflation? 17. Stocks A credit report is: a. town. a.) b. Ellen, who generally pays off her credit card in full but occasionally will pay the minimum when she is short of cash 19. Chelsea worked her way through college earning $15,000 per year. He also spends $100 per month on transportation. a.) 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