U of M: Financial Literacy: Final Quiz

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Your Financial IQ

Financial Literacy

Test your financial IQ

Have you accurately tracked your expenditures for the past two weeks?

Yes, I am ready to build a spending plan.
Not yet, but I will start now and build a spending plan in the next two weeks.
Sort of, and I will use what I have to build a spending plan.
Are premium goods and services worth the risk of bad credit?

Yes, the memories of these nights on the town will keep me happy
when I can't qualify for a home mortgage.
Yes, I can’t cook so how else am I going to eat?
Yes, I need top quality because I am top quality.
No, I know plenty of ways to have fun, look great, and not
go broke.
I don’t need to worry about how much I borrow. If they offer it to me, I should take it all.

True
False
I’m broke, but I want to go out!

Use the credit card.
Time to look for emergency money.
The Twin Cities has many free events, places, and activities.
Find a way to sneak in the back door.
Am I required to purchase a computer for college?

Yes
No
It depends
Textbooks can be purchased anywhere, not just the University bookstore.

True
False