Sample Test Questions
1. The average Social Security payment a person currently receives per
month is ____________.
a. over $2,000
b. less than $1,000
c. more than the average pay the person used to receive per month
d. more than enough to cover a person's monthly bills
2. Approximately how long will it take to pay off $1,000 in credit card debt
if your interest rate is 18% and you only make the "minimum payment" each month?
a. 30 years c. 20 years
b. 8 years d. 10 years
3.The money you make at your job day after day, week after week, is
a. unearned income c. disposable income
b. earned income d. limited income
4. What percentage of bankruptcies are filed as a result of medical bills?
a. 40% c. 35%
b. 20% d. 9%
5. Which item(s) below would depreciate if you owned it (them)?
a. a car c. a bike
b. a television d. all of the above
6. If you borrow $20,000 for five years at 12% interest to purchase a car,
how much will you actually pay for that car over the 5-year period?
a. $20,400 c. $31,200
b. $26,700 d. $40,750
7. What percentage of millionaires choose to buy used cars rather than
a. 20% c. 23%
b. 10% d. 40%
8. If you think someone is trying to scam you on the internet, you should
contact the ____________.
a. FDA c. FTC
b. DEA d. IOC
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