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What’s Your Financial IQ?

When it comes to managing your money, knowledge really is power. Take our quiz to see how your financial smarts measure up—then click through to see what Farnoosh Torabi, Chase Slate financial education partner, and host of the award-winning podcast, So Money, has to say about securing your financial future.
1 of 12

What’s the minimum amount of money you should have saved for emergencies?

One month’s living expenses
Three months’ living expenses
Six months’ living expenses
2 of 12

What kind of debt should you pay off first?

Car loan
Credit card
Whatever has the highest interest rate
3 of 12

When should you begin paying off your student loans?

1 years after college
As soon as possible
5 years after college
4 of 12

How much of your income should you be saving for retirement?

2 percent
10 percent
5 percent
5 of 12

What two factors listed here are among the five that go into calculating your credit score?

Payment history, amount of debt
Portfolio diversity, number of loan applications
Savings account balance, income tax owed
6 of 12

If you’re given a $100 loan with a 2 percent interest rate, how much will you owe in 1 year? 

$102
$112
$120
7 of 12

Which of these is NOT a way to build credit history?

Taking out a loan (either in your name or as a cosigner)
Purchasing a government savings bond
Signing up for a credit card
8 of 12

If your employer will match your contribution, which is the best retirement savings option?

401(k)
Roth IRA
HSA
9 of 12

What is the primary difference between a savings and a checking account?

Money in savings is just for emergencies; money in checking is for everyday expenditures
Money in checking earns interest; money in savings is there when I need it quickly
Money in savings earns interest; money in checking is easily accessed
10 of 12

What percentage of your take-home pay should go towards housing each month?

Around 50 percent
Around 30 percent
Around 60 percent
11 of 12

Which of these activities will negatively impact your credit score?

Applying for a loan
Withdrawing money from a 401(k) before retirement
Using a high percentage of the credit available to you
12 of 12

How much does it cost to check your credit score?

Nothing!
around $9.99 per report
I bet over $19.99 per month
YOUR SCORE
25%
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