limit to how much
you can spend.
B. A credit card ex-
pense is a short-term
loan, and by signing
the receipt, you’re
agreeing to repay.
C. You’re charged in-
terest even if you pay
your bill in full and on
time each month.
deferred growth—
no annual taxes on
capital gains, interest
or dividends.
C. You get an im-
mediate tax break,
because your contri-
butions come from
your paycheck before
taxes are withheld.
D. All of the above.
25. Who can access
your credit report?
A. Employers consid-
ering you for a job
B. Lenders consider-
ing issuing you a loan
or credit card
C. Insurers issuing
you an auto policy
D. All of the above,
as well as govern-
ment agencies
28. The word “tax”
originates from:
A. The Latin taxo,
meaning “I estimate”
B. The Greek taxum,
meaning “to take”
29. Who wrote
“In this world
nothing can be
said to be certain,
except death
and taxes”?
A. William
Shakespeare
B. Benjamin
Franklin
C. Uncle Sam
26. What currency
is used by many
European nations?
A. Pound
B. Euro
C. Rupee
27. Which state-
ments about the
benefits of a 401(k)
are true?
A. You get “free”
money, since
your contributions
are usually matched
by your employer.
B. You get tax-
30. Which is better:
A. Getting $100,000 at once?
B. Getting a penny that’s doubled
every day for a 31-day month?
Sid Kirchheimer writes on consumer issues.
Answers: 1C, 2C,
3D, 4B, 5C, 6B, 7A,
8A, 9D, 10A, 11A, 12B,
13D, 14D, 15A, 16B,
17D, 18A, 19C, 20C,
21B, 22B, 23B, 24C,
25D, 26B, 27D,
28A, 29B, 30B. A
penny whose sum
is doubled daily for
31 days will yield
nearly $11 million.
Your Money ;
C. The Old English
taxus, meaning
“to feed the coffer”
D. “Taxi,” a vehicle
that takes you
places for a fee
What’s Your Score?
25-30 correct: Move over, Warren Buffett!
16-24: More like Jimmy Buffett
8-15: Still can afford a weekly lunch buffet
0-7: Time for Financial Literacy School
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