HOW STUFF WORKS
QUIZZES

FOLLOW US
Dollars and Sense: Personal Finance Challenge
by Staff
Do you think you know enough about money and doing more than just keeping your head above water? We dare you to take this quiz and meet your ultimate personal finance smack down.

If you own a piece of property in the United States, which of these is filed on public record?

  • your mother's maiden name
  • your median credit score on the day you purchased your home
  • the floor plans of your house

Banking secrecy laws in some countries include prison sentences for banking officials who reveal their account holders' information -- even to the government. But in one of the countries below, officials won't end up in the slammer for passing along customer data. Which is it?

  • Belize
  • Cayman Islands
  • Switzerland

In the credit card industry, what is a revolver?

  • a person who uses different identities to apply for the same credit card
  • a person who pays off his or her credit card balance each month
  • a person who makes payments on his or her credit card balance incrementally

Prenuptial agreements created in one country are often recognized in other countries, under the Hague Convention on the Law Applicable to Matrimonial Regimes. Which of these countries does not recognize prenuptial agreements in any form?

  • United Kingdom
  • Israel
  • Peru

According to Thomas J. Stanley, author of "The Millionaire Next Door," how do you calculate what your net worth should be?

  • gross annual income multiplied by pi
  • age times gross income, divided by 10
  • Not calculating it at all. We're all going to die sometime.

Which of these can potentially damage your credit score the most?

  • making late payments
  • closing a credit account with a low balance and high limit
  • making only the minimum monthly payment

What is it about prime bank scams that make them scams?

  • Prime bank officials in certain countries are known for being easily bribed to lose wire transfers.
  • Prime banks charge much higher transfer fees than other banks.
  • Prime banks don't exist.

Countrywide Financial reported that 58 percent of the foreclosures its customers faced were because of:

  • illness
  • divorce
  • curtailment of income

There are a ton of benefits to opening a 529 college savings account. One of them is:

  • Prepayment plans allow you to pay future tuition at present rates.
  • Taxes paid on interest accrued within the account are a fraction of normal income tax rates.
  • After the student who the account is set up for graduates, he or she gets a gift certificate to any participating TGI Friday's.

What's the big leg up that Roth IRA retirement accounts offer people over 401(k)s?

  • Roth IRAs usually have employer contribution matching programs.
  • Roth IRAs require you to pay taxes on contributions up front, which could mean a lower rate.
  • Roth IRAs are tax free.