Quiz: Dollars and Sense: Personal Finance Challenge
Dollars and Sense: Personal Finance Challenge
By: Staff
Image: refer to hsw

About This Quiz

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.

1.0 of 10
If you own a piece of property in the United States, which of these is filed on public record?

Yeah, as any cat burglar worth even a trace of salt can tell you, it's pretty easy to get a layout of your house.

2.0 of 10
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 is right. If a court finds that a private account in the Central American country is growing because of criminal activity, bank officials must release the customer's identity.

Credit card companies drool over revolvers, customers who pay their debt down incrementally, while their balances continue to grow. These are the people companies make the most money off of, thanks to interest rates.

4.0 of 10
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?

If you're all about gold digging but you're bound by a prenuptial agreement you couldn't get around, you might want to figure out a way to get divorced in the U.K.

5.0 of 10
According to Thomas J. Stanley, author of "The Millionaire Next Door," how do you calculate what your net worth should be?

Age times gross income divided by 10 is right. So a 30-year-old making $50,000 a year should have a net worth of $150,000.

6.0 of 10

Paying bills late affects your credit score the most. Late payments go on your credit history, which makes up 35 percent of your score. In second place is closing a credit account with a high limit and low balance, because your debt-to-credit ratio makes up 30 percent of your score.

Prime banks, which are described as banks open only to the ultra wealthy, don't actually exist. So there's the scam.

8.0 of 10
Countrywide Financial reported that 58 percent of the foreclosures its customers faced were because of:

Curtailment of income was the reason for 58 percent of Countrywide's foreclosures in 2007. Second was illness or medical reasons (13 percent), and third was divorce (8 percent).

You can choose to prepay tuition at an approved school at the current tuition rates. Quite a deal if you ask us.

Yep, tax up front means no tax later on. With taxes generally increasing as the years go by, paying taxes when you contribute generally means you'll pay a lower rate than you will in the future.

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