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Money Talks
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Financial Literacy Facts
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
What was the approximate number of credit card offers mailed within the U.S. in 2005?
6,000,000
6,000,000,000
600,000
600,000,000
2
What percentage of American adults do not own
any
credit cards?
29%
6%
54%
17%
3
About what percentage of Americans carry a credit card debt from month-to-month?
25%
10%
40%
75%
4
What is the average amount of
interest
paid on credit cards each year by an individual?
$4,000
$1,200
$2,600
$500
5
Approximately______ of all college students graduate with debt from student loans.
two-thirds
two-fifths
one-half
one-third
6
What % of adults admit that they could benefit from the financial advice of a professional?
60%
40%
20%
80%
7
Which movie best describes your financial habits?
Cheaper by the Dozen
Other People's Money
Wall Street
Gone in 60 Seconds
8
About _______ of workers have their paychecks directly deposited into their accounts.
60%
70%
40%
50%
9
Among credit card owners, the average balance is about _________________.
$12,500
$7,500
$3,500
$1,500
10
What percentage of adults have a budget and keep
close
track of their expenditures?
43%
61%
9%
22%
11
____ think it is OK to default on a mortgage if they can no longer afford the monthly payments.
25% of Americans
45% of Americans
5% of Americans
55% of Americans
12
How much money did credit card companies make just from
late fees
in 2005?
$1 million
$30 million
$800 million
$11 billion
13
Americans now owe more for student loans than the total amount owed on credit cards.
True
False
14
What percentage of adults do not have a budget?
More than 50%
less than 25%
More than 75%
less than 10%
15
What fraction of Americans have
NEVER
checked their credit report or credit score?
one-fourth
one-third
one-half
one-tenth
16
In the U.S., there is an average. of ____ credit cards for
EVERY
member of the population.
3
5
2
4
17
About ______ of adults do
NOT
have any regular savings (non-retirement).
1/5
4/5
2/5
3/5
18
What % would consult with their lender to discuss options if facing financial problems?
27%
79%
13%
53%
19
What percentage of American adults have more than 7 credit cards?
41%
77%
16%
7%
20
What fraction of U.S. adults do not pay
ALL
of their bills on time?
one-half
one-fourth
one-third
one-fifth
