SMART Financial Literacy Survey Feb. 2011

ID Number

Many young people receive health insurance benefits through their parents. Which of the following statements is true about health insurance coverage?
Rebecca has saved $12,000 for her college expenses by working part-time. Her plan is to start college next year and she needs all of the money she saved. Which of the following is the safest place for her college money?
Which of the following statements best describes your right to check your credit history for accuracy?
Under which of the following circumstances would it be financially beneficial to you to borrow money to buy something now and repay it with future income?
Many people put aside money to take care of unexpected expenses. If Juan and Elva have money put aside for emergencies, in which of the following forms would it be of LEAST benefit to them if they needed it right away?
If you are behind on your debt payments and go to a responsible credit counseling service such as the Consumer Credit Counseling Services, what help can they give you?
Which of the following best describes the primary sources of income for most people age 20-35?
Chelsea worked her way through college earning $15,000 per year. After graduation, her first job pays $30,000. The total dollar amount Chelsea will have to pay in Federal Income taxes in her new job will:
Sara and Joshua just had a baby. They received money as baby gifts and want to put it away for the baby’s education. Which of the following tends to have the highest growth over periods of time as long as 18 years?
David just found a job with a take-home pay of $2,000 per month. He must pay $900 for rent and $150 for groceries each month. He also spends $250 per month on transportation. If he budgets $100 each month for clothing, $200 for restaurants and $250 for everything else, how long will it take him to accumulate savings of $600.
Rob and Mary are the same age. At age 25 Mary began saving $2,000 a year while Rob saved nothing. At age 50, Rob realized that he needed money for retirement and started saving $4,000 per year while Mary kept saving her $2,000. Now they are both 75 years old. Who has the most money in his or her retirement account?
If your credit card is stolen and the thief runs up a total debt of $1,000, but you notify the issuer of the card as soon as you discover it is missing, what is the maximum amount that you can be forced to pay according to Federal law?
If you went to college and earned a four-year degree, how much more money could you expect to earn than if you only had a high school diploma?
If each of the following persons had the same amount of take home pay, who would need the greatest amount of life insurance?
Which of the following credit card users is likely to pay the greatest dollar amount in finance charges per year, if they all charge the same amount per year on their cards?
Which of the following statements is NOT correct about most ATM (Automated Teller Machine) cards?
Ann started a t-shirt business and her sales are growing at 20% per month. She pays for all her t-shirts when she places the order and gives her customers 30 days to pay for their shirts. All her other expenses, such as rent, phone and internet service are due at the beginning of each month. She has priced the shirts to make a 5% profit on each shirt. What do you see as a possible problem with Ann’s business?
When did you get your first credit card?
Do you have a checking account?
Who prepares your income taxes?
What is the highest level of education you expect to achieve?
What is the highest level of schooling your father or mother completed?
When you finish your undergraduate education, how much do you expect to owe in student loans?
When you start to work full-time, after you finish your education, how much do you expect to make per year before deductions for taxes and other items?
Which of the following classes did you have in high school (CHECK ALL THAT APPLY)
Which of the following classes have you had in college? (CHECK ALL THAT APPLY)
What is your class standing?
Please detail any additional information that we need to be aware of.