2024 Financial Literacy Quiz

April is Financial Literacy Month! To celebrate, Bank Five Nine is offering this quiz to test your financial prowess. Please answer the following questions and enter your contact information at the end for your chance to win a $100 Visa gift card!

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* 1. Many seniors fear losing their ____________, so it's important to discuss delicate matters such as their finances and care with patience and empathy.

Hint: The answer can found in the Financial Basics section of our website.

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* 2. When you receive money through direct deposit or send money through an online payment service, the funds are transferred through the _________ network.

Hint: The answer can be found in the Blog section of our website.

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* 3. Apple Pay and Google Pay are examples of this type of wallet.

Hint: The answer can be found in the Demo Videos section of our website.

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* 4. True or False. As long as the money from a 529 College Savings Plan is used to pay for college expenses, the withdrawals are free of federal taxes.

Hint: The answer can be found in the Blog section of our website.

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* 5. According to Bank Five Nine's "How long will my retirement savings last" calculator, how many total withdrawals would you be able to make using the following information:

Starting balance - $250,000.00
Withdrawal amount - $1,500
Rate of return - 2.75
Withdrawal period - Monthly

Hint: The answer can be found in the Calculators section of our website.

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* 6. An emergency fund is a great start, but ______________ is designed to help in times of great need.

Hint: The answer can be found in the Financial Basics section of our website.

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