Are You Ready to Compete?

READY TO COMPETE? Watching the Olympics sparks the competitive spirit in many people. If you’re looking for a way to compete, try taking this financial literacy quiz. If you like, you can create your own event by having family and friends test their knowledge, too.

1.      Which of the following does Experian say is the most important to your credit score?

a.      Payment history

b.      Amount owed

c.      Credit history length

d.      New credit applications

2.      Which has the most risk, according to Investopedia?

a.      Owning a diversified portfolio of small, large and mid-sized company stocks

b.      Owning the stock of a large company

c.      Owning a portfolio of technology company stocks

d.      Owning a portfolio of small company stocks

3.      If you put $100 in an account that earned 5 percent interest each year, how much would the account be worth after 10 years?

a.      About $105

b.      About $150

c.      About $160

d.      About $180

4.      When shopping for chicken noodle soup, which of the following is the best value?

a.      The store’s brand

b.      The can with the highest discount

c.      The can with the lowest price per ounce

d.      The can with the lowest price in the size you need

You’ll find the answers below. When you have any financial or money questions, please get in touch.

Weekly Focus – Think About It

“An investment in knowledge pays the best interest.”

 —Benjamin Franklin, American statesman

(1)   A; (2) B; (3) C; (4) C