Financial Ed

How old do you need to be to have your own credit card account? (i.e. not just being an authorized user on a parent's account)

• 16

• 17

• 18

• 21

Which of these interest rates is the highest?

• The current Unsubsidized Federal Student Loan rate

• The current average Personal Loan rate

• The current average Car Loan rate on a new car

• The current average 30-year fixed Mortgage rate

About 1.7 MM recent high school graduates start college each year in the US. How many private scholarships (i.e. not counting government aid or scholarships directly granted by a college) are awarded each year?

• ~220,000

• ~550,000

• ~1MM

• ~1.7 MM

Tax systems are generally considered "regressive" if poorer people pay a higher percentage of their income in taxes than richer people do. According to the Inst on Taxation and Economic Policy, how many US states have a regressive tax system: meaning the bottom 40% of income earners pay a higher percent of their earnings in state & local income, property, sales and excise taxes than the richest 40% do.

• 10

• 20

• 30

• 40

What is a Ponzi scheme?

• A form of fraud where people are led to believe they're investing in a legitimate business, but instead earlier investors' returns are just paid with funds from new investors

• A business model that recruits new members by promising to pay them for enrolling others in the scheme

• A blackjack strategy used to determine whether the player or the dealer has an advantage on the next hand

• A distributed ledger with growing lists of records securely linked via cryptographic hashes