80 Personal Finance Basics Trivia Questions with Answers
80 public questions with answers, drawn from the well. How many can you answer?
In personal finance, what report lists a person’s borrowing and repayment history?
Answer
Credit report
In U.S. retirement planning, what does the abbreviation IRA stand for?
Answer
Individual retirement account
In personal finance, what is the term for the percentage of income required for housing costs and debt payments?
Answer
Debt-to-income ratio
In personal finance, what is the measure of a loan’s total yearly cost expressed as a percentage, including many fees?
Answer
Annual percentage rate
In investing, what type of risk does diversification mainly reduce?
Answer
Unsystematic risk
In personal finance, what does inflation reduce when prices rise broadly?
Answer
Purchasing power
In personal finance, what does the Rule of 72 estimate?
Answer
Years to double money
In personal finance, what does APR stand for on a loan or credit card?
Answer
Annual percentage rate