Test Your Child’s Financial Intelligence With This Money Quiz
The Consumer Financial Protection Bureau (CFPB) has been a headache for large banks and lenders using their clients, but they have been an excellent advocate for consumers – and financial literacy.
The CFPB recently released a five-question quiz based on PISA, an international student assessment program. PISA tests 15-year-olds to find out how knowledgeable they are about various topics and includes a section on basic financial literacy , such as how to read an account, interpret a stock chart, and handle sensitive emails from banks and other financial institutions. …
It’s a good reminder that it’s never too early to tell every child about money , and that goes for consumer concerns too. Basic budgeting is one thing, but you also want to teach kids about how money actually works in the real world.
The CFPB provides five examples from the quiz here so you can test your kids to make sure they are on the right track. And while you are doing this, take the quiz yourself! The answers seem simple enough, but that’s the point: make sure you know how to deal with some of the simplest financial situations.
Each question includes additional resources that will also help you develop a specific skill. Apart from this, CFPB has several other resources and ideas for parents to teach their kids about money.
Financial literacy is just one of the contributions that CFPB offers to consumers. We’ve told you what they are doing and how to protect yourself if they leave. In addition to harassing lenders and organizations that use their clients (sometimes illegally), the CFPB also gives us an opportunity to start reporting this practice. They have an extensive database of consumer complaints they handle, and the companies targeted by each complaint can respond to them too. You can view the database here .
To take the money quiz, follow the link below.
Take Our Quiz To Find Out How Ready You Are To Make Financial Decisions | CFPB