Take Our Personal Finance Quiz!

Many people have taken the time to reflect on their finances during lockdown. If you are one of those people we have the perfect personal finance quiz for you to take. Not only will our quiz help understand a little more about your finances but it will also give you something to keep entertained.

Throughout this quiz, there are questions with both single and multiple answers. To check your score please find the answers at the bottom of the page.

Q1: A credit report is a document that describes your…

a) Valuable personal information

b) Creditworthiness

c) Voting records

Q2: Which of the following will help your credit score?

a) Got on the electro roll

b) Pay your bills on time

c) Check for mistakes on your file

Q3: Which of the following will damage your credit score?

a) Missing payments

b) Paying bills on time

c) Defaulting on accounts

Q4: How many months of expenses do experts think you should have in your emergency fund?

a) 9-12 months

b) 3-6 months

c) 1-2 months

Q5: What is the ‘perfect’ credit score?

a) 300

b) 670

c) 850

Q6: What should you look for in your credit report?

a) Incorrect information

b) Patterns and trends

c) How much money you have

Q7: Is the statement ‘everyone has a credit report’ true?

a) Yes

b) No

Q8: What is a secured loan also known as?

a) Homeowner Loan

b) A no collateral loan

c) A student loan

Q9: What is APR?

a) The rate used to calculate what you owe

b) The rate showing which loan is the best option for you

c) The rate used to help you understand the cost of borrowing

Q10: Is the phrase ‘you need money to make money’ true or false?

a) True

b) False

Thanks for taking the time to complete our quiz, no matter what your score was, we hope this gives you a little insight into the world of personal loans.

Simple Personal Loans can offer you a personal loan whether you have good or bad credit, our lenders rates start from 4.9%.

Q1: A Q2: All of the answers Q3: A & C Q4:b Q5: C Q6: A Q7: B Q8: A Q9: C Q10: B