TEST YOURSELF
Test your financial smarts and take the entire quiz at: www.startribune .com/kaching.
1.Which of the following is true about sales tax?
(a) The national sales tax percentage rate is 6 percent.
(b) The federal government will deduct it from your paycheck.
(c) You don't have to pay the tax if your income is very low.
(d) It makes things more expensive for you to buy.
2.If your credit card is stolen and the thief runs up a total debt of $1,000, but you notify the issuer of the card as soon as you discover it's missing, what is the maximum amount that you can be forced to pay, according to federal law?
(a) $500
(b) $1000
(c) Nothing.
(d) $50
3.Many savings programs are protected by the federal government against loss. Which of the following is not?
(a) A U. S. savings bond.
(b) A certificate of deposit at the bank.
(c) A bond issued by one of the 50 states.
(d) A U. S. Treasury bond.
Answers: 1 (d), 2 (d), 3 (c)
