Are you a financial nerd? Take our money quiz

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Posted: Wednesday, April 10, 2013 12:00 am

Grab a pencil and see what you know — or don't — about some numbers that shape your life.

1. More than half of consumers think saving for retirement is more difficult than:

a. Training for a marathon

b. Learning a new language

c. Hitting a hole-in-one

d. Quitting smoking

2. What percentage of U.S. adults do not have a savings account?

a. 27 percent

b. 57 percent

c. 77 percent

3. What percentage of people 65 to 74 require personal assistance to manage some activities of daily living, such as using the telephone, shopping, meal preparation or managing money?

a. 35 percent

b. 45 percent

c. 55 percent

d. 65 percent

4. Fifteen years ago half of all non-retirees said they expected to retire before age 65. About what proportion of non-retirees has that expectation today?

a. One-third

b. One-quarter

5. Which of the following is the biggest contributing factor in the calculation of your FICO score, the measure of consumer creditworthiness?

a. Payment history; consistently make payments on time

b. Keeping low revolving balances low; never maxing out your card

c. Never using credit cards at all

d. Having multiple credit cards with high balances

6. A year's stay in a nursing home is less expensive than a year's tuition at Harvard University. True or false?

7. What is the average American's life expectancy?

8. Which age group expresses the greatest doubt that they will have enough to live on in retirement?

a. 35 to 44

b. 55 to 64

9. Households headed by adults 35 to 44 lost the most wealth in the last decade. By what percentage did this group's wealth decline from 2001 to 2010?

10. What percentage of people with a 401(k) retirement savings account that allows loans have borrowed from it?

11. Medicare covers approximately what percentage of the cost of health care services (not including long-term care) for beneficiaries 65 and older?

a. 40 percent

b. 50 percent

c. 60 percent

d. 70 percent

12. Social Security pays benefits that are on average equal to what percent of your pre-retirement earnings?

See the answers.

1. a

2. a

3. d

4. a

5. a

6. False: A year in a nursing home, $90,000, was nearly double Harvard's $53,000 tuition/room/board/fees for 2011-2012

7. 82 years

8. a

9. 56 percent

10. 21 percent

11. c

12. 40 percent

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