The IM$avvy Financial Literacy Quiz is designed as a simple way for you to get an idea about how much you know about personal financial matters, and whether you have taken appropriate actions over your personal finances.
The quiz has 15 questions and comes with multiple-choice answers.
To get the most benefit out of the quiz, the questions should be answered as accurately as possible, eg if the question asks if you have any savings every month from your monthly salary, select the answer option that is closest to your real life situation. Don’t select the answer which you think we are looking for!
Some questions may have more than one correct answer and it is possible for certain answer options to score higher points than other answer options. (Eg if the question is how much emergency cash funds a person should have, a person who has emergency funds equal to six months’ salary would score more points than a person who has funds equal to one month’s salary, although both answers would be marked correct).
Registered members’ quiz scores are also grouped into four categories called the IM$avvy financial literacy groups: Guru; Cool Dude; Average Joe; and "Boh-chup". The category groupings were based on actual scores of a test group of 100 persons, and are meant to give members a sense of the relative standard of their quiz scores.
If your category is...
Guru: You know what to do, and you do it.
Cool Dude: You are better than average, but you have some way to go before you reach the top category!
Average Joe: You have some knowledge, and you might take action on some financial matters. But you can do more to improve your situation.
"Boh-chup": Hmmm, perhaps you should start taking an interest in personal financial matters!
