Your Money, Your Future
Your Money, Your Future

Are you financially smarter than a 15-year-old? Take this quiz and find out

Key Points
  • More than 24,600 people have taken the 30-question financial literacy quiz from the National Financial Educators Council.
  • As of early April, only 49.7 percent of test-takers have received a passing score.
Jamie Grill | Blend Images | Getty Images

Do you have more financial smarts than the typical teenager? Don't be so sure.

Finding out is as simple as taking a basic 30-question financial literacy quiz designed by the National Financial Educators Council (NFEC) in honor of Financial Literacy Month in April. The test evaluates young adults' ability to earn, save and grow their finances.

Quiz-takers can see how their knowledge stacks up against the more than 24,600 people — including some 16,200 teens age 15 to 18 — who have taken the test since 2012.

If your score was higher than 61 percent, then you're financially smarter than the average high school student who took the test. At least 65 percent? You surpassed the average score of all test takers.

But you still failed.

The NFEC sets the bar for a passing grade at more 70 percent.

The council designed the test for older teens because they're entering a "very pivotal time" where such knowledge is needed, said Vince Shorb, chief executive of the NFEC.

"These kids who are 17-year-olds are able to make decisions on taking out a student loan without any credit or training or anything," he said. "They never talk about repayment. We have a huge problem with people unable to pay back their loans right now."

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The prevalence of failing scores among all age groups, however, is alarming for a test of financial literacy basics.

"Just looking what's going on out there with the financial health of Americans today, the test results might indicate why people aren't in the best financial shape," Shorb said.

Two of the most-often-missed questions include "How can I start setting personal goals now?" and "If I invest $100 per month starting at age 21, and that money earns a 7 percent annual return, how much will I have after 70 years?"