Here’s a quiz used as a group icebreaker exercise in some BBB Military Line classes (see the related story at www.AzStarBiz.com).

1. In 2005, Americans saved what percent of their incomes?
a. 18%
b. 9%
c. 3%
d. -0.5%

2. True or False: If you are deployed to a combat zone, the government offers you a special savings account that earns 10 percent interest.

3. What’s in a credit report?
a. A list of your bank accounts and other assets
b. A report on your medical history
c. A report about how much credit you have and how well you use it
d. Information on your race, religion and country of origin
e. All of the above

4. Is your credit score contained in your free credit report? Yes or No

5. Where can you get a copy of your credit report?
a. At your bank
b. From your credit card company
c. From the Better Business Bureau
d. From one of the three major credit bureaus
e. All of the above

6. True or False: When buying a car, if you have a trade-in, you should negotiate that separately after you and the dealer have settled on the price of your new car.

7. Which of the following is NOT a factor that might lower your auto insurance?
a. Auto safety features
b. Safe driving history
c. Taking a driving course
d. Signing a no-alcohol pledge
e. Students with good grades

8. The best way to pay for an item online is:
a. Money order
b. Personal check
c. Cash
d. Credit card or credit card-based online payment service such as PayPal

9. True or False: A safe way to pay for a big-ticket item at an online auction site is by using an escrow service.

10. True or False: Once your bank accepts a cashier’s check and cashes it for you, you can safely spend the money.

11. True or False: If you buy something or sign a contract, every state has a three-day cooling-off period that gives you three calendar days to change your mind.

12. Credit card fraud occurs most often when:
a. the credit card is lost or stolen
b. the credit card is still in the owner’s possession

13. Identity theft involves someone you know (friend, roommate, neighbor or relative):
a. Less than 5% of the time
b. 23% of the time
c. 50% of the time
d. 78% of the time

14. If you receive an unexpected e-mail from your bank or credit card company that asks you to verify your personal account information, you should:
a. Contact the bank separately to see if they sent the e-mail.
b. Go to the link provided and check it out.
c. Reply by return email asking for more information.
d. Provide the requested information right away.

15. True or False: “Advance-fee” credit cards are a good way for people with bad credit to obtain a credit card.

Answers:
1. d
2. True. It’s called the Savings Deposit Program or SDP.
3. c
4. No.
5. d or online at www.annualcreditreport.com
6. True.
7. d
8. d
9. False. Many of these online escrow services are scams set up by the sellers.
10. False. If the check turns out to be phony, your bank will deduct that amount from your account. You should wait until your bank knows the check has cleared the bank off which it was drawn.
11. False. This only applies to certain sales situations, usually when you sign a contract at home away from a company’s office or usual place of business.
12. b
13. c
14. a
15. False