Test yourself: Personal Finance Quiz: 25 Questions Across Every Topic

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Reading is one thing; recalling it under pressure is another. This exam has 25 questions that cut across every part of Personal Finance, from the basics to the mechanisms that connect them.

Answers are hidden until you click, each with a one-line explanation, so you can check yourself and see exactly which topics to revisit. Take it once cold, read the explanations, then try again a week later; most people are surprised by how much the second pass improves.

A sample of the questions (25 on the full page)

■The $75,000 household nets $2,163.60 per biweekly paycheck in a state with no income tax on wages. With a flat 5% state tax on the same $67,900 the federal calculation starts from, what would net pay per paycheck be?

■A 16-year-old dependent earns $4,800 from a 2026 summer job and has $240.64 of federal income tax withheld. How much federal income tax does she owe for the year?

■In this volume’s financial order of operations, what comes immediately after the one-month starter emergency fund?

■At one bank, partner A holds $300,000 in a single-owner account, and A and B together hold $350,000 in a joint account. How much of the $650,000 is uninsured?

■A high-yield account pays 4.00% APY, the interest is taxed at 22%, and inflation runs at 3.4%. What is the real after-tax return?

■What must a credit report show before a first FICO score can be calculated?

■After a court judgment, how much of the household’s biweekly pay can be garnished under federal law? Disposable earnings are $2,884.62 − $234.92 − $213.02 = $2,436.68.

■A car lease quotes a money factor of 0.0025. Roughly what APR is that?

■After tax-free grants, a first-year student has $4,305 of expenses that qualify for the American Opportunity Tax Credit. How large is the credit?

■Under the Homeowners Protection Act, when must PMI be canceled automatically for a borrower who is current on payments?

■Why is a sole proprietor’s Solo 401(k) employer contribution 20% of net self-employment earnings (after half the SE tax) rather than 25%?

■What share of actively managed U.S. large-cap funds trailed their benchmark index over the 20 years to June 30, 2026, according to SPIVA?

■$10,000 of TIPS with a 2% coupon goes through a year of 3% inflation. How much is federally taxable that year?

■What separates an investment adviser’s fiduciary duty from a broker-dealer’s obligation under Regulation Best Interest?

■COBRA can cost up to 102% of the full premium. At 2025’s average single premium of $9,325 a year, about how much is that a month?

■For a taxpayer in the 22% bracket, what are a $1,000 tax credit and a $1,000 deduction each worth?

■A retiree starts with $1,000,000, withdraws $40,000 at the start of year one, and the portfolio then returns −18%. What is the year-end balance?

■Alex, whose PIA is $3,000, delayed claiming until 70 and has now died. Sam, past full retirement age, was receiving $1,500. What does Sam receive each month from now on?

■How is a retiree’s 2026 Medicare IRMAA surcharge set?

■A retiree plans to put $400,000 into income annuities. What does the volume suggest to limit the damage if an insurer fails?

■A parent bought stock for $50,000. It was worth $300,000 at the parent’s death, and the heir later sells it for $310,000. What is the heir’s taxable gain?

■Dana’s IRA names her brother as beneficiary, and her newer will leaves everything to her spouse. Who receives the IRA?

■In the account-compromise playbook, why is your email secured before most other accounts?

■What can the trusted contact person named on a brokerage account do?

■In Case Four, Riley files as a single taxpayer the year after Jordan’s death, with the same $40,000 IRA withdrawal. What happens to her federal tax?