Orange on Green: Take the Test PDF Print E-mail
Written by Tom and Brad Cunningham   
Wednesday, 16 June 2010 06:28

Orange on Green: Take the Test
Take five and answer 10. See how you rank at identifying America's current financial situation, and then relate it to your own life. Read on to take the quiz!

Americans today face more pressure than ever to get it right financially. The 10 questions below highlight some of the areas that are affecting our communities and households. The answers to the 10 questions are listed below, but don't skip ahead! See how you do with this quick quiz.


Question 1: A Harvard University report reveals that 62 percent of all personal bankruptcies in the United States in 2007 were due to an inability to pay:

A. Credit card debt

B. Medical expenses

C. Mortgage

Source: American Journal of Medicine, June 4, 2009


Question 2: What percentage of Americans spend more than they earn?

A. 25 percent

B. 33 percent

C. 44 percent

Source: Federal Reserve Board, Survey of Consumer Finances, 2004


Question 3: The State of Ohio ranks ________ in the country for non-business bankruptcy filings as of 2008:

A. 46th

B. 6th

C. 20th

Source: American Bankruptcy Institute – 2007-2008 Annual Non-business Filings by State


Question 4: With 14.7 percent as of Feb, 2010, which country leads the charge for highest Household Net Savings Rate among all reporting countries?

A. Austria

B. Japan

C. Korea


Bonus Question: How much does the average American save? __________ percent. Source: OECD Fact Book 2010


Question 5:During the 20 year period from 1987 to 2006, the S&P 500 provided for an Annualized Return of 11.8 percent. What did the average stock mutual fund investor earn during this same time period?

A. 13.1 percent

B. -0.5 percent

C. 4.3 percent

Source: DALBAR, Inc. 2007 – Quantitative Analysis of Investor Behavior


Question 6:For the 12 months ending with April 2009, for every 7.1 marriages in the US, there were how many divorces?

A. 3.4

B. 2.1

C. 5.6

Source: CDC Provisional Vital Statistics, April 2009


Question 7:Disability causes nearly ______ percent of all mortgage foreclosures, compared to two percent caused by death.

A. 90 percent

B. 26 percent

C. 50 percent

Source: Health Affairs, The Policy Journal of the Health Sphere, Feb. 2, 2005


Question 8: The average outstanding credit card debt per household — regardless of whether or not they have a credit card — at the end of 2008 was:

A. $3,756

B. $8,329

C. $10,098

Source: Nielson Report, April 2009


Question 9:What percentage of adults living in the U.S. and in need of long-term care depend on family and friends as their only source of help?

A. 35 percent

B. 48 percent

C. 78 percent

Source: Thompson, L. Long Term Care: Support for family caregivers [Issue Brief], Washington, DC: Georgetown University, 2004. Long Term Care Financing Project.


Question 10:What percentage of American employees live from paycheck to paycheck, without enough savings to cushion a financial blow?

A. 46 percent

B. 71 percent

C. 89 percent

Source: American Payroll Association, “Getting Paid in America” Survey, 2008


Answers are as follows:

1 B, 2 C, 3 B, 4 A, 5 C, 6 A, 7 C, 8 B, 9 C, 10 B, Bonus Question is four percent.


How did you fair?


How do you fair personally on each of the issues? If there are areas mentioned above that concern you personally and you want to avoid being another statistic, get help from an expert that will teach you to become financially literate. Knowledge is power. Gaining knowledge will give you the power to making educated decisions.

Tom And Brad Cunningham -

Tom and Brad Cunningham are Cincy Chic's financial columnists, and they are the co-founders of Orangefinancial. If you want to share your comments or inquire for more information, e-mail them at This e-mail address is being protected from spambots. You need JavaScript enabled to view it and This e-mail address is being protected from spambots. You need JavaScript enabled to view it .


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