Most of us claim to be financially literate, but we may not know as much about finance as we think.
In a recent survey by Ipsos Reid for LowestRates.ca, 78 per cent of respondents claimed to be financially literate. Yet, when tested on their financial knowledge, nearly 60 per cent failed to answer majority of the questions correctly.
According to this test by Ipsos containing 15 true-or-false questions, it seems Canadians are especially unclear about financial terminology concerning mortgages, auto insurance, and tax-free savings accounts.
Take the test bellow to see how financially savvy you really are. Do you think you can get a perfect score?