Start Here: Monetary Literacy Assessment

MoneyMan's Avatar
MoneyMan · in Assessment Center
11 comments 808 readers
MoneyMan's Avatar
#1
MONETARY LITERACY & MASTERY FOUNDATION
ASSESSMENT 01 · KNOWLEDGE BASELINE

Monetary Literacy Assessment

Establish your monetary knowledge baseline before beginning your learning journey through the Monetary Literacy & Mastery Foundation.

10 QUESTIONS 5 MINUTES BEGINNER
ASSESSMENT 01 BASELINE
ACADEMY ASSESSMENT MONETARY LITERACY
ASSESSMENT GUIDE Assessment 01
PURPOSE KNOWLEDGE BASELINE
01
OVERVIEW Why Take It?
02
PREPARE Before You Begin
03
BEGIN Take the Assessment
BEFORE THE ACADEMY

Discover What You Already Know

Every day we earn money, spend it, save it, borrow it, and invest it. Yet very few people are ever taught what money actually is or how the monetary system works.

This short assessment is designed to establish your starting point before you begin the Foundation curriculum. It is not intended to determine whether you pass or fail.

Instead, it gives you a record of what you understand today so that you can compare it with what you understand after completing the Academy.

THE QUESTION How much do you really know about the monetary system you use every day?
01
ASSESSMENT SNAPSHOT

What to Expect

Assessment 1 is a short introductory quiz covering several of the monetary concepts explored throughout the Academy.

10
Questions

A short knowledge baseline

About 5 Minutes

Designed to be completed quickly

Beginner

No prior study is required

Instant Results

Review what you got right and wrong

02
WHAT YOU'LL ENCOUNTER

Topics Covered

The questions introduce several ideas that will appear throughout your studies.

01
Money

Value and monetary functions

02
Currency

The monetary instruments we use

03
Banking

Deposits and money creation

04
Inflation

Currency and purchasing power

05
Central Banking

Monetary institutions and systems

06
The Constitution

Historical monetary language

?
BEFORE YOU BEGIN

Answer using only what you currently know.

Don't search online or look up the answers. The purpose is to discover your starting point, not to achieve a perfect score.

REMEMBER A low score does not mean you failed. A high score does not mean there is nothing left to learn. This assessment simply gives you a baseline against which future understanding can be measured.
READY TO BEGIN?

Take the Monetary Literacy Assessment

Complete all ten questions and submit your answers to receive your score. You'll be able to see which questions you answered correctly, which ones you missed, and review the answers afterward.

Begin the Assessment →

DavidB's Avatar
#2

Well lets see how I do..

  • 1) What is the Dollar a measure of?

b) Value

  • 2) Which of these are different from the other?

c) Monopoly Money

  • 3) The current Dollar gets its value from which of the following?

a) Faith and Credit of the United States

  • 4) According to the Constitution: “No state shall make anything but _______ a tender in payment of debts.”

c) Gold and Silver Coins

  • 5) Who creates new Dollars?

b) United States Treasury

  • 6) The difference between money and currency is?

c) Nothing

  • 7) What happens when you deposit your paycheck into the bank?

c) It gets loaned out to other customers.

  • 8) Inflation is caused by what?

a) Rising Prices

  • 9) Do countries today use money?

a) Yes

  • 10) Central Banks are part of what economic system or systems?

a) Capitalism

MoneyMan's Avatar
#3

On May 25, 2026, DavidB said:

Well lets see how I do..

  • 1) What is the Dollar a measure of?

b) Value

  • 2) Which of these are different from the other?

c) Monopoly Money

  • 3) The current Dollar gets its value from which of the following?

a) Faith and Credit of the United States

  • 4) According to the Constitution: “No state shall make anything but _______ a tender in payment of debts.”

c) Gold and Silver Coins

  • 5) Who creates new Dollars?

b) United States Treasury

  • 6) The difference between money and currency is?

c) Nothing

  • 7) What happens when you deposit your paycheck into the bank?

c) It gets loaned out to other customers.

  • 8) Inflation is caused by what?

a) Rising Prices

  • 9) Do countries today use money?

a) Yes

  • 10) Central Banks are part of what economic system or systems?

a) Capitalism

1) Incorrect

2) Incorrect

3) Correct

4) Correct

5) Incorrect

6) Incorrect

7) Incorrect

8) Incorrect

9) Incorrect

10) Incorrect

I'll message you the correct answers so new people will get a fair chance. :)

DavidB's Avatar
#4

Dang I really thought I would get more than that. Thanks for the pm but could you point me to where to start?

Last edited by DavidB

rockfleece's Avatar
#5

@MoneyMan you should probably not post the answers he got correct or people will see what the correct answers are?

MoneyMan's Avatar
#6

On Jun 9, 2026, rockfleece said:

@MoneyMan you should probably not post the answers he got correct or people will see what the correct answers are?

Haha yeah, I wasn't thinking. 😅 From now on I'll PM the correct ones and not just incorrect.

DavidB's Avatar
#7

@MoneyMan are there going to be more assessments coming?

MoneyMan's Avatar
#8

On Jul 10, 2026, DavidB said:

@MoneyMan are there going to be more assessments coming?

That is the plan but to be honest, I'm not even sure what I could do for a more advanced assessment.

MoneyMan's Avatar
#9

I've redone the assessment entirely. You now will be redirected to it and can select answers and automatically see which ones are right or wrong after you're done!

DavidB's Avatar
#10

On Aug 18, 2026, MoneyMan said:

I've redone the assessment entirely. You now will be redirected to it and can select answers and automatically see which ones are right or wrong after you're done!

This is so much better! I love that it has a progress bar too.

Cedric's Avatar
#11

That is amazing, well done.

👍 1
rockfleece's Avatar
#12

On Jun 9, 2026, MoneyMan said:

Haha yeah, I wasn't thinking. 😅 From now on I'll PM the correct ones and not just incorrect.

I see you no longer have to do this, looks great! I got two wrong. Not bad!

Theme: Emerald Ledger