Questionnaire Public Report03/06/2017 10:30:19 AM
Cohort:National Longitudinal Survey of Youth 1979
Round:NLSY79 Round 27
Instrument :R27 Youth Main Field
  1. Financial Literacy

FIN_LIT_LINT []Section: Financial Literacy

[last round R completed]>=25

If Answer = 1 Then Go To

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FIN_LIT_1 []Section: Financial Literacy

Have you set aside emergency or rainy day funds that would cover your expenses for 3 months, in case of sickness, job loss, economic downturn, or other emergencies?

 1   YES
 0   NO

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FIN_LIT_2 []Section: Financial Literacy

How strongly do you agree or disagree with the following statements? Please give your answer on a scale of 1 to 7, where 1 means 'strongly disagree' 7 means 'strongly agree,' and 4 means 'neither agree nor disagree.'

 - I am good at dealing with day-to-day financial matters, such as checking accounts, credit and debit cards, and tracking expenses
 - I regularly keep up with economic and financial news
 1   1 (disagree strongly)
 2   2
 3   3
 4   4
 5   5
 6   6
 7   7 (agree strongly)

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FIN_LIT_3 []Section: Financial Literacy

On a scale from 1 to 7, where 1 means very low and 7 means very high, how would you assess your overall financial knowledge?

 1   1
 2   2
 3   3
 4   4
 5   5
 6   6
 7   7

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FIN_LIT_4 []Section: Financial Literacy

Do you think that the following statement is true or false? Buying a single company stock usually provides a safer return than a stock mutual fund.

 1   True
 0   False

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FIN_LIT_5 []Section: Financial Literacy

Suppose you had $100 in a savings account and the interest rate was 2 percent per year. After 5 years, how much do you think you would have in the account if you left the money to grow: more than $102, exactly $102, or less than $102?

 1   More than $102
 2   Exactly $102
 3   Less than $102

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FIN_LIT_6 []Section: Financial Literacy

Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. After 1 year, would you be able to buy more than, exactly the same as, or less than today with the money in this account?

 1   More than today
 2   Exactly the same as today
 3   Less than today

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FIN_LIT_7 []Section: Financial Literacy

If interest rates rise, what will typically happen to bond prices?

 1   They will rise
 2   They will fall
 3   They will stay the same
 4   There is no relationship between bond prices and the interest rate

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FIN_LIT_8 []Section: Financial Literacy

Do you think that the following statement is true or false? A 15-year mortgage typically requires higher monthly payments than a 30-year mortgage, but the total interest paid over the life of the loan will be less.

 1   True
 0   False

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