Financial Literacy iPhone App with Quiz, Videos and more - FinLitTV

April 22, 2010 - PRLog -- FinLitTV iPhone App contains Q&A that offers a “flash” assessment of personal financial literacy at Beginner, Intermediate and Advanced levels and streaming video of Senators, Congressmen and Experts.

April 2010 Consumer Financial Literacy Survey by Harris Interactive states,
"É34%, or nearly 77 million people, gave themselves a grade of  C, D, or F on their knowledge of personal finance, suggesting there is still considerable room for improvement, especially among younger adults."

FinLitTV, the first app to offer a financial literacy assessment and streaming video will become essential as entitlement reform takes over from healthcare reform. Chair Ben Bernanke testified before Joint Economic Committee of Congress on 4/14/10.  He said, "We as a nation face the difficult task of fiscal responsibility."

There are several questions as below in the iPhone app and users can find answers and check the history on how they performed in the quiz.

1. One day, Stella has caused an accident, which type of automobile insurance would cover damage to her own car?
 
a) Term
b) Collision
c) Comprehensive
d) Liability

2. Jeremy is not sure which of these properties has the lowest property taxes. Can you identify?

a) Agricultural
b) Commercial
c) Barren land
d) Residential


3. Social Security and Medicare, both are called entitlement programs. As Baby Boomers retire, both programs will become unsustainable.
  Solutions being considered to deal with this are:

   a) Increase payroll taxes, or the amount that is paid with no "cap" on the amount of income earned. There is a  "cap" of $102,000/year for Social
      Security and President Obama want to tax earnings above $250,000 to pay for Social Security shortfall.
   b) People with high life-time incomes could receive no Social Security funds
   c) Private pensions for youth may be introduced
   d) All of the above items


Financial Literacy will become essential, especially for the millennial generation.

FinLitTV app is FREE.

FinanciaLiteracy.Com/Prosperity® is a registered trademark and FinLitTV ™ is a pending trademark with the United States Patent & Trademark Office and with Intellectual Capital India.