Great, short, informative article. I can’t tell you how many times I run into #3 and have to explain the difference between a container and what one puts into a container. And, given where I live and work, how many people have *way* too much tied up in company stock (#5), and often it’s in the form of highly leveraged positions (ie. options) which multiply the volatility and risk.  

<http://www.forbes.com/sites/financialfinesse/2013/04/04/7-questions-to-test-your-financial-literacy/>

Read the article, but in summary here:

1) Does carrying a balance on a credit card help your credit (rating)?

2) Should you pay down your largest debts first?

3) Is an IRA a good investment?

4) Should you invest in top-performing mutual funds?

5) Is your company stock a safe investment?

6) Will Social Security be there when you retire?

7) Does a will protect your estate from probate?

The article answers all of these questions well.  I’d add a few more details such as how Social Security computes initial benefits (based on wage growth, not inflation), and especially for #7, it’s not just the will, but when folks have done some estate planning, there may be trusts involved and perhaps a question #8 should be added: Does a trust protect my estate from estate taxes?