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Free money test · ages 6 and up

Borrowing Money Quiz for Kids

10 quick questions with instant answers and explanations. No sign-up needed.

Professor Ledger, the Wealthonauts banking and contracts robot

This borrowing money quiz for kids tests what you know about loans and promises to pay. You will answer ten questions about borrowers, interest, due dates, late fees and why keeping your word matters. Some questions have a little math, so grab a pencil if you like.

The quiz is free and anyone can take it. Ages 6 and up is just a starting point, so older kids and grown-ups are welcome too. Score 8 or more and you are a promise keeper! If not, Professor Ledger’s book The Promise to Pay explains it all, step by step.

What this test covers

  • Borrowers, lenders and debt
  • Why we write promises down
  • Interest and why borrowing costs extra
  • Due dates and payback plans
  • Late fees and collateral
  • Paid in full and building trust

How it works: answer all 10 questions, then press “Check my answers.” Get 8 or more right to pass. You’ll see why each answer is right, plus what to read or take next. No sign-up needed, and your answers are not saved.

Take the test

Ages 6 and up — and anyone who wants to learn this.

  1. Question 1 of 10Which of these is borrowing?
  2. Question 2 of 10Why did Professor Ledger want Pip's promise written down?
  3. Question 3 of 10What is a due date?
  4. Question 4 of 10Why do lenders usually charge interest?
  5. Question 5 of 10Pip borrowed 4 coins and owes 1 coin of interest. If there was also a 1-coin late fee, how much would Pip owe?
  6. Question 6 of 10Pip needed 4 more coins, could save 1 coin a week, and the race was in 5 days. Why did saving not work this time?
  7. Question 7 of 10A car loan usually uses the car as collateral. What does that mean?
  8. Question 8 of 10Many grown-up loans are paid in installments. What are installments?
  9. Question 9 of 10What does "paid in full" mean?
  10. Question 10 of 10About 4,000 years ago in Mesopotamia, what did people write their loans on?

Want to really understand it?

This test is based on The Promise to Pay, Book 02 of The Wealthonauts Adventures. Ages are a starting point, not a limit: plenty of teens and grown-ups are learning these ideas for the first time. Read the book online, take the matching Wealthonauts course, then come back and test yourself again.

More free tests: see all 12 money tests.