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Chapter 14: Personal Finance Quiz
Test your knowledge of the personal finance chapter material!
1 / 10
What do you call an expense that is deducted from the adjusted gross income, reducing your taxable income?
Answer can be found on page 153.
Correct!
2 / 10
True or false: For the majority of Americans, paycheck increases more than cover the increased costs brought on by the rate of inflation.
Read more on page 146.
3 / 10
What does AGI stand for?
Answer can be found on page 152.
Correct! This is used to determine your taxable income.
4 / 10
What’s a good way to make more local connections?
Answer can be found on page 150.
5 / 10
True or false: You can accurately predict the direction of interest rates and financial markets.
Read more on page 151.
6 / 10
True or false: Economists do not declare the market “recovered” until all consumers are past the financial crisis.
Even years after a financial crisis has transpired, many consumers feel that the recovery has passed them by when economists declare the market “recovered.” Read more on page 146.
Correct! Even years after a financial crisis has transpired, many consumers feel that the recovery has passed them by when economists declare the market “recovered.”
7 / 10
True or false: You can write about how tax changes will affect your readers.
It’s best to leave individual tax planning to tax advisers, but that doesn’t mean you can’t write stories about how tax changes will affect your readers. Read more on page 147.
Correct! It’s best to leave individual tax planning to tax advisers, but that doesn’t mean you can’t write stories about how tax changes will affect your readers.
8 / 10
What is the main reason someone might want to diversify their investments?
Correct! The rationale behind diversification is that different types of investments will pose a lower risk than any one investment that you hold, so if anything happens to one, your other investments are safe.
9 / 10
True or false: Personal finance reporters are not personal finance advisors.
Read more on page 147.
10 / 10
True or false: A stockbroker and an investment advisor are the same thing.
Stockbrokers and investment advisors are regulated by different standards. Read more on page 148.
Correct! Stockbrokers and investment advisors are regulated by different standards.
Your score is
The average score is 90%
Restart quiz
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