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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: 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.”
3 / 10
By federal law, consumers are entitled to one free credit report once every __ months from each of the three credit bureaus.
4 / 10
Who is required to put the client’s interests ahead of their own at all times when providing personal finance advice?
Answer can be found on page 148.
5 / 10
True or false: Personal finance reporters are not personal finance advisors.
Read more on page 147.
6 / 10
What’s a good way to make more local connections?
Answer can be found on page 150.
7 / 10
What does AGI stand for?
Answer can be found on page 152.
Correct! This is used to determine your taxable income.
8 / 10
What is a good way to connect with your readers?
9 / 10
True or false: You can accurately predict the direction of interest rates and financial markets.
Read more on page 151.
10 / 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.
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