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Two Minute Tips
Chapter 14: Personal Finance Quiz
Test your knowledge of the personal finance chapter material!
1 / 10
What does Annual Percentage Rate (APR) consist of?
Answer can be found on page 152.
Correct! APR tells you the annual cost of a loan and is stated as a percentage.
2 / 10
What does AGI stand for?
Correct! This is used to determine your taxable income.
3 / 10
What is the main reason someone might want to diversify their investments?
Answer can be found on page 153.
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.
4 / 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.
5 / 10
True or false: Personal finance reporters are not personal finance advisors.
Read more on page 147.
Correct!
6 / 10
True or false: You can accurately predict the direction of interest rates and financial markets.
Read more on page 151.
7 / 10
What’s a good way to make more local connections?
Answer can be found on page 150.
8 / 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.
9 / 10
If interest rates fall, what is likely to happen to bond prices?
Correct! Bonds are highly sensitive to interest rates, so bond prices move inversely to interest rates.
10 / 10
What is a good way to connect with your readers?
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