@bizjournalism
Two Minute Tips
Chapter 14: Personal Finance Quiz
Test your knowledge of the personal finance chapter material!
1 / 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.”
2 / 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.
3 / 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.
Correct!
4 / 10
True or false: You should only include the numbers that are relevant to your story.
You will lose your reader with numbers and statistics that you don’t explain in context. Read more on page 151.
Correct! You will lose your reader with numbers and statistics that you don’t explain in context.
5 / 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.
6 / 10
True or false: You can accurately predict the direction of interest rates and financial markets.
Read more on page 151.
7 / 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.
8 / 10
What do you call an expense that is deducted from the adjusted gross income, reducing your taxable income?
9 / 10
What does AGI stand for?
Correct! This is used to determine your taxable income.
10 / 10
What’s a good way to make more local connections?
Answer can be found on page 150.
Your score is
The average score is 90%
Restart quiz
Get Two Minute Tips For Business Journalism Delivered To Your Email Every Tuesday
Every Tuesday we send out a quick-read email with tips for business journalism. Sign up now and get one Tuesday.
