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Chapter 14: Personal Finance Quiz
Test your knowledge of the personal finance chapter material!
1 / 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.
2 / 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!
3 / 10
Why is it a good idea to meet financial professionals in your community?
Answer can be found on page 149.
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
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.
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
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.
8 / 10
True or false: There’s no such thing as high returns without any risk.
Read more on page 147.
9 / 10
Which of the following is not a reason taking a personal financial planning course would benefit you as a reporter?
Answer can be found on page 147.
Correct! Taking courses will give you a firm foundation in personal finance, but as a reporter it is still not your job to give advice to people for their specific situations.
10 / 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.
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