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Chapter 14: Personal Finance Quiz
Test your knowledge of the personal finance chapter material!
1 / 10
By federal law, consumers are entitled to one free credit report once every __ months from each of the three credit bureaus.
Answer can be found on page 153.
Correct!
2 / 10
What do you call an expense that is deducted from the adjusted gross income, reducing your taxable income?
3 / 10
Which of the following questions should you not answer as a personal finance reporter?
Answer can be found on page 147.
Correct! Beyond basic questions, the best way to answer a reader’s request for detailed financial advice is to suggest that they seek out an adviser.
4 / 10
True or false: Personal finance reporters are not personal finance advisors.
Read more on page 147.
5 / 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.
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’s a good way to make more local connections?
Answer can be found on page 150.
8 / 10
If interest rates fall, what is likely to happen to bond prices?
Answer can be found on page 152.
Correct! Bonds are highly sensitive to interest rates, so bond prices move inversely to interest rates.
9 / 10
True or false: There’s no such thing as high returns without any risk.
10 / 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.
Your score is
The average score is 90%
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