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Chapter 14: Personal Finance Quiz
Test your knowledge of the personal finance chapter material!
1 / 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.
2 / 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!
3 / 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.
4 / 10
What does Annual Percentage Rate (APR) consist of?
Correct! APR tells you the annual cost of a loan and is stated as a percentage.
5 / 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.
6 / 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.
7 / 10
True or false: Personal finance reporters are not personal finance advisors.
Read more on page 147.
8 / 10
What do you call an expense that is deducted from the adjusted gross income, reducing your taxable income?
9 / 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.
10 / 10
True or false: There’s no such thing as high returns without any risk.
Your score is
The average score is 90%
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