Finance Quiz.pdf

13.06.2024, 22:58 Finance Quiz Finance Quiz Total points 23.5/50 Finance Quiz The respondent's email ([email protected]) was recorded on su...

13.06.2024, 22:58 Finance Quiz Finance Quiz Total points 23.5/50 Finance Quiz The respondent's email ([email protected]) was recorded on submission of this form. Discretionary Income is the amount that is left after income tax, Canada *0/1 Pension Plan (CPP) and Employment Insurance (EI) is deducted. True False Correct answer False What are the 4 functions of money? * 3/4 1.Medium exange. 2. Store of value 3. Standart of value. 4.Future exange Feedback Medium of exchange: Standard of value: Store of value: Standard of future payment: https://docs.google.com/forms/d/e/1FAIpQLSc650_CuLRE13FOV4WVJLh0opIG4_WHo-n-2-1lU1L-P6vURA/viewscore?vc=0&c=0&w=1&flr=0&v… 1/14 13.06.2024, 22:58 Finance Quiz Feedback The bid price refers to the highest price a buyer will pay for a security. The ask price refers to the lowest price a seller will accept for a security. Which of the following statements best describes a limit order? * 1/1 It ensures the trade is executed immediately at the current market price It allows for price control and ensures the trade is executed regardless of market conditions It provides control over the trade price, but the trade may not be executed if the price is not reached It guarantees that the trade will be executed at a better price than specified Why does the government collect income tax? * 0/1 Goverment collect income tax that they would have more money. Feedback to provide public programs like healthcare, roads, schools etc https://docs.google.com/forms/d/e/1FAIpQLSc650_CuLRE13FOV4WVJLh0opIG4_WHo-n-2-1lU1L-P6vURA/viewscore?vc=0&c=0&w=1&flr=0&v… 2/14  Royal Bank of Canada 13.06.2024, 22:58 Finance Quiz The Bank of Canada The Queen of England Yoda What is the primary advantage of using a market order to buy or sell a *0/1 stock? Ensures the trade is executed at a specific price Guarantees the trade will be executed quickly Provides control over the trade price Allows the trade to be executed at a better price than specified Correct answer Guarantees the trade will be executed quickly Setting up a personal financial plan requires establishing realistic and *1/1 achievable short and long term goals. True False https://docs.google.com/forms/d/e/1FAIpQLSc650_CuLRE13FOV4WVJLh0opIG4_WHo-n-2-1lU1L-P6vURA/viewscore?vc=0&c=0&w=1&flr=0&v… 3/14 13.06.2024, 22:58 Finance Quiz Feedback Registered Education Savings Plan What does GIC stand for? * 0/1 GIC- is whn you put your money into the bank and get your mountly presentage from that sum. Feedback Guaranteed Investment Certificates Mkt cap is? * 0/1 Total value of the company on the market Number of shares held by investors. This is the change from the previous day’s closing price. The highest and lowest trading price the previous day. Correct answer Total value of the company on the market https://docs.google.com/forms/d/e/1FAIpQLSc650_CuLRE13FOV4WVJLh0opIG4_WHo-n-2-1lU1L-P6vURA/viewscore?vc=0&c=0&w=1&flr=0&v… 4/14 13.06.2024, 22:58 Finance Quiz Feedback TSX – Toronto Stock Exchange Name one thing that could affect your credit rating. * 1/1 If you do not pay money back on time. Feedback answers may vary - missed payment What is a bond? * 0/1 An equity security representing ownership in a corporation A debt security issued by corporations, municipalities, or governments to raise capital A financial instrument that grants voting rights in a company A type of investment that only yields returns from stock dividends Correct answer A debt security issued by corporations, municipalities, or governments to raise capital https://docs.google.com/forms/d/e/1FAIpQLSc650_CuLRE13FOV4WVJLh0opIG4_WHo-n-2-1lU1L-P6vURA/viewscore?vc=0&c=0&w=1&flr=0&v… 5/14  False 13.06.2024, 22:58 Finance Quiz Canadian Constitution of _________ created a common, unified banking *0/1 system controlled by the federal government. 1867 1967 1903 2001 Correct answer 1867 Which of the following is a benefit of Exchange-Traded Funds (ETFs)? * 1/1 They can only be traded at the end of the trading day They offer diversification and low fees They come with high management fees They limit investment to a single asset class https://docs.google.com/forms/d/e/1FAIpQLSc650_CuLRE13FOV4WVJLh0opIG4_WHo-n-2-1lU1L-P6vURA/viewscore?vc=0&c=0&w=1&flr=0&v… 6/14  They are managed by professional fund managers who make investment 13.06.2024, 22:58 decisions on behalf of the investors Finance Quiz They operate without any management, allowing investments to be made automatically They require investors to make daily investment decisions What is the primary purpose of diversification in investing? * 0/1 To maximize returns by focusing on a single high-performing investment To reduce risk by spreading investments across different asset classes To ensure investments are only in the highest-yielding sectors To invest solely in stocks and bonds Correct answer To reduce risk by spreading investments across different asset classes As expected return increases, so does your risk 1/1 True False https://docs.google.com/forms/d/e/1FAIpQLSc650_CuLRE13FOV4WVJLh0opIG4_WHo-n-2-1lU1L-P6vURA/viewscore?vc=0&c=0&w=1&flr=0&v… 7/14  line of credit 13.06.2024, 22:58 Finance Quiz Debit card Visa card Explain what a term deposit is. * 0/1 Deposit- its when you can send money from one card to anouther. Feedback Secure investment Deposit a fixed sum of money for a specific period of time Terms typically range from 30 days up to 5 years Guaranteed return Can cash in before the period is up What are the 3 C's of credit? * 0/3. Feedback 1. Character borrower’s willingness, reliability, and trustworthiness to make a loan repayment. 2. Capacity borrower’s ability to make payments on time 3. Capital value of borrower’s assets that could be used to repay debt https://docs.google.com/forms/d/e/1FAIpQLSc650_CuLRE13FOV4WVJLh0opIG4_WHo-n-2-1lU1L-P6vURA/viewscore?vc=0&c=0&w=1&flr=0&v… 8/14 13.06.2024, 22:58 Finance Quiz Feedback answer may vary - see slideshow TD Bank is a Schedule II bank * 0/1 True False Correct answer False Which of the following financial metrics indicates how much investors *1/1 are willing to pay per dollar of a company's earnings? Price-to-Earnings (P/E) Ratio Earnings Per Share (EPS) Dividend Yield Return on Investment (ROI) https://docs.google.com/forms/d/e/1FAIpQLSc650_CuLRE13FOV4WVJLh0opIG4_WHo-n-2-1lU1L-P6vURA/viewscore?vc=0&c=0&w=1&flr=0&v… 9/14 13.06.2024, 22:58 Finance Quiz Feedback bull Demand for and prices of most stocks are high! bear Offers to sell stocks exceeds orders to buy stocks and prices fall. What is the difference between common and preferred stocks? * 0/2 Common stoks- is stoks that you buy by your self and preferred stocks- is a kit of stoks. Feedback Common stocks – gives owners a voice in the operation of the business – can attend annual meeting & vote Preferred stock – no voting rights of shareholders; preferred shareholders are paid first & usually higher pay; less risk yet less yield Name 3 products that banks offer * 3/3 1.Dedit cards, 2.Credit cards, 3.Loans Feedback answers may vary - loans, mtg, credit cards, currency exchange etc. https://docs.google.com/forms/d/e/1FAIpQLSc650_CuLRE13FOV4WVJLh0opIG4_WHo-n-2-1lU1L-P6vURA/viewscore?vc=0&c=0&w=1&flr=0&… 10/14  cheque and would get money from another person account that gave him a cheque. 13.06.2024, 22:58 Finance Quiz Feedback A cheque is a document that orders a bank to pay a specific amount of money from a person's account. A cheque its self is only a promise to pay and have no value until the bank transfers the money. Name two ways banks makes money * 2/2 1. Investing money. 2. Service fee Feedback interest charged and investing other people money - others answers as well like fees https://docs.google.com/forms/d/e/1FAIpQLSc650_CuLRE13FOV4WVJLh0opIG4_WHo-n-2-1lU1L-P6vURA/viewscore?vc=0&c=0&w=1&flr=0&… 11/14 13.06.2024, 22:58 Finance Quiz Feedback Credit is used for personal items (home, car, concert tickets etc.) A instant enjoyment convenience emergencies credit rating D credit costs (interest) impulse buying overbuying financial difficulties What is the difference between saving and investing? * 2/2 Saving- you save your money, no profit. Investing- you invest money to make more money, but you can lose it too. Feedback Savings means safely putting money aside for future use. Investing is using your savings to earn extra income. https://docs.google.com/forms/d/e/1FAIpQLSc650_CuLRE13FOV4WVJLh0opIG4_WHo-n-2-1lU1L-P6vURA/viewscore?vc=0&c=0&w=1&flr=0&… 12/14 13.06.2024, 22:58 Finance Quiz Feedback The rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling. This form was created inside of Simcoe County District School Board. Report Abuse Forms https://docs.google.com/forms/d/e/1FAIpQLSc650_CuLRE13FOV4WVJLh0opIG4_WHo-n-2-1lU1L-P6vURA/viewscore?vc=0&c=0&w=1&flr=0&… 13/14 13.06.2024, 22:58 Finance Quiz https://docs.google.com/forms/d/e/1FAIpQLSc650_CuLRE13FOV4WVJLh0opIG4_WHo-n-2-1lU1L-P6vURA/viewscore?vc=0&c=0&w=1&flr=0&… 14/14