Test your knowledge of some of the most important news stories involving money. This week, see if you know the difference between gross and net income, what it’s called when you “rent” out an investment, and which company became the first to achieve a $1 trillion valuation.
Find out in the 7 questions below:
This company regularly rakes in more than $8 billion in revenue annually and has a number of tricks and tools it uses to drive your inner impulse shopper.
The answer is QVC, the home-shopping television network that broadcasts 24 hours a day. The network has crafted a careful formula over the years that drives viewers to make purchases—through physical cues, countdowns, etc.—and has even led to some cases of QVC “addiction”.
What’s the difference between gross income and net income, in regard to your personal finances?
Your gross income is your total earnings or the amount of money you make before any deductions. Your net income is how much you receive after taxes and other deductions, such as Social Security and Medicare–or, how much you actually see on your paycheck. It’s an important distinction that can help you create and maintain a budget.
Read more: How to Save Money with a Budget
What type of property can you purchase, that previously housed some of the U.S. government’s most secretive (and maybe scariest) inventions?
A financial therapist might be able to help individuals with which of the following conditions:
The answer is hoarding, which is a condition in which people have trouble letting go of things they view as storing value—thus, the financial angle and would be a reason to make an appointment with a financial therapist.
REFRESHER: What does “ETF” stand for?
The answer is an exchange-traded fund, and as an additional refresher, ETFs are baskets of investments pooled together to create a single fund, similar to a mutual or index fund.
Which state was named the best to retire to, according to industry data?
South Dakota is the best state in the U.S. for retirees, according to rankings from Bankrate.com. What makes SoDak so great? A combination of safety, good health care options, and a low cost of living.
Read more: The 10 Best States to Retire
Which company recently became the first to cross the $1 trillion market cap?
Apple broke the $1 trillion mark recently, after releasing a strong Q3 financial report. It is the first company to reach this record valuation.
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*The results of this quiz does not imply any level of skill or training on the part of any customer. The content of this quiz is for educational purpose only.