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Money News

Quizzical Education, Vol. 16: Test Your Money News IQ

August 23, 2018

1 min read

Test your knowledge of some of the most important news stories involving money. This week, see if you know which country’s currency is called the lira, which investing concept applies to fantasy sports, and how investors classify toilet paper.

Find out in the 7 questions below:

News Quiz Vol 16

Toilet paper, laundry detergent, and pet food are examples of what types of products?

Inferior goods
Consumer staples
Money pits
Luxury products

These are all examples of consumer staples, products that people buy regularly. Consumer staples are typically affected less by economic conditions, as people will need toilet paper no matter how poorly their portfolio performs.

Read more: Consumer Staples: Find Out About Defensive Stocks

News Quiz Vol 16

Which country’s currency is called the “Iira”?

North Korea

The lira is the currency of Turkey, which is in the middle of an economic crisis. The lira has lost 40% of its value since the beginning of 2018, and analysts are concerned that Turkey’s economic crisis could spread to other countries.

Read more: Let’s Talk Turkey’s Financial Crisis: What’s Happening?

News Quiz Vol 16

Which of the following investing concepts is also applicable to fantasy football?

Quarterly reports
Crypto markets

The answer is diversification. Like an investment portfolio, your fantasy football roster needs to be diversified–that is, you’ll want a variety of players with different skills to pick up the slack if some players don’t perform as expected.

Read more: How Fantasy Football Can Teach You About Investing

News Quiz Vol 16

This CEO is (still) under fire from government regulators after announcing plans on Twitter to take his company private.

Elon Musk
Jack Dorsey
Henry Ford
Indra Nooyi

The SEC subpoenaed Tesla CEO Elon Musk, after Musk fired-off a tweet about taking the electric car manufacturer private. Musk, who also faces ire from shareholders who are worried about their investments in Tesla, has said that the stress involved with running Tesla (along with his other companies) has made his life “excruciating”.

Read more: Elon Musk May Take Tesla Private: What Does That Mean?

News Quiz Vol 16

Which of the following is true about a stock split?

Stock splits reduce the number of outstanding shares on the market
Stock splits can only be carried out by trained lumberjacks
Stocks break into additional shares
Companies split stock to steal from shareholders

When a company has a stock split, it turns current shares into additional shares, increasing the number of outstanding shares on the market. The value of a shareholder’s stock doesn’t change, and their investment isn’t diluted, during a split.

Read more: What Happens When a Stock Splits?

News Quiz Vol 16

This back-to-school shopping season, the average household is expected to spend $___.


Total back-to-school spending is expected to be $1,330 per household, or about $25.5 billion collectively in the U.S. Where’s it all going? School supplies including pens and paper, as well as computers, calculators, backpacks, and clothing.

Read more: Back to School! How to Create a Back-to-School Budget For College

News Quiz Vol 16

How much does the average U.S. consumer spend on transportation every year?


The average U.S. consumer spends $9,000 per year on transportation—for things like new vehicles and gas. That doesn’t include extras like tolls, parking, and taxi trips. Add those in, and you’re looking at an additional $3,000 in expenses that can wreck your budget.

Read more: 7 Things You Probably Forgot to Add to Your Budget

News Quiz Vol 16

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By Sam Becker

*This content does not imply any level of skill or training on the part of any customer and should not be construed as a recommendation of any specific security. This is for educational purpose only.

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