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Money News

Quizzical Education, Vol. 6: Test Your Money News IQ

June 14, 2018

1 min read

This week, see if you know how much the average American pays for a new vehicle, which company recently joined the S&P 500, and which independent government agency is definitely not run by the Illuminati.

Find out in the 7 questions below:

1/7
Quiz
 

The average American’s car payment has hit a record high of $___ per month.

$175
$225
$315
$523

The average American’s car payment is now $523 per month, according to data from Experian. That’s a 3% increase over last year. Also, the average new car loan is now $31,455, an increase of nearly $1,000 over last year.

Read more:
Americans are Paying More Than Ever For Their Cars

2/7
Quiz
 

This social media company is the newest member of the S&P 500.

Twitter
Snap
Pinterest
Vine

The answer is Twitter. Replacing agricultural chemical company Monsanto on the S&P 500 index, Twitter has managed to become one of America’s largest companies. Originally launched in 2006, Twitter has recently managed to reverse its track record of losing money, and notch two straight quarters of profit.

Read more:
Tweet This! Twitter is Joining the S&P

3/7
Quiz
 

At Apple’s annual worldwide developer's conference, the company announced changes to its suite of products, an operating system upgrade, and this surprising “Digital Health” feature.

Apple Health
Core Constitution
Screen Time
iWellness

Screen Time, a new feature of Apple’s OS, tracks how long you’ve been using your device, be it an iPad, iPhone, etc. It also tracks time spent using individual apps and reports it back to the user in a weekly summary. The goal? To make sure you’re giving your eyes a break and limiting distraction.

Read more: 
Apple Wants to Wean You Off Your iPhone: News from WWDC18

 

4/7
Quiz
 

This international financial institution recently reported that the world’s economy is set to keep growing at a brisk pace, while noting that trade wars could derail that progress.

The World Bank
The Federal Reserve
The International Monetary Fund
The Treasury Department

The answer is the World Bank, which provides loans and financing to developing countries in an effort to reduce poverty worldwide. It was founded in 144 following the Bretton Woods Conference, and its latest report forecasts global GDP growth of 3.1% in 2018, and for the U.S., 2.7%.

Read more:
The World Bank Has Some Good News, and Some Bad News

5/7
Quiz
 

This independent government agency, which plays an important role in our financial system, has long been the source of rumor, intrigue, and conspiracy theories.

The Treasury Department
Area 51
Nasdaq Blaq Force
The Federal Reserve

Whether it’s involvement by the Illuminati or the Bilderbergers, the Federal Reserve is at the heart of many conspiracy theories involving the American economy. But despite what you’ve heard, the Fed is audited, accountable to Congress, and does not print money. It does, however, control monetary policy and moderate interest rates.

Read more: 
5 Myths About the Federal Reserve You Shouldn’t Believe

 

6/7
Quiz
 

71.6% of Americans do not have an up-to-date ___.

Renters or homeowners insurance policy
Will
Voter Registration
Credit Score

Nearly three-fourths of Americans don’t have an up-to-date will. 63% don’t have one at all. A will, as you likely know, is a legal document dictating what happens to your assets after you die, and if you don’t have one, the government and courts will step in to disperse your assets.

Read more: 
6 Responsible Money Moves You Can Make in Less Than 1 Day

7/7
Quiz
 

Each of these companies was founded by a veteran or veterans, with the exception of ___.

Walmart
Nike
Amazon
FedEx

Amazon was not founded by a veteran, but Walmart, Nike, and FedEx all were. Walmart was founded by Sam Walton, who served in the Army during World War II. Nike was founded by Phil Knight, who served one year as an active-duty soldier in the U.S. Army (followed by seven years in the reserves). FedEx founder Fred Smith served two tours in Vietnam as a Marine.

Read more:
These Famous, Successful Companies Were All Founded by Military Veterans

 
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By Sam Becker

*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.

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