Staying the course - Wealth Quiz

 

  • QUESTION 1

    If inflation is 6%, how much does your money need to grow by to ensure you can buy the same basket of goods and services next year?

     

    Correct!
    Incorrect! Your investments need to grow at more than 6% if your money is to keep its value. See "Interested in investing? Here's what you need to know" for more.

  • QUESTION 2

    How much money do tax-free savings accounts allow investors to save annually without capital or returns being taxed?

     

    Correct!
    Incorrect! Tax-free savings accounts allow you to save up to R30 000 a year without the capital or returns being taxed. See "Interested in investing? Here's what you need to know" for more.

  • QUESTION 3

    Which of the below is an asset class?

     

    Correct!
    Incorrect! Bonds are an asset class. See "Interested in investing? Here's what you need to know" for more.

  • QUESTION 4

    Which definition of compound interest is correct?

     

    Correct!
    Incorrect! Compound interest is the process of generating earnings on an asset's reinvested earnings. See "The beauty of compound interest" for more.

  • QUESTION 5

    Businesses issue shares in order to:

     

    Correct!
    Incorrect! Businesses issue shares to raise capital. See "Interested in investing? Here's what you need to know" for more.

  • QUESTION 6

    Which asset class is generally considered the most conservative?

     

    Correct!
    Incorrect! Cash is generally considered the most conservative asset class. See "Interested in investing? Here's what you need to know" for more.

  • QUESTION 7

    If you save R10 000 at a return of 6%, and withdraw the interest every year, at the end of 10 years you'll have:

     

    Correct!
    Incorrect! If you save R10 000 at a return of 6%, and withdraw the interest every year, at the end of 10 years you'll have R10 000. See "The beauty of compound interest" for more.

  • QUESTION 8

    If you put R1000 in a savings account with an interest rate of 10%, and don't make any withdrawls, how much money will you have at the beginning of year 3?

     

    Correct!
    Incorrect! If you put R1000 in a savings account with an interest rate of 10%, and don't make any withdrawls, you will have R1 210 at the beginning of year 3. See "The beauty of compound interest" for more.

  • QUESTION 9

    In the context of financial goal setting, what does the SMART acronym stand for?

     

    Correct!
    Incorrect! The SMART acronym stands for Specific, Measurable, Achievable, Relevant, Time-bound. See "Goals: Keeping you focused on financial success" for more.

  • QUESTION 10

    What tool can you use in order to reach long-term financial milestones?

     

    Correct!
    Incorrect! You can use short-term goal setting to reach longer-term financial goals. See "Goals: Keeping you focused on financial success" for more.

  • QUESTION 11

    Which one of the below qualities is a risk-averse investor likely to display?

     

    Correct!
    Incorrect! A risk-averse investor is likely to display caution. See "Understanding your financial personality can pay dividends" for more.

Thanks for playing!

 

Back to series articles

Copyright Discovery Ltd is the licensed controlling company of the designated Discovery Insurance Group. Registration number: 1999/007789/06.
Companies in the Group are licensed insurers and authorised financial services providers.

Log in

Please click here to login into Discovery Digital Id

Please click here to login into Discovery Digital Id