Test Your Financial Planning IQ
Published Thursday, November 23, 2023 at: 8:58 AM EST
The five questions below are a challenge meant to allow you to assess your knowledge of investing, tax and financial planning. If you have been following our news stream, this quiz draws on familiar ground. The answers are below.
- The back-door Roth IRA:
- was disallowed in 2022 by the IRS
- sidesteps the income limitation on contributing to a Roth IRA
- offers no estate tax benefits
- all of the above
- none of the above
- Which is true?
- the yield curve was inverted throughout 2022
- the leading economic indicators index has signaled recession for over 18 months
- 6.5 million jobseekers in October 2023 were outnumbered by 9.6 million job openings
- all of the above
- none of the above
- Office space real estate investments:
- pose a major risk to the nation’s 10 largest banks
- pose a major risk to small and regional banks
- appreciated in 2023
- all of the above
- none of the above
- The Federal Reserve:
- hiked interest rates more than 1000% since March 2022
- caused almost every recession in modern history
- publishes a U.S. financial stability report semi-annually
- All of the above
- None of the above
- What’s true?
- Total tax burden of Americans is much higher than in Germany or France
- Construction employment is at a record low
- The Standard & Poor’s 500 stock index is nearly 20% off its all-time high
- all of the above
- none of the above
1.b, 2. d, 3. b, 4. d, 5.e
Nothing contained herein is to be considered a solicitation, research material, an investment recommendation, or advice of any kind, and it is subject to change without notice. Any investments or strategies referenced herein do not take into account the investment objectives, financial situation or particular needs of any specific person. Product suitability must be independently determined for each individual investor. Tax advice always depends on your particular personal situation and preferences. You should consult the appropriate financial professional regarding your specific circumstances. The material represents an assessment of financial, economic and tax law at a specific point in time and is not intended to be a forecast of future events or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete, and is not intended to be used as a primary basis for investment decisions. This article was written by a professional financial journalist for Advisor Products and is not intended as legal or investment advice.
©2023 Advisor Products Inc. All Rights Reserved.
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