Financial IQ Test  
What is your financial IQ? Take this 8-question quiz to find out! If you don’t like the results, try again. You will be asked a different set of questions.
     


A limit order:

Is used to protect a profit if it is a limit order to buy.
Is used to execute a sell at a specific price or lower if possible.
Is an order to buy or sell at a specific price or better and can be good till canceled.
Is an order to be executed at the best price available and is not known until after confirmation is received.

Credit cards:

Are a cost effective way of financing investment purchases.
Have interest payments that are not tax deductible.
Typically have lower interest rates than home equity loans.
Often have 3 month grace periods on new purchases.

The number of stocks that make up the Dow Jones Industrial Average is:

5,000.
500.
30.
10.

For tax purposes, a capital gain is considered long term if the investment was held more than:

1 day.
1 month.
1 year.
10 years.

Stocks whose returns are tied closely to the overall national economy are typically called:

Blue Chip stocks.
Defensive stocks.
Speculative stocks.
Cyclical stocks.

Since the mid-1920s inflation in the United States has averaged:

About 3 percent.
About 7 percent.
About 10 percent.
About 12 percent

Disability income insurance:

Can cover part of your lost income while you are disabled.
Pays medical expenses associated with a disability.
Should only be purchased by star athletes.
Is primarily for the unemployed.

The highest denomination of U.S. currency is:

The $20 bill
The $100 bill
The $1,000 bill
The $100,000 bill

 
   
   
First Independent Financial Services, Inc.
6660 S. Sheridan Road, Suite 260 Tulsa, OK 74133
Phone: 918-492-9484 Fax: 918-492-9488
fifs@bestbd.com