Money Quiz

Test yourself on your financial knowledge

1. If you saved R1000 a month in an investment that offered compound interest of 10% a year, how much would you have after 10 years (rounded to the closest rand)? a) R120 000 b) R121 200 c) R206 552 d) R490 073

2. What is an exchange traded fund? a) A pooled investment traded like a share b) A type of derivative c) A capital venture equity investment d) A property investment

3. Who said “Markets can remain irrational longer than you can remain solvent”? a) John Maynard Keynes b) Albert Einstein c) Warren Buffett d) George Soros

4. What index measures the US stock market? a) JSE/FTSE All-share Index b) JSE/FTSE Resources Index c) S&P 500 Index d) MSCI World Index

5. If the inflation rate is 5% a year, how many years will it take for your money to halve in value? a) 10 years b) 14 years c) 20 years d) 27 years 6. What is the maximum percentage that a South African multi-asset high-equity fund can invest in shares, excluding property shares? a) 50% b) 75% c) 80% d) 95%

7. Who is the Financial Services, or so-called FAIS, Ombud? a) Zweli Mkhize b) Judge Ron McLaren c) Judge Bernard Ngoepe d) Adv Nonku Tshombe

8. At what age can you claim a secondary rebate on your income tax? a) 55 b) 60 c) 65 d) 70

9. Which government body is responsible for tax collection? a) The Department of Trade and Industry b) The SA Reserve Bank c) The Financial Sector Conduct Authority d) The SA Revenue Service

10. If your estate is worth R3million, how much estate duty will need to be paid if you die suddenly? a) None b) 10% c) 20% d) 25%

ANSWERS: 1c, 2a, 3a, 4c, 5b, 6b, 7d, 8c, 9d, 10a