This is the ninth of a recurring series of quizzes to test your knowledge on physician personal finance and investing topics. Some people learn best by reading textbooks. Others like listening to lectures in a course format. This series of quizzes is designed for the physician or other high-income professional who learns best by doing questions.
Each quiz will have ten or so questions. To see the answer, click the “Show Answer” button under each question.
No actual CME can be earned with these quizzes, but hopefully you’ll learn something by answering the questions and reading the explanations. Good luck!
[socialpoll id=”2530411″]
The correct answer is B. The investment with an 8% annual return will be worth 1.08^30 = $10.06 in 30 years, while the investment with a 7% return will be worth $7.61 in 30 years. The investment with an 8% return will be worth $10.06/$7.61 or 32% more than the investment with an 7% return over 30 years. You probably could have also gotten this question correct by just selecting the answer closest to 1% x 30 years = 30%.
[socialpoll id=”2530412″]
The correct answer is B. Investors can deduct up to $3,000 in capital losses on their taxes each year. Additional losses can be rolled over for future tax years. Remember to follow the IRS rules and avoid wash sales when taking capital losses.
[socialpoll id=”2530413″]
The correct answer is B. While target-date funds are often considered simply a basket of index funds, it turns out that many target-date funds actually contain actively-managed funds and have high expense ratios. Since target-date funds are often used by new or inexperienced investors, it’s important to always look at the expense ratio and components of the target-date fund to be sure that they hold index funds.
[socialpoll id=”2530414″]
The correct answer is D.The later you start taking Social Security benefits, the higher your monthly benefit will be. The latest you can start taking Social Security benefits is age 70.
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The correct answer is B. While capital losses are subject to wash sale rules, capital gains are not. You are free to immediate purchase stock that you sold for a profit without tax consequences.
[socialpoll id=”2530416″]
The correct answer is A. Municipal bonds, because of their favorable tax treatment, typically have lower expected returns than corporate bonds of similar quality.
[socialpoll id=”2530417″]
The correct answer is A. As your income rises, the marginal increase in utility / happiness from each additional dollar you earn decreases (law of diminishing returns).
[socialpoll id=”2530418″]
The correct answer is A. Dividend stocks give regular dividends to their investors, which are taxable if the stocks are held in a taxable account. Therefore, a portfolio of high-dividend stocks are less tax-efficient than holding index funds.
[socialpoll id=”2530419″]
The correct answer is A. When the dollar is strengthening versus other currencies, it means that your U.S. dollars are worth more, so when you go to the currency exchange to exchange your dollars for foreign currency, you’ll get more foreign currency.
[socialpoll id=”2530420″]
The correct answer is B. A recession is generally defined as two consecutive quarters of negative GDP growth. In general, GDP growth is a lagging indicator; the stock market has usually begun to fall far before a recession is officially declared.
What do you think? How’d you do on the quiz?
Thanks.
It is surprising that <1/3 know what a recession is.
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Being a scam victim can be depressing, you were given empty promises. They usually stop replying after achieving their aim which hurts even more, i have been there too as I was too ambitious and wanted to get back my lost Btc worth $412,000. I never thought I would be getting back a dime back and already lost hope until I contacted this Verified Recovery expert Morris Gray which was with a leap of faith, as I wasn’t going to go down without a fight. I was able to recover a significant part of my BTC through these recovery experts. Do not brood alone, make a move too. Write to him on email at ( MORRIS GRAY 830 @ GMAIL COM ) or whats app +1 (607) 698-0239 for Quick responds.
A MUST READ FOR ANYONE WHO HAS EVER FALLEN FOR CRYPTO SCAM BEFORE!!!
My $1.65 million dolllars was stolen by a phoney wallet that refused to let me withdraw it. Their moniker was Coinbox/vip. When I launch the browser on my phone, the platforms page opens with the Coinbase logo. The legal description of their app wallet mentions Coinbase, and the help centre button links to Coinbase help. However, when I contacted Coinbase, they responded via email that they are not affiliated with Coinbox. Coinbox has now informed me that I must pay a 185k tax before receiving my funds. I immediately opened a case with Owlet tech recovery . com, a guaranteed recovery company, they patched me through MR MORRIS GRAY their smart contract developers on Whatsapp with [+1 (607) 698 0239 ] who then immediately performed a smart contract audit using digital triangulation from outsourced wallets. I’m crying right now as I just received a deposit of 127.4 Btc in my trust wallet. I’m now waiting for the Ethereum gas fee to come through so I can detach the remaining from outsourced wallets. his Email is: Morrisgray 830 @ gmail . com…
GET RICH WITH BLANK ATM CARD, Whatsapp: +18033921735
I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Online Hackers send them the atm blank card and use it to collect money in any atm machine and become rich {DARKWEBONLINEHACKERS@GMAIL.COM} I email them also and they sent me the blank atm card. I have use it to get 500,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.
You can also contact them for the service below
* Western Union/MoneyGram Transfer
* Bank Transfer
* PayPal / Skrill Transfer
* Crypto Mining
* CashApp Transfer
* Bitcoin Loans
* Recover Stolen/Missing Crypto/Funds/Assets
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Text & Call or WhatsApp: +18033921735
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I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Online Hackers send them the atm blank card and use it to collect money in any atm machine and become rich {DARKWEBONLINEHACKERS@GMAIL.COM} I email them also and they sent me the blank atm card. I have use it to get 500,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.
You can also contact them for the service below
* Western Union/MoneyGram Transfer
* Bank Transfer
* PayPal / Skrill Transfer
* Crypto Mining
* CashApp Transfer
* Bitcoin Loans
* Recover Stolen/Missing Crypto/Funds/Assets
Email: darkwebonlinehackers@gmail.com
Text & Call or WhatsApp: +18033921735
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