Monday, November 29, 2010

Money questions with answers that may surprise women

OppenheimerFunds.com offers women a lot of money management information including a 10-question quiz (below) intended to help us understand several things: That women should be saving for the long-term. That they must educate themselves about money management and that they must be more assertive about investing.

Here's the Oppenheimer Women & Money quiz.

1. ____ out of 10 women end up managing their own finances at some point in their lives.

A) 2 out of 10

B) 5 out of 10

C) 9 out of 10

D) 10 out of 10


2. Most women invest their retirement portfolios in:

A) investments that are suitable given their investment profile

B) investments that are too risky

C) investments that are too conservative

3. Most stock market investors get wiped out at least once in their lifetime.

A) True

B) False


4. You need a minimum of $_______ to start investing in many mutual funds.

A) $50

B) $100

C) $1,000

D) $10,000

5. About what percentage of preretirement income (average income during your last five years before retirement) do many experts say you will need to live comfortably once you’ve retired?

A) Less than 30%

B) 40-50%

C) 60-70%

D) 70-80%

E) 80-90%
6. If a 45-year-old woman plans to retire at age 60, how many years can she expect to live in retirement?

A) 10 years

B) 12 years

C) 19 years

D) 22 years

7. If inflation is 4% per year, how much would a $50 restaurant dinner for two cost in 10 years?

A) $54

B) $60

C) $74

D) $80


8. Over the past 30 years, which of the following investment classes had the greatest overall appreciation?

A) U.S. Corporate Bonds

B) U.S. Treasury Notes

C) Stocks

D) Insured CDs (Certificate of Deposits)


9. If a woman can only afford to invest $50 a month, she shouldn't bother.


A) True

B) False


10. The amount of money you can accumulate for your retirement nest egg in a tax-deferred retirement account versus a taxable account is generally:

A) less

B) more

C) the same

ANSWERS:

1)C  2)C  3)B  4)A  5)E  6)D  7)C  8)C  9)B  10)B.  For more, go to oppenheimerfunds.com

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