What's Your Financial IQ? How knowledgeable are you about finance and money? Take this simple quiz of common financial terms and find out! deibou published on September 10, 20174 responses 0 « Previous Next » Questions in vertical order 1/6 What is passive income? Income that is earned based on your efforts, (ex. paycheck earned from working a job) Income that you receive from other sources rather than on your efforts 2/6 A capital gain occurs when a profit is made when selling a stock at a higher price than the price for which it was purchased. True False 3/6 What is an asset? Something that takes money out of your pocket Something that puts money into your pocket 4/6 What is an example of earned income? Income obtained from paper assets (ex. stocks, bonds, mutual funds) Income obtained from working a job (ex. paycheck) All of the above 5/6 A liability is defined as Something that takes money out of your pocket Something that puts money into your pocket 6/6 How would you classify your primary residence? An asset A liability Both--an asset and a liability
