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Money QUIZ
Money QUIZ
February 20, 2024 Propertyology Head of Research and REIA Hall of Famer, Simon Pressley

MONEY QUIZ

Everyone has skills. Putting skills to good use to earn money is one thing, decisions that one makes with their money is another thing. In attempt to help all Australians to develop better money skills, Propertyology has produced this 15-question (multiple choice) test of foundation knowledge about money. Simply click on your answers below. Upon completing this 5-minute test, you will be provided with your total score, along with the correct answer to each question. Good luck!

1. For those who have very little assets and therefore ‘eligible’ for a taxpayer-funded age pension (once they reach 67yo), what is the current annual value for a couple?(Required)
2. Thinking about ‘Good Debt’ and ‘Bad Debt’, which is the most sensible order for paying off different types of credit?(Required)
3. Compounding growth essentially means allowing the increased value of an asset to roll on from year to year, thereby magnifying future growth from a bigger asset base. Which of the following scenarios is INCORRECT?(Required)

4. If someone entered the workforce in a full-time capacity at age 19-years and had the discipline to save $250 per week, how much money will they have saved by the time they are 26-years old (assuming an interest rate of 4 percent)?(Required)
5. According to the Rule of 72, something that grows by an average of 6% per year will take how long to double in value?(Required)

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6. Which of the below statements about RentVesting is TRUE?(Required)

7. Imagine that you and your partner want to exit the workforce at age 60 and enjoy a relaxed lifestyle (costing $150,000 per year) through to age 85. Assuming your home is debt free when you stop working, which of the following minimum retirement nest egg values is likely to be sufficient to support your goal?(Required)
8. How many times over the last 50-years did Australia have a national recession?(Required)

9. Due to most people lacking sufficient financial discipline and basic skills with money, Australia has a legislative framework which requires employers to pay money into a nominated superannuation fund for the benefit of employees when they retire. Which of the following statements about superannuation is TRUE?(Required)
10. Assuming the same time frame for each, which of the following real estate scenarios produced the highest capital growth rate?(Required)

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11. Which of the below statements about negative gearing is FALSE?(Required)
12. Which of the following statements about inflation is FALSE?(Required)
13. In 2021, there were 4.3 million Australians who were already age 65 or older. From that cohort, what percentage had stopped working and were financially independent (aka ‘comfortably retired’)?(Required)

14. Generally speaking, money in a household budget which is surplus to the ‘minimum’ home loan payment would work hardest if deposited where?(Required)
15. How much of Australian taxpayer’s money is spent each year on paying aged pensions?(Required)

Propertyology are national buyer’s agents and Australia’s premier property market analyst. Every capital city and every non-capital city, Propertyology analyse fundamentals in every market, every day. We use this valuable research to help everyday Aussies to invest in strategically-chosen locations (literally) all over Australia. Like to know more? Contact us here.

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Simon Pressley is a 3-time Australian Buyer’s Agent of the Year, an REIA Hall of Fame Inductee, a tertiary-qualified Property Investment Advisor, and a graduate of Australian Institute of Company Directors. His reputation as a thought-leading property market analyst is unparalleled, including correctly forecasting Hobart’s boom, Sydney-Melbourne’s last downturn, numerous regional star performers, and Australia coming out of COVID with the biggest boom in more than 15-years.
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