Could you pass this investing knowledge quiz?

As part of our 10th-anniversary celebrations, the team at InvestSMART wanted to give you a gift that keeps on giving - a financial literacy test! I've always said knowledge is power, so what better way to flex and boost your invest smarts than with a quiz?

And just to sweeten the deal, I'll let you in on a little secret: Complete the Test Your Invest Smarts quiz and you could go in the running to win a $10,000 InvestSMART portfolio^*. Now that's what I call a power couple - knowledge and money!  

But before you dive in, here's a little heads-up. YouGov road-tested this 15-question quiz on more than 1,000 Aussies on our behalf, and guess what? The majority (74%^{^}) failed. But hey, maybe you can do better.  

Here's what we found:

• Scores: Only 26% of Aussies got a pass mark of eight or more out of 15; the average score was just six. No one aced this quiz.  
• Gender gap: 35% of men passed versus 18% of women. Men were more than twice as likely to score 10 or higher (19% v 7%).  
• Generational results: Baby Boomers led with a 30% pass rate, followed by Millennials (29%), Gen Z (24%), and Gen X (22%).  
• Income factor: Households with an annual income of $150k or more were more likely to have passed the test (48%) compared with those from lower-income households. 

I get why we may be a little rusty - recent years have been tough. The cost-of-living crisis has most of us focused on getting by, not building wealth. But now, more than ever, it's crucial to understand investing - it's one of the few accessible paths to financial security.

So, how invest smart do you think you are? Take the Test Your Invest Smarts quiz and see where you stand. Once you've worked out your strengths and weaknesses, you can set small, achievable goals to level up your knowledge.  

And don't forget to enter the competition to go in the draw to win a $10,000 investment portfolio. 

*Promoter: InvestSMART Financial Services Pty Ltd of 66 Clarence Street, Sydney NSW 2000 AFSL 226435 ABN 70 089 038 531. Promotion Period: 19 August 2024 to 23 October 2024. Enter by completing the "Test Your Invest Smarts" quiz and subscribing to receive the free InvestSMART newsletter or registering your participation if you are already a subscriber to the free InvestSMART newsletter. Prize: a $10,000 InvestSMART PMA investment portfolio. Ability to claim prize is subject to completion of an online PMA Investment Application, including identity verification and provision of a bank account with an Australian deposit-taking institution. A draw will take place on 24 October 2024 at the Promoter's Sydney office. Results to be published on Promotion website (www.TestYourInvestSmarts.com.au) on 25 October 2024. Promoter provides general financial advice only. See here for full terms and conditions. Authorised under ACT Permit No. TP 24/01106 and SA Permit No. T24/833.

^Survey of a nationally representative sample of 1,008 Australians aged 18 years and older commissioned by InvestSMART and conducted online by YouGov between 21st and 27th June 2024.