Brokerage Account Quiz

What is a brokerage account used for?

• To store money like a savings account

• To buy and sell investments like stocks, ETFs, and bonds

• To apply for loans and credit cards

• To pay monthly bills

Which type of brokerage account is best for retirement savings?

• Taxable brokerage account

• Roth IRA or Traditional IRA

• Business checking account

• Money market account

Which brokerage firm is best for long-term investors?

• Robinhood

• Webull

• Vanguard

• TD Ameritrade

What is the first step in opening a brokerage account?

• Choosing a brokerage firm

• Making your first investment

• Buying stocks immediately

• Withdrawing money from your bank

Which of the following is a key factor to consider when selecting a brokerage?

• The company’s logo

• Whether the platform has a mobile app

• Fees, account types, and customer support

• How fast they approve your account

What personal information is typically required to open a brokerage account?

• Social Security Number, Address, and Employment Information

• Favorite color and pet’s name

• Referral from a financial advisor

• Credit card number

What is the most common way to fund a brokerage account?

• Credit card deposit

• Bank transfer (ACH)

• Sending a check by mail

• Bitcoin deposit

Which of the following is an example of a common fee you might encounter with a brokerage account?

• Account registration fee

• Stock trading commissions or expense ratios

• Social media subscription fee

• Monthly account renewal fee

What is an advantage of using two-factor authentication (2FA) on your brokerage account?

• It speeds up trading execution

• It protects your account from hackers

• It eliminates all taxes on your investments

• It allows unlimited withdrawals

What should you do after opening a brokerage account?

• Immediately buy the first stock you see trending on social media

• Invest all your savings into one company

• Research investments, build a strategy, and make an informed decision

• Withdraw your money right away to avoid fees