<section><h2>What’s Your Investing IQ?</h2><p><p>Investing in the financial markets is now part of everyday life. Yet, many Americans remain in the dark about investment products and how they work. Interested in testing your knowledge?</p></p></section><section><h2>When a company goes bankrupt, who gets paid first?</h2></section><section><h3>Which of the below is one difference between an open-ended mutual fund and an ETF?</h3></section><section><h3>If you believe interest rates will increase, what should you consider doing?</h3></section><section><h3>A convertible bond is…?</h3></section><section><h3>The U.S. Gross Domestic Product (GDP) is a measure of...?</h3></section><section><h3>Selling short means…?</h3></section><section><h3>An annuity that is purchased with a single lump sum and provides income within a year of purchase is…?</h3></section><section><h3>The Federal Open Market Committee regularly assesses the economy and its monetary policy. How often do they meet each year?</h3></section><section><h3>You are permitted to change from one 529 College Savings Plan to another plan…?</h3></section><section><h3>Investing in overseas markets involves risk that investing in domestic markets does not. Identify one of those risks.</h3></section><section><h2>It may be time to study up on investing.</h2><p><p><i>Disclosures</i></p><p><i>Question 1: The return and principal value of stock and preferred stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost.</i></p><p><i>Question 2: The market value of a bond will fluctuate with changes in interest rates. As rates rise, the value of existing bonds typically falls. If an investor sells a bond before maturity, it may be worth more or less than the initial purchase price. By holding a bond to maturity an investor will receive the interest payments due plus his or her original principal, barring default by the issuer. Investments seeking to achieve higher yields also involve a higher degree of risk.</i></p><p><i>Question 3: Exchange Traded Funds (ETFs) are subject to market risk and the risks of their underlying securities. Some ETFs may involve international risks, which include differences in financial reporting standards, currency exchange rates, political risk unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility. ETFs that focus on a small universe of securities may be subject to more market volatility as well as the specific risks that accompany the sector, region or group. An ETF’s trading price may be at a premium or discount to the net asset value of the underlying securities.</i></p><p><i>Question 4: In order to sell short, you are required to open a margin account. Selling a security short involves greater risk, including the risk of unlimited losses in a position. Selling short is not suitable for all investors.</i></p><p><i>Question 5: </i><span style="background-color: transparent; color: inherit; font-size: 18px; letter-spacing: 0px;"><i>A 529 plan is a savings plan that allows individuals to save for education on a tax-advantaged basis. In addition to college, 529 plans may now be used to fund elementary and secondary education. The tax treatment of 529 plans is only one factor to consider prior to committing to a savings plan. Also consider the fees and expenses associated with the particular plan. Whether a state tax deduction is available will depend on your state of residence. State tax laws and treatment may vary. Earnings on non-qualified distributions will be subject to income tax and a 10% federal penalty tax.</i></span></p><p><i>Question 6: International investments carry additional risks, which include differences in financial reporting standards, currency exchange rates, political risk unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility. The return and principal value of stock and preferred stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost.</i></p></p></section><section><h3>Not bad, but there’s more to learn.</h3><p><p><i>Disclosures</i></p><p><i>Question 1: The return and principal value of stock and preferred stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost.</i></p><p class=""><i class="">Question 2: The market value of a bond will fluctuate with changes in interest rates. As rates rise, the value of existing bonds typically falls. If an investor sells a bond before maturity, it may be worth more or less than the initial purchase price. By holding a bond to maturity an investor will receive the interest payments due plus his or her original principal, barring default by the issuer. Investments seeking to achieve higher yields also involve a higher degree of risk.</i></p><p><i>Question 3: Exchange Traded Funds (ETFs) are subject to market risk and the risks of their underlying securities. Some ETFs may involve international risks, which include differences in financial reporting standards, currency exchange rates, political risk unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility. ETFs that focus on a small universe of securities may be subject to more market volatility as well as the specific risks that accompany the sector, region or group. An ETF’s trading price may be at a premium or discount to the net asset value of the underlying securities.</i></p><p><i>Question 4: In order to sell short, you are required to open a margin account. Selling a security short involves greater risk, including the risk of unlimited losses in a position. Selling short is not suitable for all investors.</i></p><p><i>Question 5: </i><span style="background-color: transparent; color: inherit; font-size: 18px; letter-spacing: 0px;"><i>A 529 plan is a savings plan that allows individuals to save for education on a tax-advantaged basis. In addition to college, 529 plans may now be used to fund elementary and secondary education. The tax treatment of 529 plans is only one factor to consider prior to committing to a savings plan. Also consider the fees and expenses associated with the particular plan. Whether a state tax deduction is available will depend on your state of residence. State tax laws and treatment may vary. Earnings on non-qualified distributions will be subject to income tax and a 10% federal penalty tax.</i></span></p><p><i>Question 6: International investments carry additional risks, which include differences in financial reporting standards, currency exchange rates, political risk unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility. The return and principal value of stock and preferred stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost. </i></p></p></section><section><h3>Excellent job!</h3><p><p><i>Disclosures</i></p><p><i>Question 1: The return and principal value of stock and preferred stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost.</i></p><p><i>Question 2: The market value of a bond will fluctuate with changes in interest rates. As rates rise, the value of existing bonds typically falls. If an investor sells a bond before maturity, it may be worth more or less than the initial purchase price. By holding a bond to maturity an investor will receive the interest payments due plus his or her original principal, barring default by the issuer. Investments seeking to achieve higher yields also involve a higher degree of risk.</i></p><p><i>Question 3: Exchange Traded Funds (ETFs) are subject to market risk and the risks of their underlying securities. Some ETFs may involve international risks, which include differences in financial reporting standards, currency exchange rates, political risk unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility. ETFs that focus on a small universe of securities may be subject to more market volatility as well as the specific risks that accompany the sector, region or group. An ETF’s trading price may be at a premium or discount to the net asset value of the underlying securities.</i></p><p><i>Question 4: In order to sell short, you are required to open a margin account. Selling a security short involves greater risk, including the risk of unlimited losses in a position. Selling short is not suitable for all investors.</i></p><p><i>Question 5: </i><span style="background-color: transparent; color: inherit; font-size: 18px; letter-spacing: 0px;"><i>A 529 plan is a savings plan that allows individuals to save for education on a tax-advantaged basis. In addition to college, 529 plans may now be used to fund elementary and secondary education. The tax treatment of 529 plans is only one factor to consider prior to committing to a savings plan. Also consider the fees and expenses associated with the particular plan. Whether a state tax deduction is available will depend on your state of residence. State tax laws and treatment may vary. Earnings on non-qualified distributions will be subject to income tax and a 10% federal penalty tax.</i></span></p><p dir="ltr"><i style="background-color: transparent; color: inherit; font-size: 18px; letter-spacing: 0px;">Question 6: International investments carry additional risks, which include differences in financial reporting standards, currency exchange rates, political risk unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility. The return and principal value of stock and preferred stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost.</i><i style="background-color: transparent; color: inherit; font-size: 18px; letter-spacing: 0px;"> </i><br></p></p></section><section><h3></h3><p></p></section>