SPECIAL REPORT/NET WORTH SAT (STATUS AWARENESS TEST)
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(MONEY Magazine) – Ever wonder whether your perceptions of other people's finances square with reality? Take this quiz. We want to warn you that it's not easy; if you answer more than six questions correctly, consider yourself status-astute. The answers are on page 243. What is the median net worth (excluding cars) of households headed by individuals younger than 25? a) $10,000 b) $5,000 c) $500 d) $5 2. Which region of the country has the greatest concentration of households with annual incomes of $75,000 or more? a) New England b) Middle Atlantic c) South Atlantic d) Pacific 3. In which congressional district do the voters with the highest income live? a) Manhattan's East Side b) Arlington, Va. c) Northwest Houston d) Beverly Hills 4. Which state boasts the most millionaires per capita? a) Connecticut b) Utah c) Texas d) North Dakota 5. Cars, bank accounts, houses and life insurance are the most commonly owned assets. Which asset is owned by the fewest number of households? a) stocks b) municipal and corporate bonds c) equity in a business d) employer-sponsored thrift plans 6. Mercedes-Benz buyers have a median household income of: a) $78,000 b) $108,000 c) $144,000 d) $210,000 7. Of the following kinds of households, which is most likely to have zero or negative net worth? a) those headed by people who did not finish high school b) those headed by blacks c) those headed by women under 35 d) those headed by women older than 65 8. What is the value of the stock in the typical shareholder's portfolio? a) $6,200 b) $8,500 c) $14,300 d) $22,500 9. The typical new stockholder, who bought stock for the first time within the past three years, is: a) a 25-year-old man earning around $30,000 b) a 34-year-old woman earning around $35,000 c) a 55-year-old woman earning around $40,000 d) a 65-year-old man who has just retired 10. How many transactions does the average stock-holding family make in a year? a) one b) two to three c) four to nine d) 10 or more 11. Next to entrepreneurs, who has the best odds of being among the 1/2% of households earning $280,000 or more? a) lawyers and accountants b) doctors and other health service professionals c) bankers, insurance executives and real estate brokers d) salaried professionals or managers in manufacturing and service industries 12. In what line of work do newly minted college graduates with bachelor's degrees command the highest starting salaries? a) business administration b) accounting c) liberal arts d) engineering END