How much do you really know about investing?
The Cyprus Securities and Exchange Commission (CySEC) has launched its first online quiz on its website, where the public can evaluate how much they really know about investments and test their knowledge on basic financial matters.
The quiz was prepared as an answer to CySEC's recent participation in World Investor Week 2022, which placed great emphasis on consumer education and awareness.
According to the press release, questions were prepared within the framework of the regulator's mandate to boost financial literacy among consumers and retail investors.
Inexperienced investors often make wrong investment decisions, based on assumptions and beliefs that stem from overconfidence in their investment knowledge or following encouragement from friends, relatives, and/or celebrities who promote investment products online, exposing them to high investment risks. What is more, investment risks are continually increasing due to new digital investment trends that are especially attractive to youngsters.
With the introduction of the new quiz, CySEC aims to offer investors and the public in general the opportunity to evaluate their knowledge about investments and basic financial matters through a pleasant activity. Moreover, the quiz is designed to be informative and educational, as the correct answer is revealed at the end of each question, along with a brief explanation. Intended to inform the public about financial matters, CySEC frequently enriches and updates the content of its website with financial educational material, such as articles, investor guides, and booklets which contain important instructions and advice that investors must be aware of before making investment decisions. The quiz's primary goal is to educate and inform, so after each question, the user will see the correct answer and additional materials related to the topic covered by the question. Want to test your financial knowledge?
The question still is:
How much do you really know about investing?
Let the public know where they can test their knowledge.
Let us know how you performed with the quiz. FAI Comply can assist with the implementation of procedures to ensure your firm maintains regulatory compliance. Please contact us to discuss your firm’s specific requirements and to discover how our team of experts can assist you with achieving and maintaining full regulatory compliance.
Written by Angeliki Georgiou
Legal Consultant | Financial Associates International (FAI Comply)