data = [ { "question" : "1. What is a share?", "feedback" : "A share is simply a part ownership in a company. On the sharemarket each company has many millions of shares on issue with thousands of shareholders owning different numbers of shares. Shares are bought and sold by investors using the services of a stockbroker on the market provided by ASX. Shares are unlike loans in that the company who issued them is not required to repay them.", "correctAnswer" : "1", "answers": [{ "optionId" : 1, "optionText" : "A share represents part ownership in a business" }, { "optionId" : 2, "optionText" : "A share is an agreement with a stockbroker to deliver cash at a pre set point in the future" }, { "optionId" : 3, "optionText" : "A share represents a loan to a company" }, { "optionId" : 4, "optionText" : "A share is an agreement with ASX to deliver cash at a pre set point in the future" }] }, { "question": "2.The more shares you own in a company, the greater control you have in the direction that company takes:", "feedback" : "As shares represent part ownership in a company the larger the proportion of shares that you own, the more voting rights you have to determine that company's direction.", "correctAnswer" : "1", "answers": [{ "optionId" : 1, "optionText" : "TRUE" }, { "optionId" : 2, "optionText" : "FALSE" }] }, { "question": "3. In order to raise money a company has many funding options, these can include taking out a loan, or listing on ASX and issuing shares. What is one advantage to a company to issue shares over taking out a loan?", "feedback" : "Listing on the sharemarket presents a distinctly different funding option for companies. Issuing shares does present the following possible advantages: access to capital for growth, higher public and investor profile, institutional investment, improved valuation, a (secondary) market for company's shares, an exit strategy for early stage investors and the opportunity for alignment of employee/management interests.", "correctAnswer" : "3", "answers": [{ "optionId" : 1, "optionText" : "A company does not have to pay interest on shares and the company can decide at what point in the future they have to repay the original share sale price." }, { "optionId" : 2, "optionText" : "Shares can be issued at fixed interest rates and only half their original sale price needs to be repaid." }, { "optionId" : 3, "optionText" : "Unlike a loan from a bank, shares do not require interest payments, and the money paid for them is never required to be paid back." }, { "optionId" : 4, "optionText" : "Issuing shares guarantees the success of the company." }] }, { "question": "4. Buying shares in a company means which of the following?", "feedback" : "All share purchases need to be considered in terms of their risk-reward relationship. By becoming a part owner in a company there is the potential for financial rewards; however there are also risks involved, including the complete loss of your initial investment amount.", "correctAnswer" : "4", "answers": [{ "optionId" : 1, "optionText" : "You will receive a regular dividend" }, { "optionId" : 2, "optionText" : "You are entitled to membership of ASX" }, { "optionId" : 3, "optionText" : "You will be first to have your investment amount repaid if that company goes into liquidation" }, { "optionId" : 4, "optionText" : "You own part of that company" }] },{ "question": "5. When a company issues shares to the investing public for the first time, this process is known as..?", "feedback" : "Listing a company is the process of taking a privately-owned organisation and making the transition to a publicly-owned entity whose shares can be traded on a stock exchange. There are many terms for this process but essentially they refer to the same process.", "correctAnswer" : "4", "answers": [{ "optionId" : 1, "optionText" : "Going Public, Listing on the exchange" }, { "optionId" : 2, "optionText" : "An Initial Public Offering, or IPO" }, { "optionId" : 3, "optionText" : "A Float" }, { "optionId" : 4, "optionText" : "All of the above" }] },{ "question": "6. What percentage of shares would an investor need to own in order to have a majority vote in a publicly listed company?", "feedback" : "Shares represent part ownership in a company. The greater the level of ownership a shareholder has, the greater the number of votes they control at the company's Annual General Meeting and other associated meetings. By having greater than 50% of the voting rights in a company a shareholder holds the majority voting power. A 50.1% stake in the shares of a company does not give that shareholder absolute power though, as certain actions require a 75% or even 90% majority vote. ", "correctAnswer" : "4", "answers": [{ "optionId" : 1, "optionText" : "25%" }, { "optionId" : 2, "optionText" : "49%" }, { "optionId" : 3, "optionText" : "50%" }, { "optionId" : 4, "optionText" : "50.1%" }] }, { "question": "7. Only full service brokers have the ability to provide you with advice on whether a specific decision to buy or sell shares is a good or bad decision?", "feedback" : "Full service brokers are generally more expensive than discount phone or Internet brokers because they are able to make suggestions and provide advice about investment decisions. Although the advice does not guarantee share performance, this service is often highly valued by new investors who are still learning about investing on the sharemarket. Many experienced investors also use full service brokers because they can provide an alternative perspective. Discount brokers do not have the capability to provide advice.", "correctAnswer" : "1", "answers": [{ "optionId" : 1, "optionText" : "TRUE" }, { "optionId" : 2, "optionText" : "FALSE" }] },{ "question": "8. What are the two major functions of the sharemarket?", "feedback" : "The sharemarket has two main functions: 1. Operating the primary market, where companies raise money by issuing shares to investors.2. The secondary market, where investors buy and sell those shares at prices determined by market forces. Enforcing compliance with the Corporations Law falls chiefly into the jurisdiction of the Australian Securities and Investments Commission (ASIC).", "correctAnswer" : "4", "answers": [{ "optionId" : 1, "optionText" : "Buying and selling shares on behalf of investors, and providing a marketplace for trading shares" }, { "optionId" : 2, "optionText" : " Buying and selling shares on behalf of investors, and enforcing compliance with the Corporations Law" }, { "optionId" : 3, "optionText" : "Enforcing compliance with the Corporations Law; and providing a marketplace for trading shares" }, { "optionId" : 4, "optionText" : "Providing a link between companies wanting to raise capital and people with savings to invest; and providing a marketplace for trading shares" }] }, { "question": "9. Which of the following statements about ASX is most accurate?", "feedback" : "On a global scale ASX is a mature market with long term price movements similar to the major exchanges of the U.S. and U.K. ASX is a publicly listed company, listed on its own market. ASX does not provide investors with financial advice.", "correctAnswer" : "2", "answers": [{ "optionId" : 1, "optionText" : "ASX is the world's largest sharemarket with high levels of self-regulation and supervision" }, { "optionId" : 2, "optionText" : "ASX is a mature market where medium to long-term price movements are similar to movements on major overseas exchanges" }, { "optionId" : 3, "optionText" : "ASX is a government regulatory authority responsible for the trading of shares" }, { "optionId" : 4, "optionText" : "ASX provides financial advice and investment services directly to individual investors" }] },{ "question": "10. If you were new to investing on the sharemarket and wanted general advice and information about shares as well as specific advice on each decision you make, what kind of adviser might be best suited to your needs?", "feedback" : "Full service brokers provide a range of wealth management services alongside share trading transactions. They can tailor share recommendations to meet your risk profile.", "correctAnswer" : "4", "answers": [{ "optionId" : 1, "optionText" : "Lawyer" }, { "optionId" : 2, "optionText" : "Internet broker" }, { "optionId" : 3, "optionText" : "Discount phone broker" }, { "optionId" : 4, "optionText" : "Full service broker" }] }, { "question": "11. When buying and selling shares on the sharemarket, investors are buying shares from whom?", "feedback" : "Following a company's initial issue of shares in a float, shares are bought and sold between investors on the sharemarket. Stockbrokers act as the investors' agent in the market and ASX provides the marketplace, or infrastructure, to facilitate the trading process.", "correctAnswer" : "1", "answers": [{ "optionId" : 1, "optionText" : "Other investors" }, { "optionId" : 2, "optionText" : "The listed company" }, { "optionId" : 3, "optionText" : "ASX" }, { "optionId" : 4, "optionText" : "Their broker" }] } ];