The Upside of Down
History shows that conservative sectors and industries often hold up better than the broader market during sell-offs. But if share prices in those industries do get dragged down with the rest of the market, this makes a rare opportunity to lock in sizeable -- and stable -- yields. For instance, which of these conservative closed-end funds currently sports a whopping 18.8% yield after investors indiscriminately sold off shares?

A.)  Macquarie/First Trust Global Infrastructure/Utility Dividend & Income (MFD)
B.)  Hyperion Total Return Fund (HTR)
C.)  BlackRock Enhanced Dividend Achievers (BDJ)
D.)  Morgan Stanley China A Share Fund (CAF)
E.)  Reeves Utility Income Trust (UTG)

The World's Strongest Banks
Which country's banks were rated the strongest in the world in November 2008 by the World Economic Forum?

A.)  Aruba
B.)  Brazil
C.)  Canada
D.)  Denmark
E.)  England

Keeping the Lights On
Which of these utilities operates in a region where electricity demand is growing by over +25% per year and is currently offering a hefty 10.7% dividend yield?

A.)  Southern Co. (SO)
B.)  Hawaiian Electric (HE)
C.)  CPFL Energia (CPL)
D.)  Huaneng Power (HNP)
E.)  Scottish Power PLC (SPI)

The Inside Track
Nobody knows the inner workings of a company better than the people who run it. And when they buy stock in their own company, it's because they expect it to go up. And they're usually right. When stocks have been aggressively bought by insiders, how much do they outperform the market?

A.)  +2.5%
B.)  +4.7%
C.)  +5.6%
D.)  +7.8%
E.)  +8.9%

What is Buffett Buying and Why?
While most investors have been sidelined by uncertainty, legendary investor Warren Buffett has been on a buying spree -- pouring $8 billion into new investments in the last few weeks alone. But instead of the common stocks he normally buys, the "Oracle of Omaha" picked the perfect investment for these risky times. What has Warren Buffett been buying?

A.)  6-month CDs
B.)  10-year "AAA" bonds
C.)  Preferred stocks
D.)  5-year "AAA" bonds
E.)  3-month Treasuries
 

+200% Returns from Africa
While many investors know emerging markets have generated strong investment returns over the past decade, they often overlook the promising opportunities in Africa. Which African stock market has been one of the best performing, generating more than a +200% return over the last five years alone?

A.)  Angola
B.)  Mali
C.)  Cameroon
D.)  Tanzania
E.)  Nigeria 

A New Fund Shows Gains of +180%
Which new exchange-traded fund (ETF) tracks an index that has delivered an impressive annualized return of +23% over the past five years, for a cumulative return of +180%?

A.)  SPDR Metals & Mining (XME)
B.)  SPDR International Industrial Sector (IPN)
C.)  Market Vectors Coal (KOL)
D.)  Market Vectors Gaming (BJK)
E.)  Vanguard Growth (VUG)

Havin' Fun with Funds
Financial stocks make up 50% or more of many equity-income fund portfolios. Which of these funds devotes less than 20% to the financial sector -- and still provides a hefty 15.9% yield to boot?

A.)  Alpine Global Dividend (AGD)
B.)  Kayne Anderson Energy Total Return (KYE)
C.)  Vanguard Dividend Appreciation (VIG)
D.)  WisdomTree Europe Dividend (DEB)
E.)  First Trust Value Line Dividend (FVD)

It Pays to Stay Calm
The market is bearish and some investors are in panic mode. The last time the market traded in bear-market territory was between March 2000 and February 2002. But how much have savvy investors made after picking up stocks like Research In Motion (RIMM) and Apple (AAPL) at bargain prices?

A.)  Between +50% and +75%
B.)  Between +150% and +250%
C.)  Between +500% and +750%
D.)  Between +1000% and +3500%
E.)  Between +4000% and +6000%

Lighting Up the World
Utility companies in the U.S. are known for their slow growth, but that's not necessarily true in the rest of the world. Which of the following foreign utilities has grown revenues at an astounding rate of +25% over the last five years?

A.)  Transportadora de Gas Del Sur S.A. (TGS)
B.)  Korea Electric Power (KEP)
C.)  Empresa National Electric (EOC)
D.)  Huaneng Power (HNP)
E.)  Enersis S.A. (ENI)

An Asian Performer
Over the last five years, which of the Asian markets listed below outperformed the others, delivering +171% total returns to U.S. investors for an annualized rate of more than +22%?

A.)  Japan
B.)  Taiwan
C.)  South Korea
D.)  Singapore
E.)  Malaysia 

Higher Returns and Dividends Abroad
Many investors focus their attention on American markets, but with strong growth abroad, the U.S. has become a market laggard and a "dividend desert." Which of the following markets offers superior total returns and higher average yields than the U.S.?

A.) Taiwan
B.) Italy
C.) Peru
D.) Sweden
E.) All of the above 

$3 Trillion in Potential Revenue
Recently, one oil giant discovered a new field predicted to contain as much as 30 billion barrels of oil -- enough to power the entire United States for nearly four years, and generate revenue of more than $3 trillion at recent prices.  Which of the following firms made this announcement and has since seen its share price rise +45%?

A.) StatoilHydro ADA (STO)
B.) Ensco International (ESV)
C.) Enerplus Resources Fund (ERF)
D.) BP PLC (BP)
E.) Petroleo Brasileiro (PBR)
 

20%-Plus REIT Yield
The housing market is struggling, but despite these troubles many commercial real estate investment trusts (REITs) and the funds that invest in them are flourishing. For instance, which of these REIT funds is offering a beefy 21.0% yield?

A.) Nuveen Real Estate Income Fund (JRS)
B.) Dividend Capital Realty Income Allocation Fund (DCA)
C.) LMP Real Estate Income Fund (RIT)
D.) ING Clarion Real Estate Income Fund (IIA)
E.) Cohen & Steers Premium Realty Fund (RPF)
 

Beat the Market with Buffett's Mentor
Over one tumultuous 30-year stretch that included the Great Depression, the Dow Jones Industrials Average returned only +224%. But Benjamin Graham, the father of value investing and Warren Buffett's mentor, handily beat the overall market and scored what total return for his clients during that period?

A.)  554%
B.)  789%
C.)  1,439%
D.)  4,659%
E.)  11,006%

+180% Returns Overseas
It has been said that when the U.S. sneezes, the rest of the world catches a cold -- but in today's global economy that isn't necessarily true. The S&P 500 had a lackluster 2007, delivering just +5.5% in total returns. But which country's market delivered an eye-popping +180% return in 2007?

A) India
B) China
C) Croatia
D) Argentina
E) Ukraine

Highest-Yielding ETF
By offering exposure to a broad basket of stocks, exchange-traded funds (ETFs) provide a higher level of safety than buying individual securities. But they can also offer stellar yields for income investors. What is the highest yield currently offered by an ETF? (Hint: the answer is seven times the S&P 500's average yield)

A.)  4.8%
B.)  6.1%
C.)  7.4%
D.)  8.3%
E.)  14.6%

Bank Dividends
Banks are typically some of the most prolific dividend payers around. Which bank (including its predecessors) has dished out annual dividends for 145 consecutive years -- with payments increasing every year for roughly the last 40?

A.)  U.S. Bancorp (USB)
B.)  Bank of America (BAC)
C.)  Barclays (BCS)
D.)  Wachovia (WB)
E.)  Wells Fargo (WFC)

Short Squeezes
Many poorly performing companies are subjected to intense short selling, but when sellers are wrong, the shares can skyrocket. Which stock saw its share price increase more than +3,200% in less than one year with help from a massive "short squeeze"?

A.) Dendreon Corp. (DNDN)
B.) Microsoft (MSFT)
C.) Southwest Airlines (LUV)
D.) TASER International (TASR)
E.) Acorn International (ATV)  

The Effect of Dividends
Imagine the S&P 500 was split up into five equal groups ranked solely in terms of yield: the 100 highest-yielding stocks in the first group, the next 100 in the second, etc. From 1957 to 2003, stocks in the highest-yielding group would have turned $10,000 into how much?

A.)  $4,627,500 
B.)  $746,220
C.)  $1,490,175
D.)  $3,844,945
E.)  $4,815,160 
 

The Oracle
In 1965, a young Warren Buffett took control of a struggling textile manufacturer named Berkshire Hathaway (NYSE: BRK-B), and used its excess cash flows to make shrewd investments. His success has been legendary -- of the last 43 years Buffett has spent with Berkshire, how many times has the company's stock outperformed the S&P 500 on a yearly basis?

A.)  22 Times
B.)  30 Times 
C.)  35 Times
D.)  37 Times
E.)  43 Times

Solar Power Gains
Relatively speaking, the solar power industry is a tiny sector. After all, solar power constitutes just 0.1% of U.S. electricity generation. But with high energy prices, alternative energy is becoming more widespread -- meaning astounding returns for alternative energy stocks. Which solar power stock booked a remarkable +795% increase in its share price in 2007?

A.)  Energy Conversion Devices (ESLR)
B.)  First Solar (FSLR)
C.)  DayStar (DSTI)
D.)  Suntech Power Holdings (STP)
E.)  Kyocera (KYO)

International Dividend Yields
With the average stock in the S&P 500 yielding a puny 2%, it's a crime not to investigate international markets in search of income investments. After all, yields abroad are much higher than those in the United States. Which country boasts the world's highest average yields, coming in at 7.3%?

A.)   Canada
B.)   Brazil
C.)   Japan
D.)   New Zealand
E.)   Germany

Follow the Yellow Brick Road
Which of these companies makes about a $500 margin on every ounce of gold it sells, giving it a better cost structure than 80% of firms in the industry?

A.)  Newmont Mining (NEM)
B.)  Barrick Gold (ABX)
C.)  Goldcorp Inc. (GG)
D.)  Kinross Gold CP (KGC)
E.)  AngloGold Ashanti (AU)

Utility Outperformer
Which utility ETF has beaten 99% of its peers in the utility category over the past three years and is currently trading at a double-digit discount?

A.)  DNP Sel. Income Fund Inc. (DNP)
B.)  UltraSort Util. ProShares (SDP)
C.)  WisdomTree International Utilities Sector Fund (DBU)
D.)  First Investors Value Fund (FIUTX)
E.)  Gabelli Global Utility & Income Trust (GLU)

October's Biggest Victim
October was a bad month for almost every investment. But which asset class suffered its worst month in October 2008 since 1956?

A.)  Commodities
B.)  Bonds
C.)  Stocks
D.)  Treasurys
E.)  Real Estate

A Dividend Grower Bucks the Trend
Cash may be hard to come by for nearly everyone these days, but there are still companies producing loads of cash -- and giving it to shareholders. Which of these companies recently announced a nearly +1,000% dividend increase even as the economy is slowing?

A.)  AK Steel (AKS)
B.)  Bank of America (BAC)
C.)  CenturyTel (CTL)
D.)  Caraustar Industries (CSAR)
E.)  Norfolk Southern (NSC)

Riding High in a Down Market
With some of the most dramatic sell-offs in stock market history -- reducing the S&P 500 by more than -25% since the beginning of September alone -- it's hard to imagine that any stock could be doing well right now. But which of these stocks hit a 52-week high amid the turmoil?

A.)  Treehouse Foods (THS)
B.)  Adams Golf, Inc. (ADGF)
C.)  Papa John's International (PZZA)
D.)  Ditech Networks, Inc. (DITC)
E.)  WebMD Health Corp. (WBMD)

A New Take on Liquidity
Which of the following funds tracks an index that has pumped a cumulative five-year gain of +204% by investing in water-based stocks?

A.)  SPDR FTSE Macquarie Infrastructure 100 (GII)
B.)  PowerShares Global Water Portfolio (PIO)
C.)  Claymore S&P Global Water Index ETF (CGW)
D.)  PFW Water Fund (PFWAX)
E.)  SAM Sustainable Water Fund (SMWNX)

The Biotech Stock that Delivered Gains of +9,000%
Investors have their pick of more than 500 publicly listed biotech companies, but many of those have no earnings, are bleeding cash and stand little chance of making real money for shareholders. However, which of these biotech stocks has bucked the trend and delivered an eye-popping gain of more than +9,000% in the last 10 years?

A.)  Celgene (CELG)
B.)  Biogen (BIIB)
C.)  BioMarin (BMRN)
D.)  Genzyme (GENZ)
E.)  PDL Biopharma (PDLI)

Frontier Gains of More than +200%
Many investors have never heard of this tiny little country of just 2 million people, but it's a nation of extraordinary natural resource wealth -- and its stock market is up more than +200% since the S&P hit its high on October 11, 2007. Which country is it?

A.)  Bhutan
B.)  Grenada
C.)  Mauritius
D.)  Seychelles
E.)  Namibia

+127.8% Gains and 11.9% Yields
Which country's market index has gained an astonishing +127.8% in the past five years and has an average dividend yield that is more than twice what economic powerhouse China has to offer?

A.)  Israel
B.)  United States
C.)  Australia
D.)  India
E.)  Morocco

The Tipping Point
Identifying a new market and being the first to introduce a product that captures it, is often the key to investment success. Which company's stock has risen more than +2,000% since the launch of its cutting-edge flagship product in October 2001, outpacing the Nasdaq's +70% gain and the S&P's +50% gain over that same time period?

A.)  Microsoft (MSFT)
B.)  Research in Motion (RIMM)
C.)  Apple (AAPL)
D.)  Cisco (CSCO)
E.)  Intel (INTC)

Cashing in on Bond Funds
There are lots of metrics for evaluating an income fund, but the single most important is how much cash it puts in your pocket. In the past year, which of these funds had the highest double-digit total return, and currently offers a yield of 9.3%?

A.)  Janus High-Yield Bond Fund (JAHYX)
B.)  MFS International Income Trust (MIN)
C.)  Eaton Vance Income Fund (EVIBX)
D.)  Baird Aggregate Bond Fund (BAGSX)
E.)  JPMorgan Core Bond Fund (PGBOX)

The +166% Energy Spike
Energy prices have been increasing for some time now. But over the last year, which energy commodity has seen the sharpest increase, spiking +166%? 

A.) Ethanol
B.) Crude oil 
C.) Coal
D.) Natural gas 
E.) Electricity

Gains of +50% or More
The downturn in the financial markets has meant that some types of stocks are now trading at fire-sale prices. Which group of stocks could generate gains in excess of +50% if they return to their average five-year earnings multiples?

A.) Tech
B.) Financials
C.) Energy
D.) Restaurants
E.) Retail
 

Africa-Sized Returns
Despite the gloom in the American economy, there are many other countries experiencing unprecedented growth. For instance, which African stock market index is up over +350% over the past five years?

A.) FTSE/JSE Africa Top 40 Index (South Africa)
B.) NSE 20 (Kenya)
C.) MASI Index (Morocco)
D.) Zimbabwe Industrial Index (Zimbabwe)
E.) GSE All-Share Index (Ghana)
 

Returns 48 Times Greater than U.S.
Energy prices have hit many consumers in the pocketbook, but have been a boon to investors in the right markets. Sitting on top of 1 trillion barrels of oil, which country saw its market return more than 48 times the S&P 500 from 1999 to 2007?

A.) Argentina
B.) Brazil
C.) Canada
D.) Denmark
E.) Estonia
 

Opportunity in India
India is one of the hottest markets on the planet -- returning +73% in 2007 alone -- and there is no easier way to gain access to this market than with a solid fund. Based on backtested data, which newly launched, low-cost fund would have returned +1,010% over the last ten years?

A. PowerShares India (PIN)
B. India Fund (IFN)
C. WT India Earnings Fund (EPI)
D. EV Greater India Fund (ETGIX)
E. MS India Investment Fund (IIF)
 

Expense Report
In the investment world, the term "expense ratio" refers to the fee per dollar invested that is paid for the fund's management. The average mutual fund charges an expense ratio of 1.50%, but what is the average expense ratio of an exchange-traded fund (ETF)? (HINT: It would save you 128% versus a mutual fund over 30 years.)

A.  0.43%
B.  0.60%
C.  0.82%
D.  1.21%
E.  1.40%
 

Currency Booster
Many fear the falling dollar, but it can actually help to significantly boost your overseas returns. Which country has seen the value of its stocks soar +518% for local investors since 2003 and an eye-popping +1,203% for U.S. investors -- thanks to the declining dollar?

A.) Australia
B.) France
C.) Columbia
D.) Japan
E.) Brazil
 

Profiting Hand Over Fist
With all the talk of monumental mortgage losses in 2007, it would be easy to assume it was a bad year for corporate earnings, but that wasn't the case for all companies. Which firm made a total annual profit of $40.6 billion ($1,300 per second) in 2007 -- the most ever for a U.S. company?

A.)  Wal-Mart (WMT)
B.)  ExxonMobil (XOM)
C.)  Royal Dutch Shell (RDS-B)
D.)  Microsoft (MSFT)
E.)  ConocoPhilips (COP)
 

Inside Edition
Most are familiar with the numerous scandals involving illegal insider trading, where those close to a company make millions, but ultimately pay an expensive price. According to well-known research, when insiders are legally buying more shares of their company than they are selling, what tends to happen to the share price over the next twelve months?

A.)  The shares outperform the market by +5%.
B.)  The shares outperform the market by +9%.
C.)  The shares tie the market in performance.
D.)  The shares underperform the market by -5%.
E.)  The shares underperform the market by -9%.
 

Dialing for Dividends
Telecoms generate stable cash flows that enable them to pay enormous dividends to investors, but recent research shows that the yields paid by foreign telecoms are significantly higher than domestic companies. For example, which foreign telecom sports a 9.5% yield and dominates its operating area with a 90% market share?

A.)   China Netcom Group (CN)
B.)   Telesp (TSP)
C.)   Mahanagar Tel. Nigam (MTE)
D.)   Millicom International (MICC)
E.)   KT Corp (KTC)
 

The Value Conundrum
Legendary value investor Bill Miller once noted that the greatest wealth-creating companies don't always trade at textbook value levels. For example, which company may not have appeared cheap at 35 times earnings in 1991 but has since returned around +4,000%?

A.)  Best Buy (BBY)
B.)  McDonalds (MCD)
C.)  IBM (IBM)
D.)  Apple (AAPL)
E.)  Microsoft (MSFT)
 

Market Correlation
In times of market turmoil, investors look for stocks that are least affected by a fall in the broader markets. Of all industry sectors, which has had the lowest correlation to the S&P 500 and returned an average of +25% from 2002 to 2007?

A.)  Consumer Staples
B.)  Airlines
C.)  Oil & Gas
D.)  Waste Management
E.)  Global Telecoms