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Welcome to The Globe and Mail’s brand new business and investing news quiz. Each week, join us to test your knowledge of the stories making the headlines. Our business reporters come up with the questions, and you can show us what you know.

Take our quiz below to test your recall for the week ending June 23.

1 What is the lowest available insured variable mortgage rate this week?
a. 4.79
b. 5.19
c. 5.65
d. 6.15

c. 5.65 per cent. The lowest nationally available insured variable-rate mortgage as of June 15 was 5.65 from Nesto, according to columnist Robert McLister. Meanwhile, HSBC offered a 6.15 rate for uninsured variable-rate mortgages.

2 Statistics Canada this week rebalanced the weighting it gives different types of goods in the calculation it uses for inflation. Which two categories were given more prominence?
a. Food and gasoline
b. Food and shelter
c. Cars and shelter
d. Mortgage interest and gasoline

a. Food and gasoline prices. Canada’s national statistics agency gave the cost of food and gas more prominence in its Consumer Price Index calculations. Statscan says the changes will be reflected in the next inflation report, due out June 27.

3 The parent company of Canada Bread pleaded guilty to a criminal scheme to fix the price of bread and will pay the largest price-fixing fine in the country’s history. How much will they pay as a settlement?
a. $50-million
b. $500-million
c. $25-million
d. $15-million

a. $50-million. Canada Bread’s parent company Grupo Bimbo announced it resolved the Competition Bureau’s investigation into the alleged price-fixing scheme. The company acknowledged they made “arrangements” with one or more unnamed senior executives at competitor Weston Foods, which led to two wholesale price increases in 2007 and 2011.

4 Canadian retail spending picked up in April, despite efforts by the Bank of Canada to slow consumption using higher interest rates. Which category did not see a spike in spending?
a. Clothing stores
b. Food and beverage retailers
c. Home goods or furniture stores
d. Motor vehicle and parts dealers

c. Home goods or furniture stores. Statscan’s report showed a broad-based increase in retail spending. There was, however, a decline at stores catering to the housing market.

5 Which bank has been ordered by Canada’s banking regulator to fix problems related to its mortgage portfolio and lending practices?
a. BMO
b. Scotiabank
c. TD

d. CIBC. The bank has been under remediation orders from Canada’s banking regulator for more than a year after an audit of its mortgage portfolio uncovered breaches of rules that limit how indebted borrowers can be, sources say.

6 Accounting bodies of two provinces announced this week they will leave the national Chartered Professional Accountant association. They are:
a. Ontario and British Columbia
b. Alberta and Quebec
c. Alberta and Ontario
d. Ontario and Quebec

d. Ontario and Quebec. The Quebec CPA Order and CPA Ontario separately announced they will end their formal relationship with the Chartered Professional Accountants of Canada. The national organization said it was “disappointed and shocked” by the unilateral exit by Ontario and Quebec.

7 Larry Tanenbaum plans to sell a stake in MLSE, the parent company of the Toronto Maple Leafs and the Toronto Raptors, to pension plan OMERS. What’s the pricetag?
a. $100-million
b. $200-million
c. $400-million
d. $900-million

d. $400-million. Toronto sports czar Larry Tanenbaum plans to sell a stake in the parent company of hockey’s Toronto Maple Leafs and basketball’s Toronto Raptors to the Ontario Municipal Employees Retirement System pension plan for $400-million, a transaction that values the sports business at $8-billion.

8 OAS and CPP are both retirement benefits. What is a key difference between the programs?
a. OAS is based on how long you’ve lived in Canada, while CPP is based on your employment history
b. CPP starts at 50; OAS starts at 70
c. CPP applies to public-sector workers; OAS applies to private-sector workers
d. There is no difference; both are available to all Canadians in retirement

d. The biggest and most important distinction is the basic requirement to qualify. OAS is based on your residency, while CPP is based on your employment history. It’s possible to qualify for one or the other, or neither, or both.

9What is the asking price for this house?

The house sits on a mountaintop 500 feet above sea level in British Columbia’s Gulf Islands on 52 acres of forested land. The panoramic views from inside the house take in the Gulf Islands and the water to the south, while the natural landscape surrounds the house to the north.

The 2,829-square-foot house features three bedrooms, concrete floors and white walls. There’s also a separate guest cottage with 661 square feet of living space.
a. $2,395,000
b. $4,495,000
c. $5,595,000
d. $5,995,000

d. The asking price for this house is $4,495,000.

How well did you do?

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