The North American Securities Administrators Association and the Canadian Securities Administrators have published an interactive quiz designed to test investors’ knowledge of investment fraud and to encourage them to watch out for warning signs.

The Investment Fraud Awareness Quiz is available on the NASAA website, www.nasaa.org, as part of annual investor outreach initiatives held in April across North America.

The CSA said the 12-question quiz takes about 10 minutes to complete and a score and results are generated immediately. Questions cover topics such as investment risk, fraudulent products, how to deal with a securities salesperson and the role of government securities regulators. A compilation of the overall results of the quiz will be published later.

“We want to give investors the tools they need to protect themselves,” Stephen Sibold, chair of the CSA, said in a statement. “This quiz not only tests investors’ current knowledge of scams and frauds, but is designed in such a way as to increase their financial literacy at the same time.”

“Billions are lost to investment fraud every year,” Christine Bruenn, president of NASAA, added. “From the Yukon Territory to Miami, con artists don’t discriminate – they target men, women, the elderly and minorities. Investors need to be aware of the warning signs for fraud, where to turn for information and what protections they have.”