You get the same rewards, whether or not you answer the quiz questions correctly.
Here is a list of the questions and answers I've gotten so far, copied from the Event page "My Answer Sheet" which literally tells you all the questions and answers you've gotten so far.
- Q. The Awakened version of Fire Dragon is called, "T-rex".
- False (X). The Awakened version of Fire Dragon is called, Zaiross.
- Q. Monster Imp can be Awakened to Imp Champion.
- False (X). Imp and Imp Champion are two different Monsters!
- Q. All Runes can be Powered-up up to +12.
- False (X). All Runes can be Powered-up up to +15.
- You might notice this question suffers from what I assume is a translation error. They meant to say "only up to +12."
- Q. The Awakened version of Light Barbaric King is called, "Mimirr".
- True (O). The Awakened version of Light Barbaric King is called, "Mimirr".
- Q. A winning buff is activated when you win in the Arena consecutively, and the buff will stack up until you reach 5 Consecutive Wins.
- False (X). The buff stacks up until you reach 10 Consecutive Wins.
- Q. The Monster with the lowest Attack Speed gets the first turn when the battle starts.
- False (X). The Monster with the highest Attack Speed gets the first turn.
I realize now this would make much more sense as a wiki article, so that everyone can add to the list, since presumably we all receive questions at random instead of in the same order. So, please mosey on over to the Quiz page and contribute! :)