Question 1

At age 65, the life expectancy of a man is 7 years.

Accepted Answer

A) True 
 B)False

Question 2

Which one of the following expenditures for retirees is likely to decrease?

Accepted Answer

A)  food and medical care 
B)  federal income taxes 
C)  expenses for leisure activities 
D)  medical expenses 
E)  insurance 
A)  food and medical care 
B)  federal income taxes 
C)  expenses for leisure activities 
D)  medical expenses 
E)  insurance

Question 3

In reviewing your assets for retirement, you should increase premium payments by increasing the face value of your life insurance.

Accepted Answer

A) True 
 B)False

Question 4

Which housing alternative is preferred by most persons who are approaching retirement?

Accepted Answer

A)  house sharing 
B)  ECHO unit 
C)  accessory apartment 
D)  present home 
E)  boardinghouse/rooming house 
A)  house sharing 
B)  ECHO unit 
C)  accessory apartment 
D)  present home 
E)  boardinghouse/rooming house

Question 5

What types of housing options are available to retirees?

Accepted Answer

Staying in their present home, whether a

Question 6

Which one of the following expenditures for retirees is likely to decrease?

Accepted Answer

A)  food and medical care 
B)  clothing expenses 
C)  expenses for leisure activities 
D)  medical expenses 
E)  insurance 
A)  food and medical care 
B)  clothing expenses 
C)  expenses for leisure activities 
D)  medical expenses 
E)  insurance

Question 7

A housing alternative run by private businesses that provide seniors various combinations of accommodation, support services, and personal care is called __________________

Accepted Answer

A)  a retirement home 
B)  the Home Adaptations for Seniors' Independence Program 
C)  life lease housing 
D)  an adult lifestyle/retirement communities 
E)  the Residential Rehabilitation Assistance Program 
A)  a retirement home 
B)  the Home Adaptations for Seniors' Independence Program 
C)  life lease housing 
D)  an adult lifestyle/retirement communities 
E)  the Residential Rehabilitation Assistance Program

Question 8

Federal programs are the major source of public retirement pensions.

Accepted Answer

A) True 
 B)False

Question 9

Some retirement planning experts suggest that you start retirement planning while you are:

Accepted Answer

A)  in school. 
B)  in college. 
C)  in graduate school. 
D)  middle-aged. 
E)  still employed. 
A)  in school. 
B)  in college. 
C)  in graduate school. 
D)  middle-aged. 
E)  still employed.

Question 10

How can retirees avoid housing traps?

Accepted Answer

Retirees can avoid housing traps by writ

Question 11

A housing alternative for seniors in which a tenant is given the right to live in a dwelling unit in return for an upfront payment and monthly maintenance fees is called __________________

Accepted Answer

A)  a retirement home 
B)  the Home Adaptations for Seniors' Independence Program 
C)  life lease housing 
D)  an adult lifestyle/retirement communities 
E)  the Residential Rehabilitation Assistance Program 
A)  a retirement home 
B)  the Home Adaptations for Seniors' Independence Program 
C)  life lease housing 
D)  an adult lifestyle/retirement communities 
E)  the Residential Rehabilitation Assistance Program

Question 12

Even if it is a life annuity, payments cannot continue until death.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is not a public pension plan in Canada?

Accepted Answer

A)  CPP 
B)  QPP 
C)  OAS 
D)  RRSP 
E)  ETA 
A)  CPP 
B)  QPP 
C)  OAS 
D)  RRSP 
E)  ETA

Question 14

Which one(s) of the following is (are) misconceptions about retirement planning?

Accepted Answer

A)  My expenses will drop when I retire. 
B)  My retirement will last only 15 years. 
C)  I can depend on government benefits. 
D)  I can depend on my company pension. 
E)  My expenses will drop when I retire, my retirement will last only 15 years, I can depend on government benefits, and my company pension are misconceptions. 
A)  My expenses will drop when I retire. 
B)  My retirement will last only 15 years. 
C)  I can depend on government benefits. 
D)  I can depend on my company pension. 
E)  My expenses will drop when I retire, my retirement will last only 15 years, I can depend on government benefits, and my company pension are misconceptions.

Question 15

Staying in their present home is the alternative preferred by most of the persons who are approaching retirement.

Accepted Answer

A) True 
 B)False

Question 16

Which one of the following is a true statement about retirement planning?

Accepted Answer

A)  I should update my retirement plan periodically. 
B)  My pension benefits will increase to keep pace with inflation. 
C)  Saving just a little bit won't help. 
D)  My employer's health insurance plan will cover my medical expenses. 
E)  Medicare will cover my medical expenses. 
A)  I should update my retirement plan periodically. 
B)  My pension benefits will increase to keep pace with inflation. 
C)  Saving just a little bit won't help. 
D)  My employer's health insurance plan will cover my medical expenses. 
E)  Medicare will cover my medical expenses.

Question 17

When I retire, I can depend on the government and my company pension to pay for my basic living expenses.

Accepted Answer

A) True 
 B)False

Question 18

An employee whose pension has not vested will lose all contributions to her pension plan if she transfers to a new employer.

Accepted Answer

A) True 
 B)False

Question 19

Your retirement will last only about 15 years.

Accepted Answer

A) True 
 B)False

Question 20

You can get a reverse mortgage annuity if:

Accepted Answer

A)  you are at least 55 years old. 
B)  you are five years from retirement. 
C)  your mortgage is largely or completely paid off. 
D)  you are recently retired. 
E)  you need a loan. 
A)  you are at least 55 years old. 
B)  you are five years from retirement. 
C)  your mortgage is largely or completely paid off. 
D)  you are recently retired. 
E)  you need a loan.

At age 65, the life expectancy of a man is 7 years.

Which one of the following expenditures for retirees is likely to decrease?

In reviewing your assets for retirement, you should increase premium payments by increasing the face value of your life insurance.

Which housing alternative is preferred by most persons who are approaching retirement?

What types of housing options are available to retirees?

Which one of the following expenditures for retirees is likely to decrease?

A housing alternative run by private businesses that provide seniors various combinations of accommodation, support services, and personal care is called __________________

Federal programs are the major source of public retirement pensions.

Some retirement planning experts suggest that you start retirement planning while you are:

How can retirees avoid housing traps?

A housing alternative for seniors in which a tenant is given the right to live in a dwelling unit in return for an upfront payment and monthly maintenance fees is called __________________

Even if it is a life annuity, payments cannot continue until death.

Which of the following is not a public pension plan in Canada?

Which one(s) of the following is (are) misconceptions about retirement planning?

Staying in their present home is the alternative preferred by most of the persons who are approaching retirement.

Which one of the following is a true statement about retirement planning?

When I retire, I can depend on the government and my company pension to pay for my basic living expenses.

An employee whose pension has not vested will lose all contributions to her pension plan if she transfers to a new employer.

Your retirement will last only about 15 years.

You can get a reverse mortgage annuity if:

Personal Financial Planning: An Introduction

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

The Banking Services of Financial Institutions

Introduction to Consumer Credit

Choosing a Source Credit: the Costs of Credit Alternatives

The Finances of Housing

Home and Automobile Insurance

Life, Health, and Disability Insurance

Fundamentals of Investing

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Estate Planning

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Exam 14: Retirement Planning

At age 65, the life expectancy of a man is 7 years.

Which one of the following expenditures for retirees is likely to decrease?

In reviewing your assets for retirement, you should increase premium payments by increasing the face value of your life insurance.

Which housing alternative is preferred by most persons who are approaching retirement?

What types of housing options are available to retirees?

Which one of the following expenditures for retirees is likely to decrease?

A housing alternative run by private businesses that provide seniors various combinations of accommodation, support services, and personal care is called __________________

Federal programs are the major source of public retirement pensions.

Some retirement planning experts suggest that you start retirement planning while you are:

How can retirees avoid housing traps?

A housing alternative for seniors in which a tenant is given the right to live in a dwelling unit in return for an upfront payment and monthly maintenance fees is called __________________

Even if it is a life annuity, payments cannot continue until death.

Which of the following is not a public pension plan in Canada?

Which one(s) of the following is (are) misconceptions about retirement planning?

Staying in their present home is the alternative preferred by most of the persons who are approaching retirement.

Which one of the following is a true statement about retirement planning?

When I retire, I can depend on the government and my company pension to pay for my basic living expenses.

An employee whose pension has not vested will lose all contributions to her pension plan if she transfers to a new employer.

Your retirement will last only about 15 years.

You can get a reverse mortgage annuity if:

Personal Financial Planning: An Introduction

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

The Banking Services of Financial Institutions

Introduction to Consumer Credit

Choosing a Source Credit: the Costs of Credit Alternatives

The Finances of Housing

Home and Automobile Insurance

Life, Health, and Disability Insurance

Fundamentals of Investing

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Estate Planning

Filters