Question 1

For most people,there is really no reason to save for retirement since Social Security will provide retirement benefits until you die.

Accepted Answer

A) True 
 B)False

Question 2

In 2017,a worker received 1 Social Security credit for every ________ dollars in earnings?

Accepted Answer

A) $1 
B) $1,000 
C) $1,300 
D) $1,500 
A) $1 
B) $1,000 
C) $1,300 
D) $1,500

Question 3

Retirement income comes from which of the following sources?

Accepted Answer

A) Social Security 
B) Pensions 
C) Asset income 
D) Earnings 
E) All of the above 
A) Social Security 
B) Pensions 
C) Asset income 
D) Earnings 
E) All of the above

Question 4

Contributions to Roth IRAs are tax deductible.

Accepted Answer

A) True 
 B)False

Question 5

With an IRA your investment choices include stocks,bonds,mutual funds,CDs and real estate.

Accepted Answer

A) True 
 B)False

Question 6

Today,the typical American worker will receive a defined-benefit retirement plan from their employer.

Accepted Answer

A) True 
 B)False

Question 7

If you estimate you will need $70,000 of after-tax income in retirement and your tax rate is 19%,how much will you need?

Accepted Answer

A) $56,700 
B) $70,000 
C) $86,420 
D) $76,923 
A) $56,700 
B) $70,000 
C) $86,420 
D) $76,923

Question 8

You should take advantage of any matching your company is willing to do for your 401(k).

Accepted Answer

A) True 
 B)False

Question 9

A 'self-directed' retirement plan is one in which a plan administrator determines how much your contributions will be and what investment options you will have available.

Accepted Answer

A) True 
 B)False

Question 10

Under a single life annuity,you receive a set monthly payment for the rest of your life.

Accepted Answer

A) True 
 B)False

Question 11

With a traditional IRA and a Roth IRA,you can make withdrawals at any time with no penalties.

Accepted Answer

A) True 
 B)False

Question 12

What does the term 'self directed' mean concerning retirement accounts?

Accepted Answer

The term self directed means that the in

Question 13

What investment goals should a person have when determining where to put their 401k monies in their account?

Accepted Answer

For the younger workers under the age of

Question 14

A defined benefit retirement plan is also known as a/an

Accepted Answer

A) 401 (k)plan. 
B) pension plan. 
C) 403(b)plan. 
D) IRA. 
A) 401 (k)plan. 
B) pension plan. 
C) 403(b)plan. 
D) IRA.

Question 15

If you have a defined-benefit retirement plan through your place of employment,you are considered a(n)________;and as such,there is an income limit after which your IRA contributions are no longer tax deductible.

Accepted Answer

A) restricted participant 
B) deactivated participant 
C) active participant 
D) All of the above are correct. 
E) Only A and C are correct. 
A) restricted participant 
B) deactivated participant 
C) active participant 
D) All of the above are correct. 
E) Only A and C are correct.

Question 16

Alex works for a company with a 401(k)plan.He currently earns $80,000 in gross salary and contributes 8% of his gross salary into his 401(k)account.If his marginal tax rate is 33%,how much income tax liability is he saving by participating in his 401(k)?

Accepted Answer

A) $6,400 
B) $2,112 
C) $6,000 
D) $16,800 
A) $6,400 
B) $2,112 
C) $6,000 
D) $16,800

Question 17

Vanguard and Fidelity are two low-cost mutual fund families that offer Roth IRAs.Stick to them or another mutual fund family that features low costs and expenses.

Accepted Answer

A) True 
 B)False

Question 18

Annuity payments will adjust for inflation over the years of retirement.

Accepted Answer

A) True 
 B)False

For most people,there is really no reason to save for retirement since Social Security will provide retirement benefits until you die.

In 2017,a worker received 1 Social Security credit for every ________ dollars in earnings?

Retirement income comes from which of the following sources?

Contributions to Roth IRAs are tax deductible.

With an IRA your investment choices include stocks,bonds,mutual funds,CDs and real estate.

Today,the typical American worker will receive a defined-benefit retirement plan from their employer.

If you estimate you will need $70,000 of after-tax income in retirement and your tax rate is 19%,how much will you need?

You should take advantage of any matching your company is willing to do for your 401(k).

A 'self-directed' retirement plan is one in which a plan administrator determines how much your contributions will be and what investment options you will have available.

Under a single life annuity,you receive a set monthly payment for the rest of your life.

With a traditional IRA and a Roth IRA,you can make withdrawals at any time with no penalties.

What does the term 'self directed' mean concerning retirement accounts?

What investment goals should a person have when determining where to put their 401k monies in their account?

A defined benefit retirement plan is also known as a/an

If you have a defined-benefit retirement plan through your place of employment,you are considered a(n)________;and as such,there is an income limit after which your IRA contributions are no longer tax deductible.

Alex works for a company with a 401(k)plan.He currently earns $80,000 in gross salary and contributes 8% of his gross salary into his 401(k)account.If his marginal tax rate is 33%,how much income tax liability is he saving by participating in his 401(k)?

Vanguard and Fidelity are two low-cost mutual fund families that offer Roth IRAs.Stick to them or another mutual fund family that features low costs and expenses.

Annuity payments will adjust for inflation over the years of retirement.

The Financial Planning Process

Measuring Your Financial Health and Making a Plan

Understanding and Appreciating the Time Value of Money

Tax Planning and Strategies

Cash or Liquid Asset Management

Using Credit Cards: the Role of Open Credit

Student and Consumer Loans: the Role of Planned Borrowing

The Home and Automobile Decision

Life and Health Insurance

Property and Liability Insurance

Investment Basics

Investing in Stocks

Investing in Bonds and Other Alternatives

Mutual Funds: an Easy Way to Diversify

Estate Planning: Saving Your Heirs Money and Headaches

Financial Life Eventsfitting the Pieces Together

Filters

Exam 15: Retirement Planning

For most people,there is really no reason to save for retirement since Social Security will provide retirement benefits until you die.

In 2017,a worker received 1 Social Security credit for every ________ dollars in earnings?

Retirement income comes from which of the following sources?

Contributions to Roth IRAs are tax deductible.

With an IRA your investment choices include stocks,bonds,mutual funds,CDs and real estate.

Today,the typical American worker will receive a defined-benefit retirement plan from their employer.

If you estimate you will need $70,000 of after-tax income in retirement and your tax rate is 19%,how much will you need?

You should take advantage of any matching your company is willing to do for your 401(k).

A 'self-directed' retirement plan is one in which a plan administrator determines how much your contributions will be and what investment options you will have available.

Under a single life annuity,you receive a set monthly payment for the rest of your life.

With a traditional IRA and a Roth IRA,you can make withdrawals at any time with no penalties.

What does the term 'self directed' mean concerning retirement accounts?

What investment goals should a person have when determining where to put their 401k monies in their account?

A defined benefit retirement plan is also known as a/an

If you have a defined-benefit retirement plan through your place of employment,you are considered a(n)________;and as such,there is an income limit after which your IRA contributions are no longer tax deductible.

Alex works for a company with a 401(k)plan.He currently earns $80,000 in gross salary and contributes 8% of his gross salary into his 401(k)account.If his marginal tax rate is 33%,how much income tax liability is he saving by participating in his 401(k)?

Vanguard and Fidelity are two low-cost mutual fund families that offer Roth IRAs.Stick to them or another mutual fund family that features low costs and expenses.

Annuity payments will adjust for inflation over the years of retirement.

The Financial Planning Process

Measuring Your Financial Health and Making a Plan

Understanding and Appreciating the Time Value of Money

Tax Planning and Strategies

Cash or Liquid Asset Management

Using Credit Cards: the Role of Open Credit

Student and Consumer Loans: the Role of Planned Borrowing

The Home and Automobile Decision

Life and Health Insurance

Property and Liability Insurance

Investment Basics

Investing in Stocks

Investing in Bonds and Other Alternatives

Mutual Funds: an Easy Way to Diversify

Estate Planning: Saving Your Heirs Money and Headaches

Financial Life Eventsfitting the Pieces Together

Filters