Personal Finance Review

Personal Finance Review

12th Grade

20 Qs

quiz-placeholder

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Personal Finance Review

Personal Finance Review

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Mary Maddox

Used 86+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Who contributes to 401K’s?

employees and employers

parents

the government

no one

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Risk can be defined as

the potential for good fortune

the potential for profit

the potential for loss

the potential for gain

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What happens if you withdraw money from your retirement account early?

amount withdrawn will be taxed at your current income tax rate & you may pay a penalty-

nothing will happen

you loose interest

you loose your investment

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is the best type of investment for someone nearing retirement?

stocks

mutual funds

bonds

real estate

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Who contributes to IRA’s?

individuals only

employers only

the government

individuals and employers

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Although banks typically pay low interest rates, you can earn more money from a bank if you put money into

an interest-baring checking account

a savings account

a CD (certificate of deposit)

skip the bank & put the money under the matress

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

When is the best time to start planning for your retirement?

as early as possible & by your early 20s

as late as possible & close to the retirement party

in your 40s after you have all the children you plan to have

in your 60's when you start keeping your grandchildren

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