College and Career Readiness Quiz

Which of the following best describes a 401(k) plan?

• A type of vacation policy

• An employer-sponsored retirement savings plan

• A health insurance program

• A brand of personal finance software

Which of the following are benefits of having health insurance?

• It covers the cost of hospitalization.

• It provides free gym membership.

• It protects from high unexpected healthcare costs.

• It guarantees a job promotion.

What is the term for a government system that provides financial assistance to people who are unable to work due to disability or old age?

• Disability Support

• Social Security

• Welfare Program

• Unemployment Insurance

How is net income calculated for a business?

• A) Revenue minus expenses

• B) Total assets minus total liabilities

• C) Gross income minus taxes

• D) Sales minus cost of goods sold

What does a typical vision insurance plan not cover?

• Eye exams

• Prescription glasses

• Contact lenses

• Cosmetic eye surgery

Which of the following best describes net income?

• A) Total earnings before any deductions

• B) Earnings after taxes and other deductions

• C) Revenue from sales or services

• D) Income from investments only

What information is typically found on a paycheck stub?

• Employee's full name and address

• Company's stock market value

• List of company's board members

• Upcoming company events

Which of the following are covered under Medicare?

• Hospital care

• Prescription drugs

• Dental services

• Employment benefits

Which of the following are benefits of having dental insurance?

• It can help reduce out-of-pocket costs for dental procedures.

• It is a form of health insurance designed for the care of the teeth.

• It can cover regular dental check-ups and cleanings.

• It is unnecessary for those who maintain good oral hygiene.

How is an individual's net worth calculated?

• A) By adding up all of their assets

• B) By subtracting their liabilities from their assets

• C) By multiplying their annual income by their age

• D) By estimating the value of their personal brand