Retirement Planning Quiz

Quiz
•
Social Studies
•
12th Grade
•
Easy
A Blanco
Used 28+ times
FREE Resource
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many months of living expenses should a fully funded emergency fund cover according to the "Steps to Financial Security"?
1-2 months
3-6 months
7-9 months
10-12 months
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Once the emergency fund is fully funded, what percentage of your income should you invest in retirement plans?
3-6%
15-20%
25-30%
10-15%
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a type of retirement plan?
401k
529
HSA
CD
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
SEPP is an acronym for which of the following retirement plans?
Simplified Employee Pension Plan
Standardized Earnings Protection Plan
Secure Employment Provision Program
Simplified Equity Participation Plan
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is eligible to start a retirement plan according to the information provided?
Only people under the age of 50
Only people over the age of 18
Only non-income earning spouses
Anyone with an earned income regardless of age
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Can a non-income earning spouse contribute to a retirement plan, and if so, how much?
No, they cannot contribute
Yes, the same amount as the income earner
Yes, half the amount of the income earner
Yes, but only $1,000 per year
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of plan is a Roth IRA?
Pre-tax plan
After-tax plan
Big-tax plan
Taxable plan
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