An investment account where a person saves a portion of income for retirement. Not employer sponsored.

U3L7 HW Finance

Quiz
•
Business
•
9th - 12th Grade
•
Medium
Darek Tillman
Used 4+ times
FREE Resource
22 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Social Security
401k
Mutual Fund
IRA
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
The potential for loss when investing
Capital Gain
Risk
Return
Capital Loss
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Spreading your assets among several different types of investments
Will
Risk
Diversification
Allocation
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Investment where investors pool their money together to buy stock, bond, and other securities
Mutual Fund
Bond
Common Stock
Diversification
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Employer sponsored retirement savings plan funded by a portion of your salary
401k
Traditional IRA
Mutual Fund
Annuity
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Select the best definition of an IRA.
a) An IRA is a tax-advantaged investing tool set up by individuals for retirement savings
b) An IRA is a retirement plan offered to you by your employer
c) An IRA is an investment type with a fixed rate of return
d) An IRA is a retirement savings plan that guarantees a fixed rate of return
a
b
c
d
7.
MULTIPLE SELECT QUESTION
15 mins • 1 pt
Select all of the statements that are a true characteristic of a Traditional IRA. (hint: choose 2 correct answers)
a) Any money you save into a Traditional IRA is tax deductible
b) There is no limit on the amount of money you can contribute to a Traditional IRA
c) You are taxed on the money in your Traditional IRA when you withdraw it in retirement (it is taxed as ordinary income)
d) You never have to pay taxes when contributing money to a Traditional IRA
a
b
c
d
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