retirement econ test

retirement econ test

Assessment

Quiz

Other

12th Grade

Easy

Created by

Emery Van Haelen

Used 5+ times

FREE Resource

Student preview

quiz-placeholder

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

what is an IRA

individual retirement account

international retirement account

IBS(aubree)

intellectual restoration account

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

what is a ROTH IRA

an account where you can get all your taxes paid on store items back

an account where you can set up your children with money

a tax advantaged retirement account where you pay taxes on contributions now, but withdrawals are tax free later

a savings account

3.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Benefits?

Age for withdrawal 59.5

Income- you can only contribute if you make under $146,000 single and under $230,000 married

Limit- 7,000 under 50- 8,000 over 50

You get free money when you open the account if all taxes are paid on time

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a ROTH 401k

a retirement savings plan where you pay taxes on contributions now, but withdrawals are tax-free later

a savings account you open once you turn 18 to start saving money as an adult.

a credit card you open once you start a business

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a match?

free money that your employer will offer you

something you can light a candle with

when you put so much money in an account that your bank will match that amount to pay you later

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the age and limit to withdraw from your 401k?

Age- 59.5 to withdraw

Limit- $23,500 under 50

Age- 69.5 to withdraw

Limit- $23,500 under 50

Age- 59.5 to withdraw

Limit- $27,500 under 50

Age- 29.5 to withdraw

Limit- $23,500 under 50

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When is pension offered

most of the time

one you hit the age of 60

once you hit the age of 25

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?