
Retirement and Estate Planning Concepts
Authored by Patrick Aiello
Social Studies
9th - 12th Grade
Used 7+ times

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38 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Employer-sponsored retirement plan that allows an individual to deposit part of his or her earnings into a tax-deferred investment.
401(k) Plan
403(b) Plan
457 Plan
Beneficiary
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Person or group who receives a deceased person’s assets.
401(k) Plan
403(b) Plan
457 Plan
Beneficiary
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Personal account for setting money aside for retirement.
Individual Retirement Account (IRA)
Living Will
Probate
Power of Attorney
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Statement of instructions for specific medical treatment if a person becomes unable to make medical decisions related to deathbed concerns.
Individual Retirement Account (IRA)
Living Will
Probate
Power of Attorney
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Legal process of settling the affairs of an estate, paying final expenses, and distributing the balance of money and property to beneficiaries.
Individual Retirement Account (IRA)
Living Will
Probate
Power of Attorney
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Legal document that gives a person the power to act for another person regarding financial and legal matters.
Individual Retirement Account (IRA)
Living Will
Probate
Power of Attorney
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Period of life after ending a working or professional career; can also be used to refer to the money a person has saved to be used during this period of life.
Retirement
Required Minimum Distribution (RMD)
Rollover
Roth 401(k)
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