Retirement Accounts

Retirement Accounts

12th Grade

18 Qs

quiz-placeholder

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Retirement Accounts

Retirement Accounts

Assessment

Quiz

Mathematics

12th Grade

Practice Problem

Easy

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18 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

You are 42 and you want to buy a car that is cash only It is $12,000. You take the money out of your Traditional IRA. How much is the tax if you are in the 22% tax bracket?

Use the $ with no space in your answer. Example: $2500 .

if it is zero say $0.

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

You should start saving for retirement

When you get married

When you get your first job

When you reach age 50

When you reach age 65

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

You are 53 and you need to pay for a surgery. It is $15,500. You take the money out of your Roth IRA. How much is the penalty?

Use the $ with no space in your answer. Example: $2500 .

if it is zero say $0.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these accounts do you set up at a brokerage firm or other financial institution?

401K

Pension

Individual Retirement Account

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

At what age are you required to start taking minimum withdrawals from retirement accounts (401k, IRA, 403b)?

51.5

59.5

62.5

73

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

You are 53 and you need to pay for a surgery. It is $15,500. You take the money out of your Roth IRA. How much is the tax if you are in the 22% tax bracket?

Use the $ with no space in your answer. Example: $2500 .

if it is zero say $0.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of account will your employer often "match" your contributions?

Traditional IRA

401K

Roth IRA

Pension

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