FULL MICRO 0

You just got your first job at a big company. They offer to match the money you put in a retirement account. Which account is this?

• Health Savings Account
• IRA account
• Brokerage account
• 401(k) plan

You work for a non-profit hospital. Instead of a 401(k), what retirement savings plan will you likely be offered?

• 403(b) plan
• 401(k) plan
• Roth IRA
• Pension plan

You set up a retirement account on your own (not through an employer). Which account is this?

• 401(k) Plan
• Individual Retirement Account (IRA)
• Roth 401(k)
• Health Savings Account (HSA)

You want an account where contributions are tax-deductible now and withdrawals in retirement are taxed. Which do you choose?

• Traditional IRA
• Brokerage Account
• Health Savings Account
• Roth IRA

You want to pay taxes now but have tax-free withdrawals later. Which do you choose?

• Roth IRA
• Taxable Brokerage Account
• Health Savings Account
• Traditional IRA

You want to save money for your child’s education with tax benefits. Which account do you use?

• Roth IRA
• Traditional Savings Account
• 529 Plan

• Health Savings Account

You’re worried about future healthcare costs and want an account where contributions and growth are tax-free if used for medical expenses. What’s the account?

• Health Reimbursement Arrangement (HRA)
• Retirement Account (IRA)
• Health Savings Account (HSA)
• Flexible Spending Account (FSA)

You put $5,000 into a savings account that pays 2% interest. How much do you earn after one year (ignoring taxes)?

• $100
• $200
• $250
• $50

You lock $1,000 into a CD for 3 years at 4% interest. What happens if you withdraw after 1 year?

• You may incur an early withdrawal penalty and receive less than the full interest earned.
• Your principal amount will double after 1 year.
• You can withdraw without any fees after 1 year.
• You will receive the full interest earned without penalties.

You buy a U.S. Government Bond for $1,000 that matures in 10 years. What makes it safer than corporate bonds?

• Corporate bonds have higher interest rates than government bonds.
• U.S. Government Bonds are issued by private companies.
• Corporate bonds are guaranteed by insurance companies.
• U.S. Government Bonds are safer because they are backed by the U.S. government, reducing the risk of default.