WorksheetsABLE Accounts
Total questions: 9
Worksheet time: 5mins
What does ABLE stand for?
Acting Better for Life Expenses
Achieve a Better Life Experience
A Bank for Life Expenses
Awesome Banking for Life Experiences
Finish the Sentence: The ABLE act allows eligible people with disabilities to save and invest money to pay for...
Qualified Disability Expenses
Qualified Diagnostic Testing
An Xbox
Qualified Disability Experiences
True or False: An individual's government benefits are NOT affected unless the account exceeds $100,000.
True
False
Which individual is NOT eligible for an ABLE account?
A person with ID who receives SSI benefits.
A person with autism who is eligible for SSI.
A person with a mobility impairment who receives SSDI.
A person who was diagnosed with autism at age 28.
Which expense(s) can be considered a Qualifying Disability Expense?
PlayStation
Rent
Peloton Bike
Job Coach
Which is NOT an investment option with IL ABLE?
Aggressive
Growth
Moderately Conservative
Mildly Aggressive
True or False: A benefit to opening an ABLE Account is that you can rollover a 529 College Savings Account.
True
False
How can you open an ABLE Account (check all that apply)?
Online
Over the phone
Via Email
Via Mail
What information is needed to open your child's ABLE Account (check all that apply)?
First/Last Name
Birthdate
Social Security Number or Taxpayer ID
Their employment information
