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Retirement Planning

Total questions: 116

Worksheet time: 1hrs 15mins

Name
Class
Date
1.

Choose one of elements in purchasing or building house.

a)

Attaining the age of 50 years old.

b)

Estimate the inflation factor.

c)

To buy a residential house.

d)

Settling the balance of member's housing loan.

2.

Education levels allowed is a member or member's child must undertake a course at the diploma, advanced diploma, bachelor' degree, master's degree, Doctor of Philosophy or equivalent level.

a)

True

b)

False

3.

Sources of funds come from employers only.

a)

True

b)

False

4.

Below are the examples of institutions for provident funds.

a)

Teachers Provident Fund

b)

SOCSO

c)

Tabung Angkatan Tentera

d)

EPF

e)

All the above

5.

Contribution to EPF is not a mandatory contribution.

a)

True

b)

False

6.

For Account II, members are allowed to withdraw for the purposes of all the above EXCEPT?

a)

To own a house/to build a first house

b)

To finance member’s children tertiary education

c)

To settling member’s parents medical expenses

d)

To make early preparations for retirement

7.

Pensionable employee is those who are working in the public sector.

a)

True

b)

False

8.

In Retirement withdrawal, an EPF member can withdraw their savings in a lump sum when they reach the age of 50 years old.

a)

True

b)

False

9.

When planning for retirement, you need to determine

a)

how much money you need to live in a nursing home or retirement center.

b)

how much money you want your children to inherit.

c)

how much money you will need and how many years you will need it.

d)

where you plan to live after you quit working.

10.

As a young person, saving for your retirement is an example of a ________________ goal.

a)

short-term

b)

medium-term

c)

value-added

d)

long-term

11.

If your company has a retirement plan,

a)

you can wait until you are in your 40s to start participating without any costs.

b)

you should sign up as soon as possible so your investment will start growing.

c)

. only people who plan on retiring early need to participate in the company plan.

d)

you should wait until your bills are paid before saving money for retirement.

12.

An Action of withdrawal from one's position of occupation or from active working life

a)

Career

b)

Trustee

c)

Retirement

d)

Living Trust

13.

An Action of withdrawal from one's position of occupation or from active working life

a)

Career

b)

Trustee

c)

Retirement

d)

Living Trust

14.

Federal insurance program which provides benefits to retired individuals or those who are unemployed or disabled

a)

Pension

b)

Social Security

c)

401k

d)

Certification of Deposit (CD)

15.

A loan available to homeowners 62 years or older, allowing them to convert part of the equity in their homes into cash.

a)

Pension

b)

Living Trust

c)

Probate

d)

Reverse Morgage

16.

Defined benefit plan which allows qualified workers to receive benefits when he/she retires

a)

Stock

b)

Retirement

c)

Pension

d)

401K

17.

One who had died leaving a testament or will

a)

Testator

b)

Executor

c)

Inheritance

d)

Guardian

18.

Party named by the testator to carry out the terms of the will

a)

Inheritance

b)

Guardian

c)

Decendent

d)

Executor

19.

Collection of preparatory tasks which serve to manage an individual's assets in the event of their incapacitation or death

a)

Will

b)

Estate Planning

c)

Durable Power of Attorney

d)

Living Will

20.

Process used to make an orderly distribution of property from a decedent to a group of beneficiaries

a)

Trust

b)

Living Will

c)

Probate

d)

Grantor

21.

Agreement describing how assets will be managed and held from the benefit of another person

a)

Decendent

b)

Grantor

c)

Guardian

d)

Trust

22.

Person who creates the trust and had the legal capacity to transfer property held under the trust

a)

Trustee

b)

Executor

c)

Beneficiary

d)

Grantor

23.

Usually created by the grantor during his/her lifetime through a transfer of property to a trustee

a)

Living Trust

b)

Guardian

c)

Revocable Trust

d)

Will

24.

Written document which specifies what types of medical treatment are desired should an individual become incapacitated

a)

Durable Power of Attorney

b)

Trustee

c)

Medical Directive

d)

Living Will

25.

Allows an individual to execute legal documents which provide the power of attorney to others in case of an incapacitating medical condition

a)

Durable Power of Attorney

b)

Medical Directive

c)

health-Care Proxy

d)

De Facto Custodian

26.

Legal document in which the drafter outlines what to do with their property after their death

a)

Health-Care Proxy

b)

Trust

c)

Will

d)

Revocable Trust

27.

Any legal individual or corporation who can take title of property on behalf of the beneficiary

a)

Grantor

b)

Testator

c)

Trustee

d)

Decedent

28.

Choose one of elements in purchasing or building house.

a)

Attaining the age of 50 years old.

b)

Estimate the inflation factor.

c)

To buy a residential house.

d)

Settling the balance of member's housing loan.

29.

Education levels allowed is a member or member's child must undertake a course at the diploma, advanced diploma, bachelor' degree, master's degree, Doctor of Philosophy or equivalent level.

a)

True

b)

False

30.

Sources of funds come from employers only.

a)

True

b)

False

31.

Below are the examples of institutions for provident funds.

a)

Teachers Provident Fund

b)

SOCSO

c)

Tabung Angkatan Tentera

d)

EPF

e)

All the above

32.

Contribution to EPF is not a mandatory contribution.

a)

True

b)

False

33.

For Account II, members are allowed to withdraw for the purposes of all the above EXCEPT?

a)

To own a house/to build a first house

b)

To finance member’s children tertiary education

c)

To settling member’s parents medical expenses

d)

To make early preparations for retirement

34.

Pensionable employee is those who are working in the public sector.

a)

True

b)

False

35.

In Retirement withdrawal, an EPF member can withdraw their savings in a lump sum when they reach the age of 50 years old.

a)

True

b)

False

36.

This is an example of a "Financial Goal"

a)

Graduating from college

b)

Becoming a teacher

c)

Learning to play an instrument

d)

Purchasing a new home

37.

Choose the "Unexpected Expense"

a)

Groceries each week

b)

Storm damage repairs

c)

School clothes

d)

Netflix subscription bill

38.

What does a person's will list?

a)

Financial goals

b)

Types of insurance they have

c)

Retirement plans

d)

Financial plan upon death

39.

What is "Earned Income"?

a)

A birthday gift

b)

Winning the lottery

c)

Unemployment compensation

d)

Salary

40.

How do taxes affect your financial plans?

a)

They create higher interest rates

b)

They affect how much money you actually have to spend

c)

They make your saving account increase

d)

They affect the GDP

41.

What are Social Security taxes used for?

a)

Building schools

b)

Unemployment compensation

c)

Income for retired and disabled people

d)

Transfer payment

42.

What is a tax bracket?

a)

The rate at which income is taxed

b)

The rate of sales tax in a state

c)

The form used to file taxes

d)

The way taxes are calculated

43.

What type of information is included on a 1040 form?

a)

Your financial projection

b)

A list of all expenses

c)

Gross and net income from last year

d)

Your bank statement from last year

44.

Choose the "Fixed Expense".

a)

Mortgage payment

b)

Groceries

c)

Electric bill

d)

Clothing

45.

What is true about "Needs"?

a)

They are items such as an expensive vehicle

b)

They are also called "Non-discretionary" expenses

c)

They are also called "Discretionary" expenses

d)

They are usually fun to pay for

46.

Which is a feature of a desk-top computer?

a)

Portable

b)

Memory size

c)

Color

d)

It's small

47.

Which is a "Long-term Financial Goal"?

a)

Buying gifts for your friends

b)

Going in vacation to Pennsylvania

c)

Retirement

d)

College

48.

Define a "Financial Reserve"

a)

An amount of money set aside to reach long-term goals

b)

An amount of money set aside in case of accidents, damages or health issues

c)

Money you should use to purchase a new car

d)

Money set aside to pay for gasoline

49.

Which of the following is a "Variable Expense"?

a)

Subscriptions

b)

Groceries

c)

Rent

d)

Car payment

50.

A "Financial Resource" includes

a)

Antiques

b)

Debt

c)

A Loan from a friend

d)

Your parents

51.

The issuer of a bond is:

a)

the lender

b)

the borrower

c)

a stock security

d)

a quality bond rating

52.

Bond prices move at an inverse relationship to:

a)

interest rates

b)

the maturity date

c)

the bond issuer

d)

the economy

53.

One unappealing aspect of bonds for investors is:

a)

the bond rating

b)

the risk of default

c)

the maturity date

d)

the secondary market

54.

A type of security that represents equity ownership in a company, and includes voting rights, is called:

a)

common stock

b)

a government bond

c)

preferred stock

d)

a zero-coupon bond

55.

Companies sell common stock to investors to raise money in order to:

a)

pay interest

b)

pay dividends

c)

issue shares

d)

fund its operations

56.

The NYSE and Nasdaq are examples of:

a)

maturity dates

b)

bond ratings

c)

bond portfolios

d)

stock exchanges

57.

When a company earns a profit a decides to distribute some of the profits to stockholders, they are paying:

a)

interest

b)

a dividend

c)

a coupon

d)

a par value

58.

Which investment is generally considered to be more volatile and risky?

a)

bonds

b)

preferred stock

c)

CD

d)

common stock

59.

Darrell wanted to start investing money monthly but wanted to manage his risk by investing in many assets, versus just one. Darrell's investment strategy includes:

a)

diversification

b)

a prospectus

c)

an online broker

d)

research

60.

A professionally managed pool of investments including stocks and bonds and other assets is called:

a)

a mutual fund

b)

a government bond

c)

a treasury bond

d)

an online brokerage account

61.

A 401(k) is also called:

a)

a pension plan

b)

a defined benefit plan

c)

social security

d)

a defined contribution plan

62.

A pension plan is also called:

a)

a defined contribution plan

b)

a defined benefit plan

c)

social security

d)

a 401(k) plan

63.

Creating a plan for retirement to meet desired future income goals, and allocating and investing the financial resources necessary to achieve the plan is called:

a)

retirement planning

b)

asset allocation

c)

a defined benefit plan

d)

vesting

64.

What type of retirement plan will some employers contribute matching funds towards?

a)

a pension plan

b)

a deferred compensation plan

c)

a 401(k) plan

d)

a bonus plan

65.

A source of income provided by the federal government when you retire, primarily based on your total earnings throughout your career and your age when you start receiving benefit payments, is called:

a)

social security

b)

retirement planning

c)

a 401(k)

d)

asset allocation

66.

What is a vesting period?

a)

the period of time it takes for shares in an employer retirement plan to be owned fully by the employee

b)

the period of time you have been investing for

c)

the period of time you hold a stock before selling it

d)

the period of time it takes a brokerage firm to complete a trade

67.

Interest-bearing securities, also called fixed-income securities, where the investor is the lender, and the borrower is usually a corporation or government, are called:

a)

bonds

b)

stocks

c)

coupon

d)

equity

68.
It is best to buy a Stock when the price is high.
a)
True
b)
False
69.
You should start saving for retirement
a)
When you get married
b)
When you get your first job
c)
When you reach age 50
d)
When you reach age 65
70.
The higher the risk the, _______ the reward
a)
Higher
b)
Lower
c)
There is no relationship between risk and reward
d)
All of the above
71.
The lower the risk, the ______ the reward
a)
Higher
b)
Lower
c)
There is no relationship between risk and reward
d)
All of the above
72.
When society is experiencing inflation,
a)
Prices are higher
b)
Prices are lower
c)
Prices stay the same
d)
All of the above
73.
When the demand for a product increases, the price of the product will:
a)
Increase
b)
Decrease
c)
Stay the same
d)
There is no relationship between supply and demand
74.
Which of the following investments would carry the most risk?
a)
Checking account
b)
Savings account
c)
Savings bond
d)
Stock Market
75.
When you diversify your investments it means you
a)
You put your money in one place
b)
You give all your money away
c)
You don’t save any money
d)
You put your money into many different types of investments
76.
Knowing how much you need to save, Having a plan, and setting goals are the keys to...
a)
The Stock Market
b)
Starting your own business
c)
Financial Security
d)
Applying for a credit card
77.
Which of the following are ways to save money?
a)
A savings account
b)
A money market account
c)
A CD
d)
All of these are ways to save money
78.
What is an IRA?
a)
The government organization that is in charge of managing retirement funds.
b)
a type of savings account that is designed to help you save for retirement and offers many tax advantages. 
c)
A fund that allows employees to save for college or other short term expenses
d)
A type of mortgage that is interest free
79.
Retirement is what type of wealth building?
a)
Long-Term
b)
Short-Term
80.
When should you start putting money away for retirement?
a)
As soon as possible
b)
Never
c)
When you are 50.
d)
Whenever you feel like it.  
81.
Pool of money managed by an investment company/ professional and invested in multiple companies.
a)
Stock Market
b)
Mutual Fund
c)
Investment
d)
Money Market Account
82.
This is the idea that you don't want to have "All your eggs in one basket."
a)
spreading risk
b)
Easter agenda
c)
safe investing
d)
diversification
83.
Assume you are 22 years old, have up to $5,000 to invest annually toward retirement. However, your employer is not providing a match or a retirement plan. Select the best financial product for you.
a)
IRA
b)
401K or Company matching plan
c)
Savings account
d)
Car
84.
A retirement savings plan offered by a corporation to its employees; the employee contributes money from his/her gross pay, and the money grows tax deferred. Often times the company will match to certain percentage.
a)
IRA
b)
401(k)
c)
Share
d)
Mutual Fund
85.
Diversification lowers risk with investing.
a)
True
b)
False
86.
What is the difference between a Roth IRA and a Traditional IRA?
a)
A Roth IRA is tax free, a Traditional IRA is tax deductible 
b)
A Traditional IRA is managed by the government, a Roth IRA is managed by a private company
c)
A Roth IRA is only available to military and public service employees
d)
There is no difference, just the name
87.
What is one strategy that you can use to save money for retirement?  
a)
Put a little money into retirement each month.  
b)
Spend every dollar you have.  
c)
Do not put money into a retirement account.  
d)
None of the above three choices are correct. 
88.
A federally-approved, tax-deferred savings program for self-employed people, allowing them to set money aside for their retirement.
a)
Tax sheltered annuity
b)
Keogh Plan
c)
401K
89.
 ____________is a retirement plan for certain employees of public schools, employees of certain tax-exempt organizations, and certain ministers.
a)
401K
b)
Social security
c)
TSA (tax sheltered annuity) / 403 B
d)
Keogh Plan
90.
At retirement, many people find that their need for life insurance has diminished.
a)
True
b)
False
91.
Earnings on tax-deferred accounts are taxed when withdrawn.
a)
True
b)
False
92.
Heirs are people entitled to inherit property or assets.
a)
True
b)
False
93.
Employee contributions to SEP plans are tax-deductible.
a)
True
b)
False
94.
A reverse mortgage does not have to be repaid.
a)
True
b)
False
95.
A 401(K) plan is available to government and not-for-profit employees.
a)
True
b)
False
96.
Types of investment choices are different, depending on your age.
a)
True
b)
False
97.
Government-sponsored pension plans include social security and veterans benefits.
a)
True
b)
False
98.
A 403(B) plan is available to employees of profit-seeking businesses.
a)
True
b)
False
99.
All people are eligible for a deductible, tax-deferred IRA.
a)
True
b)
False
100.
Simplified employee pension (SEP) plans allow smaller employers to establish plans with IRAs as a funding method.
a)
True
b)
False
101.
Retired people should always plan to sell their family home and move to a smaller house.
a)
True
b)
False
102.
Proceeds from a reverse mortgage are ____
a)
tax-free
b)
tax-deferred
c)
paid to heirs
d)
taxed by federal and state governments
103.
When should estate planning begin?
a)
at retirement
b)
at financial maturity
c)
as early as possible
d)
at the time an employee is vested
104.
What is a tax-deferred retirement savings plan available to self-employed individuals and their employees?
a)
401(K)
b)
403(B)
c)
IRA
d)
Keogh
105.
Which is the major insurance concern for retired persons?
a)
life
b)
health
c)
automobile
d)
property
106.

I consent to Troo contacting me regarding my Retirement Planning Needs

a)

Yes

b)

No

107.

What's your full name?

4 lines
108.

What's your e-mail address?

4 lines
109.

What's your contact number?

4 lines
110.

Who invited you to join today's webinar?

4 lines
111.
Who should be responsible for financially preparing for my Retirement
a)
Me
b)
My Employer
c)
My Family
d)
The Government
112.

The Montly State Pension at age 60 for an employee aged 30 earning ₱50,000 per month is…?

a)

₱10,500

b)

₱12,645

c)

₱18,845

d)

₱20,545

113.
Who are the "Sandwich Generation"?
a)
People "Sandwiched" betweem caring for their children AND caring for their parents
b)
People who start a sandwich business
c)
People who only eat sandwiches
114.

How much of your final drawn salary should you aim for to have a "Comfortable" Retirement?

a)

Between 25% and 35%

b)

Between 35% and 50%

c)

Between 75% and 100%

d)

More than 100%

115.

What is the level of medical inflation in the Philippines?

a)

5% per annum

b)

7.2% per annum

c)

10.2% per annum

d)

13.7% per annum

116.
Where should you go to find out how you can be financially prepared for Retirement - "The Longest Holiday Of Your Life"?
a)
EastWest Bank and Troo
b)
The Internet
c)
A Priest
d)
A Fortune Teller

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