Free Printable Retirement

1.

Which are stock exchanges in the US

a)

NYSE

b)

NASDAQ

c)

Chicago Stock Exchange

d)

JPX

2.

This type of retirement plan favors older workers who work for the same company for many years. It guarantees monthly income payments to the retiree.

a)

A 401-K Plan

b)

A pension

c)

A Roth IRA

d)

A Traditional IRA

3.

John's company will match his pre-tax contributions to the company's retirement plan, known as:

a)

A 401(k)

b)

A Roth IRA

c)

A defined benefit plan

d)

A traditional IRA

4.

What is the name of this coin?

a)

Nickel

b)

Penny

c)

Quarter

d)

Dime

5.

You can begin withdrawing IRA funds at anytime without incurring additional taxes or penalties.

a)

True

b)

False

6.

Benefit of diversification in your investments is

a)

Reduced risk

b)

Increase return

c)

Reduced tax liability

d)

Increased risk

7.

What is a Traditional IRA?

a)

A Traditional IRA is a special retirement account where you pay taxes on money going into your account, and then all future withdrawals are tax-free.

b)

A Traditional IRA allows individuals to direct pre-tax income toward investments that can grow tax-deferred. The IRS assesses no capital gains or dividend income taxes until the beneficiary makes a withdrawal.

8.

A Roth IRA requires you to take minimum distributions at 70-1/2.

a)

True

b)

False

9.

Traditional IRA's give you tax benefits now while Roth IRA's give you benefits in retirement.

a)

True

b)

False

10.

The benefit of a Roth IRA is you will never have to pay taxes when you withdraw the money at retirement.

a)

True

b)

False

11.

What is a Roth IRA?

a)

A Roth IRA is a special retirement account where you pay taxes on money going into your account, and then all future withdrawals are tax-free.

b)

A Roth IRA allows individuals to direct pre-tax income toward investments that can grow tax-deferred. The IRS assesses no capital gains or dividend income taxes until the beneficiary makes a withdrawal.

12.

IRA stands for Independent Retirement Plan.

a)

True

b)

False

13.

An example of a Defined Benefit Plan would be

a)

A Roth IRA

b)

A Traditional IRA

c)

A pension plan

d)

A 401-K Plan

14.

Government insurance for the old, disabled, and survivors

a)

Pension

b)

IRA

c)

401K

d)

Social Security

15.

Which statement is false about liquidity?

a)

The more liquid an investment, the more the return

b)

The less liquid an investment, the less return

c)

The more liquid an investment, the less return

d)

Both A and B

16.

How much of your salary do experts recommend you set aside for retirement?

a)

5-10%

b)

10-15%

c)

20-25%

d)

25-30%

17.

The only retirement plan that is not tax-deferred (meaning it has already been taxed.)

a)

A pension plan

b)

A Roth IRA

c)

A Traditional IRA

d)

A 401-k Plan

18.

Use the ROTH IRA Calculator to answer the following question. If you put $5500 per year in a Roth IRA from the age of 25 until you retire at the age of 65, at a 5% interest rate return, how much money would you have saved for retirement?

a)

$220,000

b)

$697,619

c)

$511,338

19.

Use the ROTH IRA Calculator to answer the following question. If you put $1200 per year in a Roth IRA from the age of 17 until you retire at the age of 65, at a 4% interest rate return, how much money would you have saved for retirement?

a)

$57,600

b)

$129,049

c)

$173,800

20.

What percentage is taken out of your paycheck for Social Security

a)

1.45%

b)

6.2%

c)

4.25%

d)

More as you make more

21.

Which are stock exchanges in the US

a)

NYSE

b)

NASDAQ

c)

Chicago Stock Exchange

d)

JPX

22.

Government insurance for the old, disabled, and survivors

a)

Pension

b)

IRA

c)

401K

d)

Social Security

23.

Use the ROTH IRA Calculator to answer the following question. If you put $5500 per year in a Roth IRA from the age of 25 until you retire at the age of 65, at a 5% interest rate return, how much money would you have saved for retirement?

a)

$220,000

b)

$697,619

c)

$511,338

24.

How much of your salary do experts recommend you set aside for retirement?

a)

5-10%

b)

10-15%

c)

20-25%

d)

25-30%

25.

What is a Traditional IRA?

a)

A Traditional IRA is a special retirement account where you pay taxes on money going into your account, and then all future withdrawals are tax-free.

b)

A Traditional IRA allows individuals to direct pre-tax income toward investments that can grow tax-deferred. The IRS assesses no capital gains or dividend income taxes until the beneficiary makes a withdrawal.

26.

which of the following is true about a 401k account (select all that apply)

a)

it's basically investing

b)

there are penalties for withdrawing from it before you reach retirement age

c)

both you and your employer put money into it

d)

you can lose money if the market crashes

e)

you have to open one

27.

A single stock would be a good place to keep your emergency fund.

a)

Yes

b)

No

28.

When thinking about retirement and the amount of money you will need to live as you want, the best time to start is

a)

the last five years of employment

b)

as early as possible

c)

age 40

d)

age 50

29.

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

30.

1.

Most Americans will have enough money from Social Security to retire comfortably.

a)

True

b)

False

31.

which of the following is true about a 401k account (select all that apply)

a)

it's basically investing

b)

there are penalties for withdrawing from it before you reach retirement age

c)

both you and your employer put money into it

d)

you can lose money if the market crashes

e)

you have to open one

32.

Borrowing money for investing is particularly bad because:

a)

It increases the risk of the investment

b)

If you lose the money you are still left with payments on it

c)

Borrowing is debt and the second foundation is to stay out of debt

d)

All of these

33.

2. In order to be eligible for Social Security, you must have worked for 35 years.

a)

True

b)

False

34.

A list of your investments

a)

Investment

b)

Mutual Fund

c)

401(k)

d)

Portfolio

35.

5. Social Security is a government-guaranteed basic income for older Americans, funded through a special tax paid by workers.

a)

True

b)

False

Retirement

Total questions: 35

Worksheet time: 26mins

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