WorksheetsFin Lit Quiz Review
Total questions: 10
Worksheet time: 6mins
Only ___ of US adults are financially literate.
30%
44%
57%
none of the above
___ % of employees run out of money before their next paycheck.
10%
20%
30%
40%
What are some common mistakes that millionaires make that cause them to go broke that we could also do? Name at least 5 different ideas here.
(a)
What is an example of an uncontrollable event that could affect your finances and how can you prepare ahead so its impact on you is less damaging?
(a)
What could help solve the Social Security and Medicare system problem?
increase age of retirement
cut benefits
rasie taxes
all of the above
The reason the Social Security and Medicare system is running out is because
Old people are living longer
There are not enough workers putting money into the system
The rising costs of health care
all of these
Which of these options will you need to retire?
Social Security
Medicare
Savings
Investments
Retirement Funds
If you invest the same amount of money into the following retirement options, which will give you the biggest income for retirement?
IRA
401K
Roth IRA
Savings Account
all of the above
Which retirement plan invests your untaxed money into a retirement investment?
IRA
401K
403B
Roth IRA
Only A, B, C
Why do retirees need GAP Insurance?
To help cover their decreasing Social Security benefits.
To help cover their decreasing Medicare benefits.
Both A & B
none
