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Question 1 of 8
IRA Stands For
Individual Retirement Arrangement
Individual Retirement Assest
Individual Retirement Account
Individual Retirement Assistance
Question 2 of 8
A coffee and a cupcake cost $1.10. The coffee is 1 dollar more than the cupcake.
How much was the cupcake?
1 dollar
25 cents
10 cents
5 cents
Question 3 of 8
You got a tax refund this year, which means..
The government was really nice to you this year and compensated you
You overpaid the government and they made interest of your money
You made very little income, therefore they are refunding some back to you
Your withholdings on your W4 are too low
Question 4 of 8
Imagine your savings account is earning 3% per year and inflation is 4% a year, both compounded annually. After one year, how would you be able to buy with the money in this account?
More than today
Exactly the same
Less than today
Don't know
Question 5 of 8
The Rule of 72 stands for...
The age when you have to take your money out of your retirement accounts and pay taxes on it.
The amount of money divided by 72 is how much interest you have to pay on your credit cards.
The Rule of 72 is the amount of years it will take your money to double when you divide the rate of return by 72.
There is no rule of 72
Question 6 of 8
You have $1000 in your bank account and it is earning 1% annually. How much would you have after 10 years?
1100
2000
10000
1105
Question 7 of 8
You have $100,000 in your IRA or 401K, but the market went down -50%. Now you have $50,000. How much would you need the market to go up to get back to $100,000 again?
A gain of 25%
A gain of 50%
A gain of 75%
A gain of 100%
Question 8 of 8
My Main Financial Concern is:
How to get out of debt
How to attract more money into my life
How to create and keep a Budget
How to create an Emergency Fund
How to achieve all my financial goals
Where are the best places to put my money
How to protect myself and my assets
How to create a plan for my kid or children
You have $100,000 in your IRA or 401K, but the market went down -50%. Now you have $50,000. How much would you need the market to go up to get back to $100,000 again?