Retirement Planning Key Terms

Retirement Planning Key Terms

12th Grade

35 Qs

quiz-placeholder

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Retirement Planning Key Terms

Retirement Planning Key Terms

Assessment

Quiz

Mathematics

12th Grade

Hard

Created by

Anna Misso

Used 2+ times

FREE Resource

35 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

David, Hannah, and Daniel are attending a seminar on 'Financial Planning for Future'. The speaker asks David, 'Which type of retirement account allows contributions to be made with pre-tax dollars?' Can you help David answer?

Roth IRA

SEP plan

401(k)

After-tax investments

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Anika, Lily, and Aria are studying for their civics test. They come across a question they can't answer: 'What is the name of the federal program that provides retirement benefits?' Can you help them?

Pension

Vested

Old-Age, Survivors, and Disability Insurance

Social Security benefit

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Abigail, Nora, and Kai are all employees at a large corporation. They're having a discussion during lunch about their future retirement plans. Elijah, David, and James, who are senior employees, join them and start discussing the formula used to calculate pension benefits based on an employee's final average salary. Can you help them understand this?

Final-average Formula

Single life annuity

Qualified joint and survivor annuity

Flat-benefit Formula

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Aiden, Jackson, and Kai are studying for their 'Insurance Fundamentals' class. They are discussing a case study about a person who receives the money from a life insurance policy. They are confused about the term for this person. Can you help them out?

Term life insurance

Beneficiary

Premium

Group term life insurance

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Sophia, Scarlett, Emma, Aiden, Ethan, and Arjun are planning to invest their savings. They want to choose an investment type that is less risky and more stable. What type of investment should they choose?

Aggressive investment

Speculative stock

Liquidity

Conservative investment

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Aiden, William, and Anika are planning to buy a car. They are discussing about the insurance costs and Aiden asked a question: 'What is the term for the amount you must pay out-of-pocket before an insurer will cover any expenses?'

Deductible

Premium

Beneficiary

Term life insurance

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Lily, Abigail, and Maya are working professionals who are considering their future financial stability. They recently attended a seminar where they learned about a retirement plan that allows employees to allocate a portion of their pre-tax salary towards long-term investments. Can you identify the name of this plan?

401(k)

Roth IRA

SEP plan

After-tax investments

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