
FI Quarter 1 Benchmark Review
Authored by Edwin Keller
Business
12th Grade
Used 1+ times

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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Financial Independence (“FI”) is achieved when
Passive Income + Sustainable Asset Withdrawal < Living Expenses
Passive Income + Sustainable Asset Withdrawal > Living Expenses
Passive Income + Sustainable Asset Withdrawal > Net Worth
Passive Income + Sustainable Asset Withdrawal < Net Worth
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you calculate Net Worth?
Earned Income - Passive Income = Net Worth
Assets - Liabilities = Net Worth
Earned Income + Passive Income = Net Worth
Assets + Liabilities = Net Worth
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Upon retirement, many experts recommend withdrawing no more than _____ % from your life savings each year.
1%
4%
10%
20%
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An individual reaches “FI” when they DO NOT depend on what type of income to pay for their living expenses?
Earned Income
Passive Income
Portfolio Income
Side Hustles
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a strategy for reaching “FI” sooner?
Buy a nicer car
Cut back on spending
Save/invest more money
Work a side hustle or second job
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
During the Covid Pandemic, the US government printed off trillions of dollars and gave out thousands of dollars in “stimulus” checks to every American to help make up for them not working. How should this action affect prices?
Prices would drop as a result
Prices would rise as a result
Prices would stay the same
It is impossible to predict what might happen to prices when the government prints trillions of dollars out of thin air
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If my bank account earns 1% and inflation rises by 3%, what is the real return on my investment?
-4%
-2%
2%
4%
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