Internship Insights Quiz

What percentage of your credit limit should you ideally use?

• 50%

• 30%

• 70%

• 90%

What is one of the benefits of the Discover IT Card?

• Annual fee

• Cashback match

• High foreign transaction fees

• No credit score monitoring

Is the Chase Freedom Unlimited card widely accepted?

• Yes

• No

• Only in the US

• Only in Europe

What is the balance at age 55 for someone starting at age 35?

• $295,688

• $685,149

• $317,875

• $530,684

What is the balance at age 35 for someone starting at age 25?

• $69,125

• $101,331

• $224,681

• $530,684

What is one of the pros of a Roth IRA?

• Immediate tax deduction

• Tax-free withdrawals in retirement

• No income limits

• Required minimum distribution

Which of the following is a con of a Roth IRA?

• Tax-free withdrawals in retirement

• No RMD

• Income limits

• Contributions can be withdrawn penalty free

What is the penalty for early withdrawal from a Traditional IRA?

• No penalty

• Penalty before age 65

• Penalty before age 59 ½

• Penalty before age 70

Is there an income limit for contributing to a Traditional IRA?

• Yes, there is a strict limit

• No, there is no income limit

• Yes, but only for high earners

• Yes, but it varies by age

Can you have both a Traditional IRA and another type of retirement account?

• No, you can only have one

• Yes, you can always have both

• Yes, but only if you are over 50

• No, it is not allowed by law