Quizzes

Test your knowledge about everything “FINANCE”.

Every month, we will be posting a new quiz around different financial topics.

Please feel free to share it!

Personal Finance 101

Personal Finance 001






1. High yield savings accounts tend to offer significantly higher interest rates than traditional savings accounts. How much higher are rates typically?
*
2. You have a joint account with your spouse. You also have an individual account at the same bank, but your spouse does not. How much insurance do you have as a couple?
*
3. How high must your FICO credit score be for you to qualify for the best interest rates?
*
4. Your bank just notified you that your 12-month Certificate of Deposit (CD) is maturing. What factors are important to consider before you decide to let it automatically renew?
*
5. Which savings strategy will get you to $1 million in the bank by age 65, assuming 8% annualized returns?
*
6. It’s a fact: 60% of today’s households face a financial emergency each year, but 40% say they don’t have enough savings to cover a $400 unexpected expense. How much money should you aim to set aside in an emergency fund to handle unanticipated expenses?
*
7. Which statement about fixed vs. variable interest loans is false?
*
8. Are contributions to a traditional 401(k) plan deducted from your salary before or after taxes?
*
9. What types of things could make it necessary to revise your budget and monthly forecasts?
*
10. True or false? There is no age limit for contributing to a Roth IRA, as long as you have earned income that doesn’t exceed the annual limit set by the IRS each year.
*


Personal Finance 102

Personal Finance 002






1. What are the different ways you can contribute to your 401(k)?
*
2. True or False: A Roth conversion lets you switch how your 401(k) savings are taxed going forward.
*
3. A 401(k) plan is…
*
4. What income sources can you use to fund your 401(k)?
*
5. How often should you check in on your 401(k) investments?
*
6. What’s the best thing about turning 50?
*
7. Based on rules defined by the Internal Revenue Service at what age can you withdraw money from your retirement plan without a tax penalty?
*
8. True or False: In most cases, people can combine a retirement plan from their previous employer with a retirement plan with their current employer.
*
9. What does “vested” mean?
*
10. True or False: The money I invest in a traditional retirement plan never reduces my taxable income.
*


Personal Finance 103

Personal Finance 003






1. A matching contribution takes place when…
*
2. Which of the following is true regarding 401(k) loans?
*
3. Lebron James and Stephen Curry open a 401(k). What’s the minimum amount that the NBA must contribute to the plan each year?
*
4. True or False: When you quit your job, your 401(k) automatically carries over to your next employer.
*
5. You get a job with Beyoncé's company, Parkwood Entertainment, and are offered a 401(k) plan. You can enroll immediately if…
*
6. The maximum amount you can contribute in 2020 to a 401(k) plan annually if you are under 50 is…
*
7. Stacy's mom, who recently turned 45, decides to take out a 401(k) loan so that she can treat Stacy and her friends to the VIP experience with Taylor Swift. What happens if Stacy's mom can't repay the loan?
*
8. Your waiting period – or the time between your hire date and when you can enroll in a 401(k) plan – ends when…
*
9. At what age can you generally take distributions from your 401(k) without incurring a premature distribution penalty?
*
10. It may make sense to borrow from your 401(k) if…
*


how can we help you?

Contact us to learn about any of our services or financial education opportunities.

Book an appointment
March 2024
Mon Tue Wed Thu Fri Sat Sun
26272829123
45678910
11121314151617
18192021222324
25262728293031
Enable Notifications.    Ok No thanks