Which is the correct order of priorities for your money?
Give, Save, Pay Bills
100
Which is a good investment
Mutual Funds
100
If you have $3,000 invested in a Roth IRA what is true about your contribution?
You have already paid taxes on the money so it will grow tax free
100
What is not a key to saving money?
How much you can earn
200
Movement of tax-deferred retirement money from one plan to another
Rollover
200
How much money should Lisa and Joe have in their emergency fund, if they have a $3,000 credit card bill and mortgage?
$1,000
200
The most aggressive mutual fund tend to be from:
Companies that are little younger and growing
200
Which of the following is a risk to consider when investing?
You could lose all of your money, inflation, and your money is not liquid
200
A good way to build discipline and get into the habit of saving is:
pre-authorized checking
300
Manager of child's UTMA account until he/she reaches age 21
Custodian
300
The baby Steps can best be described as:
A systematic process for getting out of financial mess, series of seven sequential steps that help you plan, save and manage money, and a series of steps that will work in good time and in bad times
300
What definition best explains an IRA?
The tax treatment on virtually any type of investment
300
If you own 50 shares of stock that you purchased for $30 a share, and the price increases to $70 per share, your profit is:
$2,000
300
Your piece of ownership in a company is called:
Share of stock
400
The availability of your money
Liquidity
400
Using the Rule of 72, how long it will take your money to double at 12% interest
6 years
400
If your company does not provide any type of 401(k) match, what is the best investment option?
Invest the maximum amount allowed in a Roth IRA, and then go back and fund the 401(k) to complete 15% of your income
400
The primary difference between the Roth IRA and a traditional IRA is:
The Roth IRA grows tax free;the traditional IRA doesn't
400
Which of the following funds would be most risky?
Aggressive Growth
500
Save for college in an _______________ Account
Educational Savings
500
The risk return ratio:
When the risk goes up, generally the return will go up
500
What is the best thing to do with your retirement plan when you leave a company?
Do a direct transfer into an IRA
500
The saving habits of Ben and Arthur best illustrate what principle of saving?
Rate of return matter and the length of time money is invested matters
500
When seeking a financial counselor to help you with you investments, always choose:
A financial counselor with the heart of a teacher who explains everything