Retirement Planning
Financial Well-Being
Aging and Well-Being
Advanced Directives
Spirituality and Well-Being
100
What is the median value of retirement accounts held by those between the ages of 55 and 64? a. 200,000 b. 150,000 c. 50,000 d. 100,000
Answer is D: A recent report by the Congressional Research Service noted that the median value of retirement accounts held by those between the ages 55 and 64 was a mere $100,000.
100
Where is the best place to put your retirement money? a. A bank account b. A 401 (k) company plan c. Taxable stocks and bonds d. Under the bed
Answer B - A 401 (k) company plan The pre-tax 401(k) that is invested aggressively in stocks pays off over time. This is an employer-sponsored plan where a certain amount or percentage of the employee’s salary is saved every year for the employee.
100
What is considered “Healthy Aging”? a. Living active b. Successful aging c. Active aging d. None of the above
Correct answer D – None of the above
100
What is a Health Care Power of Attorney? a. Your agent can only exercise a power that you are able to do b. Authorizes your agent to act on your behalf only in specific situation c. Allows your agent to make heath care decisions on your behalf if you are unconscious, mentally incompetent, or unable to do so. d. A and B e. None of the above
Correct answer is C : Allows your agent to make health care decisions on your behalf if you are unconscious, mentally incompetent, or unable to do so.
100
What motivates older adults to volunteer? a. To keep busy b. For altruistic reasons c. Religious concerns d. Learn new skills e. All of the above
Correct answer is E - All of the above
200
What is Financial Literacy? a. Knowledge of Basic Financial investment b. Knowledge of Basic concepts of Inflation and risk diversification c. Capacity to do Calculations related to interest rates d. All of the above e. None of the above
Financial literacy is D ( All of the above) Knowledge of Basic Financial investment Knowledge of Basic concepts of Inflation and risk diversification Capacity to do Calculations related to interest rates
200
How soon should you start saving for retirement? a. In my 50s b. Once your children’s education is paid for c. Right away d. After you buy a house
Answer C - Right Away! You should start saving as soon as you can
200
According to Kahn and Rowe, what are the 3 criteria about successful aging? a. Absence of disease, disability, and risk factors b. Maintaining physical and mental functioning c. Engagement with life d. Spiritual, physically and mental well being e. A, B, and C
Correct answer is E (a, b, and c)
200
Which one is not part of the “Five Wishes” stated in the legal document? a. The Person I want to make health care decisions for me when I can’t b. The kind of medical treatment I want or don’t want c. Make financial decision d. How comfortable I want to be e. How I want people to treat me f. What I want my loved ones to know
Correct answer is C All are true except, make financial decisions
200
What predicts better retention of volunteers in older adults? a. Satisfaction with the work b. Recognition c. Contact with others d. Team work e. All of the above
Correct answer is E – All of the above
300
According to Feldman, theories about retirement decision making are based on what 3 types of thinking? a. Imagining the possibility for retirement b. Assessing when it is time to let go of long-held jobs c. Putting in concrete plans for retirement into action d. All of the above
Answer D (All of the above) Feldman examines theories driven by three interconnected assessments of the work situation over time: imagining the possibility for retirement in the future, decision when it is time to let go of the long-held jobs and putting in concrete plans for retirement into action
300
What age groups are financially illiterate? a. Under age 35 b. Under age 25 c. Older age 65 d. A and B e. A and C
Answer E (a and c) – Certain socio-demographic groups are particularly at risk when managing their finances. Financial literacy is lowest among younger persons (under age 35) as well as the group older than age 65.
300
What are the determinants of successful aging, according to research and theoretical literature? a. Physical cognitive b. Social Functioning c. Number of healthy years d. A and B e. None of the above
Correct answer is D (a and b)
300
What is Advanced Directives? a. States your wishes b. Legal Document c. Referred to as Living Will d. All of the above
Correct answer is D – All of the Above
300
Which is not a theme related to religious behavior and the elderly as related to well-being? a. Social integration b. Participation in rituals or private religion c. Basis for delivering existential meaning d. Stability
Correct answer is D (Stability)
400
At what age would a person who is 55 in 2011 be able to collect full Social Security benefits? a. 59 and 6 months b. 65 c. 66 and 4 months d. 67
Answer C: (66 and 4 months) Those born in 1956 will have to wait until age 66 and four months for full benefits.
400
What prevent many workers from taking responsibility for retirement planning? a.Procrastination b. Inertia c. Low expectations of success d. All of the above
Correct answer is D All of the above
400
What is the impact of religiousness, spirituality, and social support on psychological well being of older adults in rural areas? a. Greater life satisfaction b. Decreased depressive symptom c. Optimism and less anxiety d. Better health outcomes e. All of the above
Correct answer is E – All of the above
400
What’s the difference between Hospice Care and Palliative Care? a) Palliative care alleviates symptoms and provides pain management b) Hospice is designed to provide comfort and support to patients and their families c) Hospice is a type of palliative care. d) Hospice is limited to those who are judge by medical professionals to be at the end of life but are still in need of pain relief and comfort. Contrast to palliative care, which does not prevent other specialists to focus on curing the patient’s disease., while receiving hospice care e) All of the above
Correct answer is E – All of the above
400
What words describe the meaning of Gerotranscendence? a. Old age b. To climb over c. All of the above d. None of the above
Correct answer is C (all of the above)
500
What are the main different sources of money in retirement? a. Social security b. Company-sponsored plans c. Continued employment d. Personal savings/investments e. All of the above
Answer E - All of the above There’s a few different sources of money in retirement. The main ones are: Social security, company-sponsored plans (401(k), 403(b), pensions, etc.), continued employment and Personal savings/investments
500
Which one is true about the effects of informal planning and formal planning of the retirement process? a. Informal leisure planning offers interaction with others b. Financial planning has an impact on anticipated financial satisfaction c. Informal leisure planning predicts general satisfaction and self-efficacy but not financial satisfaction d. All are true
Correct answer is D (All are true)
500
Clergy understand the need and spiritual development of aging adults? a. True b. False
Correct answer B – False
500
What are some advantages of Nursing homes? a. Around the clock care b. Provides a sense of community c. Are inexpensive d. Are evaluated by Medicare e. Individual are independent f. a, b, and d
Correct answer is F (a, b, and d) Nursing homes provides around the clock care, provide a sense of community and are monitored and evaluated by Medicare
500
What fits best within the framework of the human “health span”? a. Individual’s life b. Healthy years c. Active life expectancy d. All of the above
The correct answer is D (all of the above)
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