Compare tax advantage retirement plans, including Individual Retirement Accounts (IRAs), Roth IRAs, 401(k) plans, and 403(b) plans, and determine an appropriate investment for retirement
The student applies mathematical process standards to demonstrate an understanding of a fixed pension, a variable pension, social security, and an annuity. The student is expected to identify an annuity and calculate and display graphically the future value of an annuity.
The student applies mathematical process standards to demonstrate an understanding of wills and trusts for the distribution of assets at death. The student is expected to identify how wills and trusts support the distribution of assets after death.
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Q 1/10
Score 0
Which of the following retirement plans is NOT offered through an employer?
300
Roth IRA
Pension
401(k)
403(b)
Q 2/10
Score 0
Which of the following is NOT an advantage of a Roth IRA over a traditional IRA?
300
You can withdraw some money early without a penalty - up to the amount you contributed.
Because the Roth IRA is invested with post-tax money, any gains you receive upon payout aren't taxed.
There are no advantages of a Roth IRA over a Traditional IRA.
Because the Roth IRA is invested with pre-tax money, it lowers your adjusted gross income for the year.
10 questions
Q.
Which of the following retirement plans is NOT offered through an employer?
1
300 sec
130.180.F.11.A
Q.
Which of the following is NOT an advantage of a Roth IRA over a traditional IRA?
2
300 sec
130.180.F.11.A
Q.
What is the typical penalty for early withdrawal from an IRA?
3
300 sec
130.180.F.11.C
Q.
Why should you begin investing in your retirement as early as possible?
4
300 sec
130.180.F.11.B
Q.
If Alice makes $3,000 per month at her civil engineering job, how much of that money will go towards paying for social security each month?
5
300 sec
130.180.F.12
Q.
Which of the following is considered a fixed pension?
6
300 sec
130.180.F.12
Q.
Clarissa has decided to contribute $250 per month for 12 years to an annuity with an annual interest rate of 6%. What will the future value of her annuity be at the end of the 12 month period?
7
300 sec
130.180.F.12
Q.
Anthony knows he needs $500 per month for a period of five years in the future. He wants to set up an annuity to gain those payments. He found an annuity with a 6.5% annual interest rate. Calculate the amount Anthony must deposit to fund the annuity.
8
300 sec
130.180.F.12
Q.
Jackson's estate has total assets worth $315,678 and liabilities worth $95,167. What is the net value of Jackson's estate?
9
300 sec
130.180.F.13
Q.
Dianne's grandmother's estate has total assets worth $485,617 and liabilities worth $160,018. If Dianne's grandmother leaves her estate to Dianne and her two sisters, how much will each sister get?
