Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
Give this quiz to my class
Q 1/30
Score 0
An assisted-living facility provides personal and medical services for the elderly.
30
True
False
Q 2/30
Score 0
No matter how much money you earned during your lifetime, your Social Security benefits will be the same.
30
False
True
30 questions
Q.
An assisted-living facility provides personal and medical services for the elderly.
1
30 sec
Q.
No matter how much money you earned during your lifetime, your Social Security benefits will be the same.
2
30 sec
Q.
Saving a small amount of money each month will not help you in retirement planning.
3
30 sec
Q.
Vesting is an employee’s right to keep the company’s contributions from company-sponsored plans even if the employee no longer works there.
4
30 sec
Q.
Annual contributions to a Roth IRA are fully tax-deductible and earnings are tax-deferred.
5
30 sec
Q.
If you die while on vacation, you die intestate.
6
30 sec
Q.
Probate is the legal process of proving whether a will is valid.
7
30 sec
Q.
You can avoid probate by setting up a living trust.
8
30 sec
Q.
If you and your spouse own property as tenants in common, your share automatically goes to your partner when you die.
9
30 sec
Q.
A traditional marital share will leaves everything to the spouse.
10
30 sec
Q.
All the following assets usually have an important effect on people’s retirement income EXCEPT their ____.
11
30 sec
Q.
The Social Security program ____.
12
30 sec
Q.
Retirees often spend less money on ____.
13
30 sec
Q.
The salary reduction plan for an employee at a tax-exempt institution is called a ____.
14
30 sec
Q.
A person can transfer all or a portion of the taxable distribution from his or her retirement plan to a(n) ____.
15
30 sec
Q.
People approaching retirement often purchase ____.
16
30 sec
Q.
A well-prepared estate plan will include all of the following EXCEPT ____.
17
30 sec
Q.
In a living will, a person expresses whether he or she wants to ____.
18
30 sec
Q.
Tax collected by the state on the property left by a person in his or her will is called ____.
19
30 sec
Q.
Cash that a married couple gives to another person is subject to a gift tax if the amount is over ____.
20
30 sec
Q.
Definition: an arrangement in which a designated person manages assets for the benefit of someone else
21
30 sec
Q.
Definition: a person who accepts the responsibility of caring for the children of parents who die and of managing the parents’ estate until the children reach a certain age
22
30 sec
Q.
Definition: someone designated to perform the tasks involved in carrying out a will
23
30 sec
Q.
Definition: a legal document that authorizes a person to act on another’s behalf
24
30 sec
Q.
Definition: a retirement plan that specifies the benefits a person receives at retirement age, based on his or her total earnings and years on the job
25
30 sec
Q.
Definition: a document in which a person expresses whether he or she wishes to be kept alive by artificial means if he or she becomes terminally ill and is unable to make such a decision
26
30 sec
Q.
Definition: a document that explains, adds, or deletes provisions in a person’s existing will
27
30 sec
Q.
Definition: the legal document that specifies how a person wants his or her property distributed after he or she dies
28
30 sec
Q.
Definition: the people who will have the legal right to a person’s assets when he or she dies
29
30 sec
Q.
Definition: a contract purchased from an insurance company that provides for a sum of money to be paid at regular intervals for a certain number of years, or for life
