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FP 101 Week 7 Quiz

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FP 101 Week 7 Quiz

https://uoptutorialstore.com/category/fp-101/

 

FP 101 Week 7 Quiz

 

Complete the Week 7 Quiz provided by your facilitator.

Submit your Week 7 Quiz as a Microsoft® Word®attachment to the Assignment Files tab.

Week Seven

 

 

 

    1. If you start a new job and are offered the opportunity to participate in the company’s 401(k) or 403(b) retirement plan, which of the following decisions can affect your financial future?

 

 

    1. Participating in the retirement account to reduce income taxes

 

 

    1. Participating in the retirement account to take advantage of the employer’s matching contributions

 

 

    1. Basing your actual choice of investments on your age, how long before you retire, and your tolerance for risk

 

 

    1. All of these decisions would have a financial impact.

 

 

 

 

 

 

 

    1. When thinking about retirement, which of the following is most accurate?

 

 

    1. You’ll spend less when you retire.

 

 

    1. Saving just a little bit won’t help.

 

 

    1. You can depend on Social Security and a company pension plan to pay your basic living expenses.

 

 

    1. The earlier you start saving, the better.

 

 

 

 

 

 

 

    1. When planning for retirement

 

 

    1. A mortgage should not affect your financial planning.

 

 

    1. Investments should be evaluated to determine whether their income can help cover living expenses.

 

 

    1. Keeping your current, large house will be cheaper to maintain than to move to a smaller house.

 

 

    1. Life insurance should be avoided.

 

 

 

 

 

 

 

    1. When planning for retirement, inflation

 

 

    1. Decreases through retirement

 

 

    1. Can be ignored since it will have little effect on retirement funding

 

 

    1. Should be considered since income received earlier in retirement will buy more than the same amount received later in retirement

 

 

    1. Should be recognized since it will increase the value of income received in retirement

 

 

 

 

 

 

 

    1. Employees who were born in 1960 or later can receive full Social Security benefits beginning at what age?

 

 

    1. 59 ½

 

 

    1. 62

 

 

    1. 67

 

 

    1. 70

 

 

 

 

 

 

 

    1. Jacob is updating his estate planning and wants to set up the legal document to leave everything to his wife. He is writing a(n)

 

FP 101 Week 7 Quiz https://uoptutorialstore.com/category/fp-101/ FP 101 Week 7 Quiz Complete the Week 7 Quiz provided by your facilitator. Submit your Week 7 Quiz as a Microsoft® Word®attachment to the Assignment Files tab. Week Se
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