Financial Planning Association
Authored by Shreya Singh
Financial Education
University
Used 1+ times
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23 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is true about an IRA (Individual Retirement Account)?
Roth IRAs offer tax-deductible contributions.
Contributions to a traditional IRA are taxed upon withdrawal.
Both Traditional and Roth IRAs allow tax-free growth.
Withdrawals from a Roth IRA are always taxed.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How long do you keep cancelled checks?
3 years
6 years
Until you verified your bank statement
1 year
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
HoHow long do you keep pay stubs?
3 months
Until 2 years past employment
Until you verified your bank statement
Until you verified your W-2
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is known as an expense that is not absolutely necessary?
Gross
Net
Discretionary
Credentials
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are 2 things consumers spend most of their money on?
Food and Clothes
Housing and Transportation
Insurance and Housing
Transportation and Food
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is known as purchasing an item on a whim?
Impulse
Fixed
Flexible
Online Purchase
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a balance sheet?
To determine your budget
To determine your income
To determine your credit card debt
To determine your net worth
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