Are You Smarter Than The Average Person in Financial Planning?

Are You Smarter Than the Average Person in Financial Planning? 1,000,000 Level 5: Saving & Investing Level 5: Insurance Level: 4 Taxes Level 4: Retirement Level 3: Estate Planning Level 3: Saving & Investing Level 2: Insurance Level 2: Taxes Level 1: Retiremen t Level 1: Retiremen t Level 1: Estate Planning 500, , , ,000 50,000 25,000 10,000 5,000 2,000 1,000.

Level 5: Saving & Investing  One of Standard and Poor’s stock indices, the S&P 500, reports performance of which type of stocks? A. Large Cap stocks B. Mid Cap stocks C. Small Cap stocks D. International stocks  One of Standard and Poor’s stock indices, the S&P 500, reports performance of which type of stocks? A. Large Cap stocks B. Mid Cap stocks C. Small Cap stocks D. International stocks

Level 5: Saving & Investing Answer  Large Cap Stocks Return

Level 5: Insurance  These two requirements outlined in a health insurance contract require you to pay for a portion of your losses when you file a claim. A. Premium and Copayment B. Deductible and Coinsurance C. Coinsurance Cap and Rate D. Stop-loss Provision and Beneficiary  These two requirements outlined in a health insurance contract require you to pay for a portion of your losses when you file a claim. A. Premium and Copayment B. Deductible and Coinsurance C. Coinsurance Cap and Rate D. Stop-loss Provision and Beneficiary

Level 5: Insurance Answer  Deductible and Coinsurance Return

Level 4: Taxes  When making charitable contributions, an individual can take a deduction for all of the following EXCEPT: A. Vehicle expenses. B. Supplies purchased. C. Time spent volunteering. D. Cash donations.  When making charitable contributions, an individual can take a deduction for all of the following EXCEPT: A. Vehicle expenses. B. Supplies purchased. C. Time spent volunteering. D. Cash donations.

Level 4: Taxes Answer  Time spent volunteering Return

Level 4: Retirement  When you have worked long enough to gain the right to the portion of pension benefits paid in by the employer on your behalf, you: A. Earn a gold watch. B. Become portable. C. Become vested. D. Become loaded.  When you have worked long enough to gain the right to the portion of pension benefits paid in by the employer on your behalf, you: A. Earn a gold watch. B. Become portable. C. Become vested. D. Become loaded.

Level 4: Retirement Answer  Become Vested Return

Level 3: Estate Planning  The administrator of an estate is NOT entitled to any compensation from the deceased’s estate.  True or False  The administrator of an estate is NOT entitled to any compensation from the deceased’s estate.  True or False

Level 3: Estate Planning Answer  False Return

Level 3: Saving & Investing  An investment made by individuals loaning money to a government agency is called what? A. Pay Day Loan B. Stock C. Municipal Bond D. Capital Expenditure  An investment made by individuals loaning money to a government agency is called what? A. Pay Day Loan B. Stock C. Municipal Bond D. Capital Expenditure

Level 3: Saving & Investing Answer  Municipal Bond Return

Level 2: Insurance  Purchasing insurance is a way to _______ risk. A. Receive B. Transfer C. Avoid D. Accept  Purchasing insurance is a way to _______ risk. A. Receive B. Transfer C. Avoid D. Accept

Level 2: Insurance Answer  Transfer Return

Level 2: Taxes  All of the following are income tax filing statuses EXCEPT: A. Married filing separately. B. Head of household. C. Qualifying widow(er). D. Qualifying minor.  All of the following are income tax filing statuses EXCEPT: A. Married filing separately. B. Head of household. C. Qualifying widow(er). D. Qualifying minor.

Level 2: Taxes Answer  Qualifying Minor Return

Level 1: Retirement  Making a $1,000 contribution to an IRA and having $2,000 at the end of the period is referred to as ____________. A. Future monetary value B. Time value of money C. Future money D. Mo money  Making a $1,000 contribution to an IRA and having $2,000 at the end of the period is referred to as ____________. A. Future monetary value B. Time value of money C. Future money D. Mo money

Level 1: Retirement Answer  Time Value of Money Return

Level 1: Estate Planning  If other legal requirements are met, which type of will would be legal in Georgia? A. A Video Recorded Will B. An Audio Recorded Will C. A Handwritten Will D. None of the Above  If other legal requirements are met, which type of will would be legal in Georgia? A. A Video Recorded Will B. An Audio Recorded Will C. A Handwritten Will D. None of the Above

Level 1 Estate Planning Answer  A Handwritten Will Return

Million Dollar Question: Retirement

1,000,000 Question  If certain qualifying conditions are met, which retirement account would the earnings be tax-free in retirement? A. Traditional IRA B. 401(k) Plan C. Roth IRA D. 403(b) Plan  If certain qualifying conditions are met, which retirement account would the earnings be tax-free in retirement? A. Traditional IRA B. 401(k) Plan C. Roth IRA D. 403(b) Plan

1,000,000 Answer  Roth IRA Return

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