Monetact Pre-Assessment
Monetact Pre-Assessment Quiz
Test your knowledge and understanding of financial topics that are essential for making informed decisions. This quiz covers a range of subjects including Social Security, investments, health care costs, and more.
Prepare yourself with these key areas:
- Social Security Benefits
- Tax Deductions
- Investment Strategies
- Loan Interest Rates
- Health Care Expenses
What’s the maximum amount of Social Security income that’s subject to federal income taxes?
50 percent
85 percent
100 percent
None of it is subject to federal income taxes.
Which of the following single taxpayers is entitled to claim the largest standard deduction?
A 64-year-old who is confined to a wheelchair
A 68-year-old who is confined to a wheelchair
A healthy 70-year-old
A 72-year-old who is legally blind
Which feature do Exchange-Traded Funds (ETFs) have in common with mutual funds?
They can be traded at any time
They are both deliberately confusing
One investment purchases a group of assets
They are tied to an index
What is the best course of action when faced with two stocks, one gaining value, the other losing value?
Sell them both if you have a net profit
Sell the losing stock and hold onto the winning stock
Sell the winning stock, take the profit, and wait for the losing stock to regain its value
Buy more of the losing stock to lower your average cost
You will likely receive a better interest rate on a loan if you:
Put down a larger down payment
Have a high FICO score
Select a loan that has a shorter loan term
All of the above
When you obtain a "line of credit" from a lender, you
Are able to borrow any amount up to a maximum at your discretion. You pay interest only on the amount borrowed and have flexible repayment terms
Borrow a set amount and repay it in fixed monthly installments over a defined term
Borrow a small amount on a short-term basis and secure that loan against your next pay check
None of the above
How much will the typical married couple retiring at age 65 spend on out-of-pocket costs for health care throughout retirement (in today’s dollars)?
$50,000
$100,000
$157,000
$200,000
$266,000
$330,000
If you purchase a bond and interest rates rise, what will happen to the price of the bond?
Rise
Stay the same
Fall
A typical 65-year-old man can expect to live, on average, for how many more years?
About 10 more years
About 15 more years
About 20 more years
About 25 more years
About 30 more years
What is the average annual rate of inflation for college tuition around the country?
2 percent
5 percent
8 percent
11 percent
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