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SAVING AND INVESTING TEST
Please answer all questions below. At the end of the test, hit the submit button to find out how you did.



1In May of 2006 the American household savings percentage was at what percentage? According to the Federal Bureau of Economic Analysis

2Saving and investing will take which of these two?

3What are the three key foundations for any decision you make in life? These are listed in our book.

4You should not fear which of these?

5What is an ageless saying and attitude most successful people have?

6A college degree will most certainly guarantee this?

7Which of these statements is more accurate about corporate jobs?

8Most everyone has this, even if they have not discovered it yet, what is it?

9Each goal should have which of these?

10Using which of the listed processes may help you set and achieve goals?

11Which of these best describes a short-term goal?

12When you are stuck or losing focus on your goals, this may help you get back on track?

13The head of household should always discuss this with the family when setting family financial goals?

14Which of these best describes a “Revolving Savings” account?

15Why do we recommend the Revolving Savings account be your first savings account in place?

16Which of these is the recommended approach to building savings accounts?

17What is the general rule of thumb for the size of an emergency savings, but each household will have different needs and this is just a basic rule?

18Your emergency savings account should be invested in what?

19It would be wise to have your emergency savings in an account that is?

20Your emergency savings should not be too large because of this?

21With a high interest checking account (4 - 5%), what will happen if you don’t meet the monthly requirements?

22Retirement accounts are usually what type of account for tax purposes?

23What is the common age most people can withdraw funds from a (tax-qualified) retirement account and not be penalized for early withdrawal?

24What is the best reason to start saving and investing for retirement at a young age?

25Albert Einstein stated that this mathematical formula was one of the most powerful mathematical discoveries of his lifetime?

26Which of these accounts would not provide the opportunity for your money to take advantage of compounding growth?

27Why is saving for college at the bottom of our savings account list?

28Which of these accounts can be used to pay for higher education costs (college)?

29According to the U.S. Department of Education, in 2009, how many borrowers of federal student loans, who attend for-profit colleges, default within three years of beginning repayment?

30Typically if you can’t pay for your student loans you can do this to eliminate them?

31When you struggle making a financial decision, or you’re stuck on your goals, what should you do?

32When reviewing your monthly budget and looking for money to save, using this may help you find where you are overspending?

33Which of these financial institutions may provide a higher interest rate for your savings?

34FDIC, which of these is correct?

35ESA, which of these is correct?

36Which of these is your financial foundation, as listed in our book?

37Which of these statements is more accurate about investing money?

38Which of these statements best describes annuities?

39Which type of annuity is typically oversold as a safe alternative to the stock market?

40Which statement best describes Mutual Funds?

41REIT, which of these is correct

42Which of these offers lower fees and more flexibility to trade?

43Which best describes diversifying your investment money?

44What is one important “key” discipline of investing that helps you preserve capital (your money)?

45What is a common saying about greedy investors and the equity Markets?

46Which of these best describes “dollar cost averaging”?

47Which of these would be considered the highest investment risk?

48This type of investment is usually purchased using leverage, more so than the others?

49In a Multi Level Marketing business who are the only people really making money?

50Because of this, your investment gain or loss in real estate will be magnified?

51Which of these would provide the greatest opportunity to achieve retirement savings goals; so at the age of 65 you would have the choice to work, or not?

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