Personal Finance - Saving And Investing For The Future - Part 2: Question Preview (ID: 1926)

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Which of the following is an advantage of investments through a brokerage firm?
a) High Rate of Return
b) Safety - Insured by FDIC
c) Liquid investments
d) Low risk

An IRA in which the contributions are not tax free, but earnings and gains remain tax free is called a
a) Traditional IRA
b) Roth IRA

If you withdraw part of the money you deposited into a Certificate of Deposit (CD) before the maturity date, you will not have to pay a penalty.
a) True
b) False

An IRA in which the contributions, gains, and earnings remain tax-free until you withdraw them is called a
a) Roth IRA
b) Traditional IRA

The amount of money you place in savings is called
a) interest
b) withdrawal
c) principle
d) liquidity

Interest computed on the principle plus accumulated interest is called
a) calculated interest
b) built-up interest
c) simple interest
d) compound interest

Which is not an example of a long-term goal?
a) home ownership
b) vacation
c) retirement
d) college education

Brokerage firms buy and sell different types of securities.
a) True
b) False

Certificates of Deposit (CDs)
a) earn a fixed interest rate for a set length of time
b) do not require a minimum deposit
c) is more liquid than a regular savings account
d) usually has a lower interest rate than a regular savings account

FDIC and NCUA insure accounts up to
a) $500,000
b) $5,000
c) $20,000
d) $100,000

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