What is the federal government program we pay into each paycheck for future retirement benefits?
a. 401k
b. Roth IRA
c. Social Security
d. W2

Which of the following is a benefit of having a CD (Certificate of Deposit)?
a. You pay a penalty for early withdrawals.
b. You can earn a higher interest rate than with a regular savings account.
c. Interest rates during the term of the CD adjust with inflation.

As inflation increases, it causes the money you earn today to have _____.
a. more value in the future
b. less value in the future

Your boss is impressed with your work and gives you a 3% raise. If the inflation rate is 3%, you are _____.
a. making more money in today’s dollars
b. making about the same amount of money in today's dollars
c. making less money in today's dollars
d. seeing no change in your paycheck

A 401k is a type of _____.
a. CD
b. checking account
c. optional retirement account
d. regular savings account

At what age can you withdraw from your 401k without any penalties?
a. 59 1/2
b. 65
c. 55
d. at any time

If you withdraw $25,000 from your 401k at an early age and incur the 10% penalty, how much would the penalty be?
a. $250
b. $25
c. $2,500
d. $5,000
You have $7,000 to put into a savings account. The interest rate for a CD is 5%. How much would you have in your account after 1 year?
a. $350
b. $500
c. $6,650
d. $7,350

You have $7,000 to put into a savings account. The interest rate for a regular savings account is 3%. How much would you have in your account after 1 year?
a. $210
b. $300
c. $6,790
d. $7,210

You have $7,000 to put into a savings account. The interest rate for a regular savings account is 3%. The interest rate for a CD is 5%. Which account should you choose to put your money in?
a. the regular savings account because the interest is $140 more
b. the CD because the interest is $140 more
c. the regular savings account because the interest is $1,000 more
d. the CD because the interest is $1,000 more