Hello
guys plz help me answer these 7 questions its a multiple choice
i need to submit the homework tomorrow morning !!
1- In which life stage should you start an IRA?
Select one:
a. Early family life stage
b. Independent life stage
c. Empty nest life stage
d. Dependent life stage
2- Which of the following best describes a reverse mortgage?
Select one:
a. Is only available to those 60 years of age or older
b. Requires the sale of your home to benefit from the equity built up in it
c. Allows you to live in your house, have access to your equity and is available to those 62 years and older
d. Is a fixed rate mortgage, the reverse of a variable rate mortgage
3- Which of the following describes what investments are?
Select one:
a. Savings vehicles that provide the same return as certificates of deposit
b. Savings vehicles with no risk
c. A way to have your money grow faster than inflation
d. A foundation for your savings
4- Which of the following is NOT a possible problem associated with pre-paid debit cards or debit card affiliated with universities?
Select one:
a. Big fees for using out-or-network ATMs
b. Fees just to active the card
c. Hidden fees for paperwork or other issues
d. You need to shop around and understand the fine print just as with any financial instrument
5- Which of the following is the most important advantage of foregoing overdraft protection?
Select one:
a. Online bill pay or recurring payments on your debit account will not be hit with fees if you have an overdraft
b. You need to opt out of overdraft protection
c. Banks can’t charge big fees when you have an overdraft
d. Allows you spend beyond your budget and the amount in your checking account
6- Which of the following should you select for investing if you think your income taxes will be lower when you retire?
Select one:
a. Roth IRA
b. Traditional IRA
c. Certificate of deposit
d. Gold
7- You can use your money in a 529 plan for everything EXCEPT.
Select one:
a. Tuition
b. Books and mandatory fees
c. Room and board
d. Transportation to and from college