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Challenge

When interest rates go up, the value of your current bonds on the market _______.

Goes up

Goes down

Stagnates

Goes up or stagnates

Distributions from a 401(k) plan may be made for a first-time home purchase.

True

False

In a tax swap, an investor sells a security that has made a capital gain and buys another similar security.

True

False

When calculating your future retirement income needs, you must consider inflation.

True

False

Which of the following is true when a person dies without a will?

The probate court judge is authorized to divide the person's property, using the judge's best discretion.

Without a will, the decedent's debts become the personal responsibility of the next of kin.

State law dictates who among the decedent's survivors gets what share of the estate.

Earnings on annuity contributions are tax-free.

True

False

If a security is more volatile than the market, it has a beta _______.

Greater than 1

Less than 1

Equal to 1

If you are still contributing to your IRA plan when you are 72 years old, you must have _______.

A traditional IRA

A Roth IRA

Neither of the above

Earnings on annuity contributions are tax-free.

True

False

Which of the following statements is true?

Naming one of several adult children as successor trustee is invariably a mistake.

When using a third party or institution as the trustee of a revocable living trust, the grantor retains control by maintaining authority over the trustee.

If the grantor of a revocable living trust chooses an institution as trustee, as opposed to a family friend, it becomes very difficult to replace the trustee without going to court.

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