Monetact Pre-Assessment

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Monetact Pre-Assessment Quiz

Test your knowledge and understanding of financial topics that are essential for making informed decisions. This quiz covers a range of subjects including Social Security, investments, health care costs, and more.

Prepare yourself with these key areas:

Social Security Benefits
Tax Deductions
Investment Strategies
Loan Interest Rates
Health Care Expenses

10 Questions2 MinutesCreated by CalculatingInvestor527

What’s the maximum amount of Social Security income that’s subject to federal income taxes?

50 percent

85 percent

100 percent

None of it is subject to federal income taxes.

Which of the following single taxpayers is entitled to claim the largest standard deduction?

A 64-year-old who is confined to a wheelchair

A 68-year-old who is confined to a wheelchair

A healthy 70-year-old

A 72-year-old who is legally blind

Which feature do Exchange-Traded Funds (ETFs) have in common with mutual funds?

They can be traded at any time

They are both deliberately confusing

One investment purchases a group of assets

They are tied to an index

What is the best course of action when faced with two stocks, one gaining value, the other losing value?

Sell them both if you have a net profit

Sell the losing stock and hold onto the winning stock

Sell the winning stock, take the profit, and wait for the losing stock to regain its value

Buy more of the losing stock to lower your average cost

You will likely receive a better interest rate on a loan if you:

Put down a larger down payment

Have a high FICO score

Select a loan that has a shorter loan term

All of the above

When you obtain a "line of credit" from a lender, you

Are able to borrow any amount up to a maximum at your discretion. You pay interest only on the amount borrowed and have flexible repayment terms

Borrow a set amount and repay it in fixed monthly installments over a defined term

Borrow a small amount on a short-term basis and secure that loan against your next pay check

None of the above

How much will the typical married couple retiring at age 65 spend on out-of-pocket costs for health care throughout retirement (in today’s dollars)?

If you purchase a bond and interest rates rise, what will happen to the price of the bond?

Rise

Stay the same

Fall

A typical 65-year-old man can expect to live, on average, for how many more years?

What is the average annual rate of inflation for college tuition around the country?

2 percent

5 percent

8 percent

11 percent

Monetact Pre-Assessment

Monetact Pre-Assessment Quiz

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