Chapter 14 Test A

Chapter 14 Test A - Chapter 14 Test A 1 The need for...

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1 Chapter 14 Test A 1. The need for retirement planning is increased by the uncertainties of a. inflation. b. social security benefits. c. the assets you hold. d. your pension benefits. e. all of these. 2. The major financial benefit of beginning your retirement funding early is related to a. increased cost of living. b. compound interest. c. reduced anxiety. d. inflation. e. investment returns. 3. The first step in retirement planning is to a. determine how large a nest egg is required. b. consider your longevity. c. define your investment program. d. determine your income-earning assets. e. set retirement goals 4. When setting retirement goals you should consider a. what you want to do in retirement. b. your expected standard of living. c. your proposed level of income. d. special retirement activities and projects. e. all of these. 5. Short-term retirement planning usually involves a. 3 to 5 year time horizons. b. waiting until age 50 to start planning. c. the need to save large amounts annually. d. the use of more risky investments. e. reducing inflation projections. 6. The portion of the principal and interest of an annuity that has not been paid to the annuitant prior to death is the ____ benefit. a. principal
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Chapter 14 Test A - Chapter 14 Test A 1 The need for...

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