Wednesday, May 23, 2012
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Retirement Quizzes
What are the factors that influence the amount payable under a pension plan?
(a) Age of retirement
(b) Level of compensation
(c) Years of service
(d) All of the above
The federal law that governs the creation and operation of pension plans is called:
(a) ERISA
(b) PBGC
(c) The Pension Act of 1968
(d) ESOP
Which is correct with respect to wills?
(a) Wills must be prepared by lawyers
(b) Wills cannot name a guardian for your children
(c) Wills can set forth specific bequeaths of assets
(d) Wills must be notarized to be legally effective
A retirement plan in which a fixed amount is paid to the employee after a certain number of years of service is called:
(a) Defined benefit pension plan
(b) Annuity plan
(c) Defined benefit contribution plan
(d) Company social security plan
Retirement income received by an employee from a company is:
(a) Tax free
(b) Taxed at capital gains rates
(c) Not taxable if the recipient is over 72 years old
(d) Taxable at ordinary income rates
Retirement income paid by a company to an employee is referred to as:
(a) Social security
(b) Disability pay
(c) Pension
(d) Deferred annuity payments
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Word of the Day
Short Interest
"Short interest" is the total number of shares of a company that have been sold short...
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