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GEB 3006 FINAL Questions with Correct Answers
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GEB 3006 FINAL Questions with Correct Answers
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GEB 3006 FINAL Questions with Correct AnswersEmployer benefits can be worth up to ___ of your base salary Correct
Answer-50%
Generally the two main employer benefits with the highest value are:
Correct Answer-Retirement Health Plans
The health plans that offers the most choice in doctors and has the
highest cost Correct Answer-PPO
Which of the following health plans generally requires that you first see
your primary care physician and remain within a restricted network of
doctors? Correct Answer-HMO
Employees without a pension plan should try to save at least _____ of
their salary Correct Answer-10-15%
Fidelity Investments recommends that individuals without pensions have
about ___ times their salary at age 67 in order to have a sufficient
amount of money to retire.` Correct Answer-10
Fidelity Investments recommends that individuals without pensions have
about ___ times their salary at age 30 in order to have a sufficient
amount of money to retire. Correct Answer-1
At what age will you become eligible for Medicare? Correct Answer-65
, At what age are you eligible for early Social Security? Correct Answer-
62 and the amount received is a discounted benefit compared to the full
retirement benefit
Which health plan has a low cost but high deductible? Correct Answer-
HDHP
The rules for flexible spending accounts generally require that
employees use the money within Correct Answer-the current year or
lose unused savings.
When you leave your job, you should always rollover your Correct
Answer-401-K assets to a self directed rollover IRA.
Between 1990 and 2010, the average US savings rate was around
Correct Answer-5%
What two factors count for 65% of your FICO score? Correct Answer-
Payment history and outstanding debts
Which company has developed the MOST commonly used credit score
to evaluate an individual's credit? Correct Answer-Fair Isaac
Corporation
You should try to achieve a FICO score of at least Correct Answer-760
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