Section II – Knowledge Check 1. Which of the following would be considered a need rather than a want:* A. Body art B. Reliable transportation C. Dining out D. Cable TV package 2. The following are indications an investment may be a scam or, at the very least, requires heightened due diligence except:* A. Quoted returns are abnormally high and consistent B. The investment is complex or too difficult to explain to someone else C. The person recommending the investment is not willing to explain the investment strategy to your accountant or attorney D. The person recommending the investment cannot guarantee the returns 3. All of the following are reasons to go to college except:* A. The school advisor guarantees you’ll qualify for a student loan B. Increased pay and benefits from intended career C. Positive net present value of future career income D. Career satisfaction 4. Questions to ponder prior to enrolling in college include all of the following except:* A. What is my intended career? B. Social media recognition C. What education, credential, or skill is required for my desired career? D. What will the job market look like after graduation? 5. Benefits of a 529 plan include all of the following except:* A. Tax-free growth if used for qualified higher education expenses B. 529 plans are portable from state to state C. Possible state income tax deduction D. If child does not attend college 529 funds can be withdrawn tax-free after age 35 6. Which of the following is a benefit of purchasing U.S. savings bonds to fund higher education:* A. Can be purchased in denominations as low as $25 B. Tax free growth C. No penalty for early withdrawal D. High rate of interest paid 7. Doing good versus feeling good is an amalgam of all of the following concepts except:* A. The Rule of 72 B. Opportunity cost C. Pragmatism D. Division of labor 8. All of the following can lead to better time management except:* A. Prioritization of tasks B. Use a schedule C. Respond to every call and text immediately D. Delegate when appropriate 9. KISS is an acronym for:* A. Knowledge is supremely significant B. Keen intelligence signifies skill C. Keep it super sensible D. Keep it simple, stupid 10. All of the following are vehicles that could be used to save for a child’s college education except a:* A. Uniform Transfer to Minors Act (UTMA) account B. 529 Plan C. Defined Education Benefit Plan (DEBP) D. Coverdell Education Savings Account (ESA)