Answer True or False for the following questions:

1. In the state of California, workers must elect to be covered by state disability.

2. The head of household filing status will receive the highest standard deduction on a federal tax return.

3. Contributions to ROTH IRA are not deductible on your tax return, however, you are exempt from income taxes when you withdraw the money from a ROTH IRA after retirement.

4. A mutual fund is a type of interest earning savings account at a bank or credit union.

5. With open-end credit, funds for credit are available on a continuous basis aka you can keep borrowing more as long as you regularly make at least partial payment.