PLEASE ANSWER TRUE OR FALSE IN EACH QUESTION

76) The size of your Social Security benefits are determined by your number of years of earnings, your average level of earnings, and an adjustment for inflation.

77) The Federal Insurance Contributions Act isn't an investment, but rather a mandatory insurance plan that one pays into through salary deductions.

78) A disadvantage of the annuity for life plan is that the payments stop when you die, so you can't pass the money on to your heirs.

79) Most employees in the United States today are covered by an employer funded defined-benefit plan.

80) The big disadvantage with a defined-contribution plan is that you don't know in advance exactly how much money you can plan on for retirement income.

81) Social Security is a health care, retirement, disability income, and life insurance plan.

82) One of the advantages to a traditional IRA is that it allows you to make a penalty-free withdrawal to purchase your first home.

83) The Keogh plan is a retirement plan for individuals who work for large multinational corporations.

84) Estate planning is important because it protects your family against major catastrophes and helps keep taxes to a minimum.

85) A living will is a directive to a physician that allows you to state your wishes regarding medical treatment in the event you are unable to make decisions for yourself.

86) The correct equation to determine your estate's net worth is: value of your estate - level of estate's liabilities.

87) The introductory statement of a will identifies whose will it is and revokes any prior wills.

88) If you give $14,000 as a gift to someone who is not a blood relative, you will pay taxes on these funds and so will the recipient.

89) Tracking your spending for a month or so will help you plan savings.

90) Living below your means leads to a harsh, barren lifestyle with little or no pleasure in life.

91) A budget is essential for a recent college graduate with no dependents.

92) Carrying debt today is limiting your financial options in the future.

93) You should take advantage of any matching your company is willing to do for your 401(k). 9

94) By law, everyone must contribute the maximum amount into their 401(k) plans at work.

95) The executor is the individual who is responsible for carrying out the provisions of your will.

96) One in 10 American adults who do not have any elements of an estate plan in place say that they haven't created a plan because they don't want to think about dying or becoming incapacitated.

97) Studies show that there is an inverse relationship between education and playing the lottery, with 54 percent of lottery players earning less than $40,000.

98) If all contributions to your IRA are tax deductible, then all withdrawals from your IRA will be taxed, unless you're just moving your money into another IRA.

99) Through joint tenancy in common, George was able to transfer his share of his assets in a company he owns with his best friend to his son instead of to his best friend.

100) When you get married, by law you must have joint credit card accounts instead of individual accounts