Q1

A Durable Power of Attorney is

A. A legal document that transfers assets pursuant to your wishes.

B. A Legal Entity that holds title to your assets

C. A document that allows an agent to act on your behalf for financial transactions

D. A document that allows and agent to make health care decisions for you (This was my answer. It was INCORRECT)

E. None of the above

Q2

Jane contributes 10% of her $40,000 salary to a traditional 401(k). Her company matches 100% of her contributions up to 8% and 50% of the next 5% of her contribution. How much will her company contribute to her 401(k) account?

A. $4,000

B. $3,600

C. $3,200

D. $4,200 [This was my answer. It was INCORRECT - My work to get it: (40,000 * .08) + (40,000 * .025) = 4,200]