Choose wisely. There is only one correct answer to each question.
0%
Keep studying!
Review your answers below to learn more.
1.
Most mutual funds may charge you a front-end load. This is to cover _______.
Buying shares. Front-end loads pay for brokers buying shares for you.
2.
Fees for optional services in your 401(k) plan would be paid by _______.
You only. Others do not pay for optional services that you use.
3.
If you take advantage of an optional feature in a 401(k) plan, do you pay for it on your own or does the plan cover it as part of your normal expenses?
You pay for it on your own. Optional features are paid for by you.
4.
All fees levied on your 401(k) plan must be paid by you.
False. Some fees are paid by your employer.
5.
Your 401(k) plans annual report details the expenses that you paid individually for your plan.
False. The annual report is a general document that covers the 401(k) plan overall. You should consult your account statement for information on any fees that you paid individually.
6.
401(k) plan fees will have a negligible effect on your account balance over many years.
False. Over many years, even small fees will really eat into your account balance.