Home > Benefits > Beginner
Benefits Beginner: Introduction to 401(k) Plan Fees

Test your knowledge

Choose wisely. There is only one correct answer to each question.

0%
Keep studying!
Review your answers below to learn more.
1.
You may have to pay a fee if you take out a loan from your 401(k) plan.
Choose wisely. There is only one correct answer.
True. This is an optional service, and there is often a fee for it.
2.
You should pay attention to fees in your 401(k) account because _______.
Choose wisely. There is only one correct answer.
They can affect your retirement balance greatly. Even small fees add up over the course of many years.
3.
Most mutual funds may charge you a front-end load. This is to cover _______.
Choose wisely. There is only one correct answer.
Buying shares. Front-end loads pay for brokers buying shares for you.
4.
Employers are required by law to ensure that 401(k) plan fees be reasonable.
Choose wisely. There is only one correct answer.
True. This is one of their duties under the Employee Retirement Income Security Act, or ERISA.
5.
Which 401(k) document details information about your account, as opposed to the 401(k) in its entirety?
Choose wisely. There is only one correct answer.
Account statement. The account statement covers your own plan.
6.
If your 401(k) plan is an index fund, it is _______ managed.
Choose wisely. There is only one correct answer.
Passively. Because index funds are made of the same investments that are in market indexes, they change very little.