//Pacific Life Quiz Text cRetirementPlannerWebAddress ="http://www.pacificlife.com/Channel/Educational+Information/Calculators/Retirement+Planning+Calculator.htm" cInvestQuiz = 0; cLifeExpQuiz = 1; cIntroMode = 0; cQuestionMode = 1; cAnswerMode = 2; cFinalResultMode = 3; var cIntroText = new Array(); cIntroText[cInvestQuiz] = "This quiz is intended for you to conduct a basic self-assessment of your investment knowledge. For a more in-depth and overall analysis of your specific situation and needs, and to gain a better understanding of the various investment options available to you, please contact a financial professional. Additionally, Pacific Life does not render tax or legal advice. Please consult with your attorney, accountant and/or tax advisor for advice concerning your particular circumstances." + "

Variable insurance products issued by Pacific Life Insurance Company are distributed by Pacific Select Distributors, Inc. (member NASD & SIPC), a subsidiary of Pacific Life, and are available through licensed third party broker-dealers. Pacific Life Insurance Company is licensed to solicit individual life insurance and annuity products in all states except New York. Product availability and features may vary by state." + "

Pacific Funds are distributed by Pacific Select Distributors, Inc. (member NASD & SIPC), a subsidiary of Pacific Life Insurance Company, and are available through licensed third party broker-dealers."; cIntroText[cLifeExpQuiz] = "Understanding how long we might live is a critical component of financial planning. Our retirement nest egg should last at least as long as we do." + "

Due to advances in the medical fields, and our improved understanding of health & fitness, we are living much longer today than in the past. How long will your retirement assets need to last? Take this informative quiz to learn more." + "

This quiz is intended for you to conduct a basic self-assessment of your knowledge regarding life expectancy. Pacific Life does not render health advice. Please consult your physician concerning your particular health condition."; var cTitle = new Array(); cTitle[cInvestQuiz] = 'Investment Knowledge Quiz'; cTitle[cLifeExpQuiz] = 'Life Expectancy Quiz'; var cButtonText = new Array(); cButtonText[cInvestQuiz] = 'Continue >>'; cButtonText[cLifeExpQuiz] = 'Continue >>'; var cMaxQuestion = new Array(); cMaxQuestion[cInvestQuiz] = 10; cMaxQuestion[cLifeExpQuiz] = 10; var cQuestion = new Array(); cQuestion[cInvestQuiz] = new Array(); cQuestion[cInvestQuiz][1] = "Which of these investments can provide you with a guaranteed steady stream of income that cannot be outlived?"; cQuestion[cInvestQuiz][2] = "Which of these investments offer tax-deferred growth?"; cQuestion[cInvestQuiz][3] = "Let's consider tax-deferred investments versus taxable investments. Say you are in a high tax bracket and have $100,000 to invest today (earning 8% annually) and plan to let it grow for 30 years. Which of the statements below would be correct?" cQuestion[cInvestQuiz][4] = "If the value of your investment declines by 60%, what percentage increase is needed to break-even?"; cQuestion[cInvestQuiz][5] = "Which of these investments have risk of losing value?"; cQuestion[cInvestQuiz][6] = "Which of these investments would you probably choose if you were adverse to risk?"; cQuestion[cInvestQuiz][7] = "Monique contributes 15% of each paycheck to her 401(k) and diversifies her investment among different asset classes. Monique utilizes which investment principle?"; cQuestion[cInvestQuiz][8] = "Which of these products can accumulate a cash value and can grow tax-deferred?"; cQuestion[cInvestQuiz][9] = 'The process of "short selling" involves:'; cQuestion[cInvestQuiz][10] = "Which U.S. President's portrait is currently printed on $1,000 bills?"; cQuestion[cLifeExpQuiz] = new Array(); cQuestion[cLifeExpQuiz][1] = "The federal government recently announced that US life expectancies rose to record levels." + " What are the current life expectancies (from birth) for men and women?"; cQuestion[cLifeExpQuiz][2] = "The previous question addressed life expectancies projected from birth." + " Now, assume a person is currently 65 years of age, in good health, and living a healthy lifestyle." + " What is this person's life expectancy?"; cQuestion[cLifeExpQuiz][3] = "Consider our healthy 65 year-old again. What age should a retirement plan assume to ensure there is at least a 75% chance that his or her retirement assets will last to the end of his or her life?" ; cQuestion[cLifeExpQuiz][4] = "Consider two healthy 65 year-olds married to each other. Which of the following is correct?"; cQuestion[cLifeExpQuiz][5] = "In the past few questions we saw that healthy 65 year-olds with healthy lifestyles can enjoy many more years. Plus, we know that healthy lifestyles are important, but many of us find it hard to make lifestyle changes. One rationalization some people make is that genetics play a huge role in how long we live. What role do your genes play in life expectancy?"; cQuestion[cLifeExpQuiz][6] = "The next several questions will focus on life expectancy factors over which you do have control. What percentage of deaths in the U.S. are attributable to tobacco products?"; cQuestion[cLifeExpQuiz][7] = "What percentage of all deaths in the U.S. are attributable to cancer and/or cardiovascular diseases (heart disease and stroke)?"; cQuestion[cLifeExpQuiz][8] = "About one third of all cancer deaths are caused by tobacco products. Of the remaining two thirds, what percentage are preventable through healthy diet and exercise?"; cQuestion[cLifeExpQuiz][9] = "What percentage of deaths that are caused by heart disease are actually preventable through a healthy lifestyle?"; cQuestion[cLifeExpQuiz][10] = "Life expectancies in the U.S. have been steadily increasing each decade. Recently, scientists have raised concern that the obesity epidemic in the U.S. could reverse this progress and actually decline by five years from current levels. Which chart below shows the correct trend of overweight and obesity in the US for adults age 20 to 74?"; var cCorrectAnswer = new Array(); cCorrectAnswer[cInvestQuiz] = new Array(); cCorrectAnswer[cInvestQuiz][1] = 2; cCorrectAnswer[cInvestQuiz][2] = 4; cCorrectAnswer[cInvestQuiz][3] = 1; cCorrectAnswer[cInvestQuiz][4] = 3; cCorrectAnswer[cInvestQuiz][5] = 4; cCorrectAnswer[cInvestQuiz][6] = 1; cCorrectAnswer[cInvestQuiz][7] = 4; cCorrectAnswer[cInvestQuiz][8] = 2; cCorrectAnswer[cInvestQuiz][9] = 1; cCorrectAnswer[cInvestQuiz][10] = 4; cCorrectAnswer[cLifeExpQuiz] = new Array(); cCorrectAnswer[cLifeExpQuiz][1] = 2; cCorrectAnswer[cLifeExpQuiz][2] = 3; cCorrectAnswer[cLifeExpQuiz][3] = 3; cCorrectAnswer[cLifeExpQuiz][4] = 2; cCorrectAnswer[cLifeExpQuiz][5] = 3; cCorrectAnswer[cLifeExpQuiz][6] = 2; cCorrectAnswer[cLifeExpQuiz][7] = 1; cCorrectAnswer[cLifeExpQuiz][8] = 1; cCorrectAnswer[cLifeExpQuiz][9] = 1; cCorrectAnswer[cLifeExpQuiz][10] = 3; var cMaxChoice = new Array(); cMaxChoice[cInvestQuiz] = new Array(); cMaxChoice[cInvestQuiz][1] = 4; cMaxChoice[cInvestQuiz][2] = 4; cMaxChoice[cInvestQuiz][3] = 4; cMaxChoice[cInvestQuiz][4] = 4; cMaxChoice[cInvestQuiz][5] = 4; cMaxChoice[cInvestQuiz][6] = 4; cMaxChoice[cInvestQuiz][7] = 4; cMaxChoice[cInvestQuiz][8] = 4; cMaxChoice[cInvestQuiz][9] = 4; cMaxChoice[cInvestQuiz][10] = 4; cMaxChoice[cLifeExpQuiz] = new Array(); cMaxChoice[cLifeExpQuiz][1] = 3; cMaxChoice[cLifeExpQuiz][2] = 3; cMaxChoice[cLifeExpQuiz][3] = 3; cMaxChoice[cLifeExpQuiz][4] = 3; cMaxChoice[cLifeExpQuiz][5] = 4; cMaxChoice[cLifeExpQuiz][6] = 4; cMaxChoice[cLifeExpQuiz][7] = 4; cMaxChoice[cLifeExpQuiz][8] = 4; cMaxChoice[cLifeExpQuiz][9] = 4; cMaxChoice[cLifeExpQuiz][10] = 3; var cChoice = new Array(); cChoice[cInvestQuiz] = new Array(); for (j = 1; j <= cMaxQuestion[cInvestQuiz]; j++) { cChoice[cInvestQuiz][j] = new Array; } cChoice[cInvestQuiz][1][1] = "Mutual fund"; cChoice[cInvestQuiz][1][2] = "Annuity"; cChoice[cInvestQuiz][1][3] = "Stocks"; cChoice[cInvestQuiz][1][4] = "Certificate of Deposit"; cChoice[cInvestQuiz][2][1] = "Municipal bonds"; cChoice[cInvestQuiz][2][2] = "Stock dividends"; cChoice[cInvestQuiz][2][3] = "Mutual Funds"; cChoice[cInvestQuiz][2][4] = "Annuities"; cChoice[cInvestQuiz][3][1] = "The tax-deferred investment would grow to be larger than the taxable investment"; cChoice[cInvestQuiz][3][2] = "The taxable investment would grow to be larger than the tax-deferred investment"; cChoice[cInvestQuiz][3][3] = "The tax-deferred investment would grow to be more than twice the taxable investment"; cChoice[cInvestQuiz][3][4] = "None of the above are correct"; cChoice[cInvestQuiz][4][1] = "60%"; cChoice[cInvestQuiz][4][2] = "120%"; cChoice[cInvestQuiz][4][3] = "150%"; cChoice[cInvestQuiz][4][4] = "180%"; cChoice[cInvestQuiz][5][1] = "Mutual funds"; cChoice[cInvestQuiz][5][2] = "Blue chip stocks"; cChoice[cInvestQuiz][5][3] = "High-yield bonds"; cChoice[cInvestQuiz][5][4] = "They all have risk of losing value"; cChoice[cInvestQuiz][6][1] = "U.S. Treasuries"; cChoice[cInvestQuiz][6][2] = "Indexed mutual funds"; cChoice[cInvestQuiz][6][3] = "Corporate bonds"; cChoice[cInvestQuiz][6][4] = "I'd stuff my money in a mattress"; cChoice[cInvestQuiz][7][1] = "Dollar cost averaging"; cChoice[cInvestQuiz][7][2] = "Tax-deferral"; cChoice[cInvestQuiz][7][3] = "Asset allocation"; cChoice[cInvestQuiz][7][4] = "All of the above"; cChoice[cInvestQuiz][8][1] = "Long term disability insurance"; cChoice[cInvestQuiz][8][2] = "Variable life insurance"; cChoice[cInvestQuiz][8][3] = "Savings account at your bank"; cChoice[cInvestQuiz][8][4] = "Mutual funds"; cChoice[cInvestQuiz][9][1] = "Selling stock that was borrowed from someone else"; cChoice[cInvestQuiz][9][2] = "Hoping the stock's value will rise in a very short period of time"; cChoice[cInvestQuiz][9][3] = "Selling a stock short of its forecasted high"; cChoice[cInvestQuiz][9][4] = "None of the answers are correct!"; cChoice[cInvestQuiz][10][1] = "Grover Cleveland"; cChoice[cInvestQuiz][10][2] = "Woodrow Wilson"; cChoice[cInvestQuiz][10][3] = "Benjamin Franklin"; cChoice[cInvestQuiz][10][4] = "$1,000 bills are no longer being printed"; cChoice[cLifeExpQuiz] = new Array(); for (j = 1; j <= cMaxQuestion[cLifeExpQuiz]; j++) { cChoice[cLifeExpQuiz][j] = new Array; } cChoice[cLifeExpQuiz][1][1] = "Life expectancy for men is 72." + IndentLine(12) + "Life expectancy for women is 76"; cChoice[cLifeExpQuiz][1][2] = "Life expectancy for men is 75." + IndentLine(12) + "Life expectancy for women is 80"; cChoice[cLifeExpQuiz][1][3] = "Life expectancy for men is 80." + IndentLine(12) + "Life expectancy for women is 85"; cChoice[cLifeExpQuiz][2][1] = "Life expectancy for men is 78." + IndentLine(12) + "Life expectancy for women is 82"; cChoice[cLifeExpQuiz][2][2] = "Life expectancy for men is 82." + IndentLine(12) + "Life expectancy for women is 85"; cChoice[cLifeExpQuiz][2][3] = "Life expectancy for men is 85." + IndentLine(12) + "Life expectancy for women is 89"; cChoice[cLifeExpQuiz][3][1] = "Age 87 for men" + IndentLine(12) + "Age 90 for women"; cChoice[cLifeExpQuiz][3][2] = "Age 89 for men" + IndentLine(12) + "Age 92 for women"; cChoice[cLifeExpQuiz][3][3] = "Age 92 for men" + IndentLine(12) + "Age 95 for women"; cChoice[cLifeExpQuiz][4][1] = "50% chance that at least one spouse will live to 85" + IndentLine(12) + "25% chance that at least one spouse will live to 89" + IndentLine(12) + "10% chance that at least one spouse will live to 97"; cChoice[cLifeExpQuiz][4][2] = "50% chance that at least one spouse will live to 93" + IndentLine(12) + "25% chance that at least one spouse will live to 97" + IndentLine(12) + "10% chance that at least one spouse will live to 101"; cChoice[cLifeExpQuiz][4][3] = "50% chance that at least one spouse will live to 99" + IndentLine(12) + "25% chance that at least one spouse will live to 103" + IndentLine(12) + "10% chance that at least one spouse will live to 105"; cChoice[cLifeExpQuiz][5][1] = "50%"; cChoice[cLifeExpQuiz][5][2] = "40%"; cChoice[cLifeExpQuiz][5][3] = "30%"; cChoice[cLifeExpQuiz][5][4] = "10%"; cChoice[cLifeExpQuiz][6][1] = "25%"; cChoice[cLifeExpQuiz][6][2] = "20%"; cChoice[cLifeExpQuiz][6][3] = "15%"; cChoice[cLifeExpQuiz][6][4] = "10%"; cChoice[cLifeExpQuiz][7][1] = "58%"; cChoice[cLifeExpQuiz][7][2] = "48%"; cChoice[cLifeExpQuiz][7][3] = "38%"; cChoice[cLifeExpQuiz][7][4] = "28%"; cChoice[cLifeExpQuiz][8][1] = "50% preventable"; cChoice[cLifeExpQuiz][8][2] = "40% preventable"; cChoice[cLifeExpQuiz][8][3] = "30% preventable"; cChoice[cLifeExpQuiz][8][4] = "20% preventable"; cChoice[cLifeExpQuiz][9][1] = "50% preventable"; cChoice[cLifeExpQuiz][9][2] = "40% preventable"; cChoice[cLifeExpQuiz][9][3] = "30% preventable"; cChoice[cLifeExpQuiz][9][4] = "20% preventable"; cChoice[cLifeExpQuiz][10][1] = ""; cChoice[cLifeExpQuiz][10][2] = ""; cChoice[cLifeExpQuiz][10][3] = ""; var cAnswer = new Array(); cAnswer[cInvestQuiz] = new Array(); cAnswer[cInvestQuiz][1] = "If you choose to convert your annuity contract to an income stream, you can receive a steady payout. This income stream can be guaranteed for a certain period of time, for your lifetime and the lifetime of your spouse, or for a combination of the two." + "

You should carefully consider an annuity's risks, charges, limitations and expenses, as well as the risks, charges, expenses and investment objectives of the underlying investment options in a variable annuity. Withdrawals and other distributions of taxable amounts, including death benefit payments, will be subject to ordinary income tax. If withdrawals and other distributions are taken prior to age 59 1/2, a 10% federal tax penalty may apply. A withdrawal charge may also apply. Guarantees are subject to the claims-paying ability of the insurer."; cAnswer[cInvestQuiz][2] = "Annuity earnings grow tax-deferred. On the other hand, earnings on most municipal bonds are tax-free (federal), not tax-deferred. When managers of mutual funds sell holdings within a fund, it triggers a taxable event for the investor. While stock's value can grow tax-deferred (for the duration they are held), their dividends are taxed in the year they are distributed." + "

It's important to know that qualified plans such as 401(k)s, as well as IRAs, are already tax-deferred. Therefore, an annuity contract should be used to fund an IRA or qualified plan to benefit from the annuity's features other than tax deferral. The other benefits of using a variable annuity to fund a qualified plan or an IRA include the lifetime income options, death benefit options and the ability to transfer among investment options without sales or withdrawal charges. The federal and state income tax laws regarding variable annuities are complex and subject to change. Representations made herein are neither complete nor necessarily up-to-date. For example, no attempt is made to describe the tax rules related to IRAs and other qualified plans. Contracts owned by entities, such as corporations, partnerships and certain trusts are not eligible for tax deferral. Neither Pacific Life nor its representatives give tax or legal advice. You should consult your tax adviser and attorney regarding your specific situation. "; cAnswer[cInvestQuiz][3] = "$100,000 invested over a 30-year period at 8% compounded annually would grow to $1,006,266 with taxes deferred. Once taxes are paid on the lump-sum distribution, the amount received is $707,198 — still much more than the $478,931 earned on a taxable investment over the same time frame." + "

Assumes a 33% ordinary income tax assessed yearly on taxable investment and at period end on tax-deferred investment. Actual tax rates may vary for different taxpayers and assets (e.g., capital gains and qualified dividend income) from that illustrated. Actual performance of your investment will also vary. Lower maximum tax rates on capital gains and dividends would make the investment return for the taxable investment more favorable, thereby reducing the difference in performance between the investments shown. Consider your personal investment horizon and income tax brackets, both current and anticipated, when making an investment decision. Hypothetical returns are not guaranteed and do not represent performance of any particular investment. If charges relative to certain annuities were included, the tax-deferred performance would have been lower. If a withdrawal or distribution is taken before age 59 1/2, a 10% federal tax penalty may apply."; cAnswer[cInvestQuiz][4] = "Initial investment = $10. It drops by 60% leaving you with $4. $4 X 150% = $6. $6 + $4 = $10 (break-even)"; cAnswer[cInvestQuiz][5] = ""; cAnswer[cInvestQuiz][6] = "Corporations can default on bond payments while rising interest rates have a negative affect on their price. Indexed mutual funds simply track an index such as the S&P 500, which goes up and down daily. U.S. Treasuries have the full backing of the U.S. Government and are considered among the safest of all investments. While stuffing your mattress would certainly minimize market risk, it would expose you to inflation risk (diminishing the value of your savings)."; cAnswer[cInvestQuiz][7] = "By contributing to her 401(k) on a regular basis (i.e., each paycheck), Monique is purchasing shares at various prices…sometimes higher and sometimes lower, a process known as dollar cost averaging. By diversifying among various investments and asset classes, she is accomplishing a principle known as asset allocation. Lastly, the earnings in a 401(k) are tax-deferred."; cAnswer[cInvestQuiz][8] = "Variable life insurance is a form of life insurance under which the death benefit and the cash value of the policy generally fluctuate according to the investment performance of a separate account fund. Some variable life insurance policies guarantee that the death benefit will not fall below a specified minimum. The cash value generally grows tax-deferred."; cAnswer[cInvestQuiz][9] = "Short selling is done in the hopes the price of a stock will go down, and is accomplished by selling stock that is borrowed from someone else. For example, let's say you borrow a share of stock currently valued at $100. You immediately sell the borrowed share for $100 (the current market price). You now have $100 in your account. Then, let's say the price of the share drops to $50. So, you buy it at $50 and return it to the lender " + '("cover your short position"). ' + "The lender has their stock back, and you have $50 (less any commission and borrowing fees of course). Note: short selling is very risky!"; cAnswer[cInvestQuiz][10] = ""; cAnswer[cLifeExpQuiz] = new Array(); cAnswer[cLifeExpQuiz][1] = "The three biggest causes of death (heart disease, cancer, and stroke) declined significantly." cAnswer[cLifeExpQuiz][2] = "For a healthy 65 year-old woman, that could mean 24 years in retirement assuming she retires at age 65." + " For a healthy man, it could mean 20 years in retirement assuming he retires at age 65 -- a significant amount of time that retirement savings must last."; cAnswer[cLifeExpQuiz][3] = "25% of healthy 65 year old men are expected to live to at least age 92 and 25% of healthy 65 year old women are expected to live to at least age 95.

75% is a fairly modest goal. Increasing the chance of not outliving your assets to 90% would result in ages of 97 for men and 100 for women. Yes, 10% of healthy 65 year old women are expected to live until 100!"; cAnswer[cLifeExpQuiz][4] = "As you can see, living a long time is not unusual. Does your retirement plan take into account the possibility of living a long time?" cAnswer[cLifeExpQuiz][5] = "About 30% of the differences in life expectancy can be explained through family history"; cAnswer[cLifeExpQuiz][6] = "20% of all deaths in the US are attributed to tobacco products."; cAnswer[cLifeExpQuiz][7] = "Heart disease accounts for 28% of all deaths.
Stroke accounts for 7% of all deaths.
Cancer accounts for 23% of all deaths."; cAnswer[cLifeExpQuiz][8] = "Cancer prevention recommendations from the Mayo Clinic:

" + ""; cAnswer[cLifeExpQuiz][9] = "Cardiovascular disease prevention recommendations from the Mayo Clinic:

" + "" + "You have the power to greatly reduce your risk of cardiovascular disease, whether it's heart disease, coronary artery disease, or coronary heart disease - or any of their numerous incarnations."; cAnswer[cLifeExpQuiz][10] = "Overweight and obese individuals (BMI of 25 and above) are at increased risk for many physical ailments:" + ""; var cQuestionLetter = new Array(); cQuestionLetter[1] = "A"; cQuestionLetter[2] = "B"; cQuestionLetter[3] = "C"; cQuestionLetter[4] = "D"; cQuestionLetter[5] = "E"; cQuestionLetter[6] = "F"; cQuestionLetter[7] = "G"; var cFinalText = new Array(); cFinalText[cInvestQuiz] = "Thank you for taking the quiz!"; cFinalText[cLifeExpQuiz] = "Thank you for taking the quiz! We hope that you found it informative. Armed with the information presented in the quiz, you may wish to proceed to the " + "retirement planning calculator." + "

Resources used to develop this quiz:" + "";