FIN101 Final Exam Ball State University - Olga McAtee (Ch. 6-10) Questions and Answers Solved 100%
6 views 0 purchase
Course
FIN101 Ball State University - Olga McA
Institution
FIN101 Ball State University - Olga McA
401(k) Plans - plans that allow employees to make tax-favored pay deferrals toward retirement
savings through a payroll deduction plan
Actively Managed Funds - funds that are managed by professional investors who constantly "buy
low" and "sell high"
Alternative Financial System - payday loans, ...
FIN101 Final Exam Ball State University -
Olga McAtee (Ch. 6 -10) 401(k) Plans - plans that allow employees to make tax -favored pay deferrals toward retirement savings through a payroll deduction plan Actively Managed Funds - funds that are managed by professional investors who constantly "buy low" and "sell high" Alternative Financial System - payday loans, pawn shops, check cashers, etc. Auto Insurance - protects against losses to property and injuries to people in a car accident. Auto Insurance Split Limits - a provision of an insurance policy that states different maximum dollar amounts the insurer will pay for different components of a claim Bonds - certificates of debt that carry a promise to buy back the bonds at a higher price Brokerage Accounts - an account at an investment company Calculation: Emergency Fund Ratio - account savings / monthly payments = answer Calculation: FHA total fixed payments -to-income ratio.... - cannot if the ratio is greater than 43% (Are you lower than 43%?) Calculation: How much equity you have in your home... - fair market value - how much you owe = answer Calculation: How to calculate APR loan... - o 365 / pay period = answer o answer * loan charge % = answer Calculation: profit or loss of a company - gross sales - expenses = answer Cash Value Policies - cash amount offered to the policy owner by the issuing life carrier upon cancellation of the contract Contingent Beneficiary - entitled to the proceeds if the primary beneficiary dies before the insured Contribution plans - specify how much money will go into a retirement plan today Credit Unions - a nonprofit -making money cooperative whose members can borrow from pooled deposits at low interest rates. Depreciation - lessening in value Disability - any lost, absent, or impaired physical or mental function Disability Insurance Coverage - income for illness or injury leaving you unable to work for extended periods Dying Intestate - dying without a will EFTS - Electronic Funds Transfer System - a system that allows banks to transfer funds among accounts quickly and accurately without the exchange of checks Emergency Funds - money set aside or budgeted for unanticipated but necessary expenditures
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller PatrickKaylian. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
