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General Financial Literacy Course - Utah, Financial Literacy State Test Questions and Correct Answers | Latest Update $13.49   Add to cart

Exam (elaborations)

General Financial Literacy Course - Utah, Financial Literacy State Test Questions and Correct Answers | Latest Update

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  • Course
  • General Financial Literacy
  • Institution
  • General Financial Literacy

401k -:- Qualified plan for employees to make contributions on a post-tax or pretax basis with possible employer contributions and tax-deferred earnings. 403(b) -:- Retirement plan for nonprofit organizations 529 Plans -:- Tax-advantaged savings plans like the Utah Educational Savings P...

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  • September 17, 2024
  • 41
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • General Financial Literacy
  • General Financial Literacy
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2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!




General Financial Literacy Course - Utah,
Financial Literacy State Test Questions
and Correct Answers | Latest Update
401k


✓ -:- Qualified plan for employees to make contributions on a post -tax or

pretax basis with possible employer contributions and tax -deferred

earnings.




403(b)


✓ -:- Retirement plan for nonprofit organizations




529 Plans


✓ -:- Tax-advantaged savings plans like the Utah Educational Savings Plan

(UESP) for higher education costs.




Advertising


✓ -:- Calling public attention to desirable qualities to create a desire to

buy or do business.




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,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!



Amortization Table/Schedule


✓ -:- Payment schedule showing principal and intere st amounts for each

payment.




Annual Percentage Rate (APR)


✓ -:- Cost of borrowing money on an annual basis; includes interest rate

and related fees on a loan




Bank


✓ -:- Financial institution licensed to receive deposits, including

commercial/retail and investment banks.




Bankruptcy


✓ -:- Legal proceeding for individuals or businesses unable to repay debts,

initiated by debtor or creditors.




Beneficiary


✓ -:- Person who benefits from something, such as receiving insurance

money.


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,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!




Benefits


✓ -:- Non-wage compensation provided to employees, including housing,

insurance, retirement benefits, and more to enhance economic security.




Budget


✓ -:- A written cash flow plan




Career


✓ -:- Profession or field of employment for which one trains.




Certificate of Deposit (CD)


✓ -:- A savings certificate entitling the bearer to receive interest. CDs

have a maturity date, a fixed interest rate, and can be issued in any

denomination.




Charitable Contributions


✓ -:- Money given to a charitable organization to benefit society.




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, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!




Chex-Systems


✓ -:- A network of financial institutions sharing information on closed

accounts to assess account opening risk.




Closing Costs


✓ -:- Fees paid at the closing of a real estate transaction.




Co-signers


✓ -:- Signing for another person's debt, legally obligating payment if the

person defaults.




Collateral


✓ -:- Security pledged for the payment of a loan.




Commissions


✓ -:- A service charge assessed by a broker or investment advisor.




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