FINA 1904: Personal Finance UPDATED ACTUAL Questions and CORRECT Answers
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Course
FINA 1904
Institution
FINA 1904
FINA 1904: Personal Finance UPDATED
ACTUAL Questions and CORRECT
Answers
When parents or college students do not qualify for a federal student loan they should always
use a home equity loan. - CORRECT ANSWER- False
If anyone intends to earn a four-year degree, then spending the first two yea...
FINA 1904: Personal Finance UPDATED
ACTUAL Questions and CORRECT
Answers
When parents or college students do not qualify for a federal student loan they should always
use a home equity loan. - CORRECT ANSWER- ✔✔False
If anyone intends to earn a four-year degree, then spending the first two years at a
__________ college may be one of the most cost-effective ways to do so. - CORRECT
ANSWER- ✔✔community
A deferment is not a period of time where the student?s student loan servicer will allow him
or her to stop making payments. - CORRECT ANSWER- ✔✔False
Instead of having multiple loan payments to different student loan servicers, college students
and parents can __________ their federal student loans so they have one payment. -
CORRECT ANSWER- ✔✔consolidate
The Teacher Education Assistance for College and Higher Education Grant (TEACH Grant)
is a __________ federal student grant. - CORRECT ANSWER- ✔✔common
Many four-year colleges and their academic departments are very specific about the classes
they accept from other universities and community colleges. - CORRECT ANSWER-
✔✔true
Student financial aid is based on many factors, but never college students? and parents?
previous year?s income and assets. - CORRECT ANSWER- ✔✔false
The Free Application for Federal Student Aid (FAFSA) can be completed online only. -
CORRECT ANSWER- ✔✔false
Many colleges have a hard waiver policy, which means college students are automatically
covered and charged for health insurance. - CORRECT ANSWER- ✔✔true
,College students and parents should not assume they can eliminate federal student loans
through __________. - CORRECT ANSWER- ✔✔bankruptcy
Living off campus is usually __________ than living on campus. - CORRECT ANSWER-
✔✔cheaper
Most college student financial aid grants come from the state and federal government, such as
the Pell Grant and the Supplemental Educational Opportunity Grant. - CORRECT ANSWER-
✔✔true
Work study earnings do not impact eligibility for financial aid the following year. -
CORRECT ANSWER- ✔✔true
It is unnecessary for college students to __________ someone to help them search for grants
or scholarships. - CORRECT ANSWER- ✔✔pay
Instead of having multiple loan payments to different student loan servicers, college students
and parents can __________ their federal student loans so they have one payment. -
CORRECT ANSWER- ✔✔consolidate
A __________ is a period of time where the student?s student loan servicer will allow him or
her to stop making payments. - CORRECT ANSWER- ✔✔deferment
A number of not-for-profit agencies offer some sort of college tuition reimbursement or
forgiveness program in exchange for a commitment to work with them for some length of
time after graduation. - CORRECT ANSWER- ✔✔true
__________ means either a college student is permitted to temporarily make smaller student
loan payments or stop making payments all together. - CORRECT ANSWER-
✔✔Forbearance
It rarely makes sense for a college student to attend a community college for two years and
transfer to a four-year school because it is costly if the transition is not planned for wisely. -
CORRECT ANSWER- ✔✔false
, It is not a good idea to be the first person a boss thinks of when he or she has a critical
assignment that must be done right and must be done on time. - CORRECT ANSWER-
✔✔false
Businesses buy things because they like them, not because they can make or save money
from them. - CORRECT ANSWER- ✔✔false
How to manage a career is not a financial decision. - CORRECT ANSWER- ✔✔false
Very few people really think about their professional or work lives beyond what they need to
do to get to the end of the day. - CORRECT ANSWER- ✔✔true
A cover letter should be __________ for each individual job application. - CORRECT
ANSWER- ✔✔customized
Communication and leadership are two sets of skills very few employers value. - CORRECT
ANSWER- ✔✔false
It is important to continually plan for a career. - CORRECT ANSWER- ✔✔true
Most people cannot separate their financial life from their professional life. - CORRECT
ANSWER- ✔✔true
Just as it is a good idea to plan financially it is a good idea to plan for a __________. -
CORRECT ANSWER- ✔✔career
Just like a financial plan, a __________ plan includes setting career goals and objectives and
then implementing a plan that gets one to where they want to be. - CORRECT ANSWER-
✔✔career
The purpose of the resume is to get a job. - CORRECT ANSWER- ✔✔false
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