General Financial Literacy Course – Utah Questions and Correct Answers | Latest Update
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Course
General Financial Literacy
Institution
General Financial Literacy
401K
-:- A qualified plan established by employers to which eligibl e
employees may make salary deferral (salary reduction) contributions on a
post-tax and/or pretax basis. Employers offering a 401(k) plan may make
matching or non-elective contributions to the plan on behalf of eligible
e...
✓ -:- A savings certificate entitling the bearer t o receive interest. A CD
bears a maturity date, a specified fixed interest rate, and can be issued in
any denomination. CDs are generally issued by commercial banks and are
insured by the FDIC. The term of a CD generally ranges from one month
to five years.
Charitable Contributions
✓ -:- In general, [money given to] a charitable organization that exists to
benefit society as a whole rather than to enrich individual owners or
shareholders.
Closing Costs
✓ -:- Closing costs are fees paid at the closing of a real estate
transaction. This point in time called the closing is when the title to the
property is conveyed to the buyer. Closing costs are incurred by either
the buyer or the seller.
Co-signers
4|P a g e | G r a d e A + | 2 0 2 0 2 5
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