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FINA 1904: Personal Finance Exam Study Questions and Answers $12.49   Add to cart
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FINA 1904: Personal Finance Exam Study Questions and Answers
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FINA 1904: Personal Finance Exam Study Questions and Answers When parents or college students do not qualify for a federal student loan they should always use a home equity loan. - ANSWER-False If anyone intends to earn a four-year degree, then spending the first two years at a __________ colle...

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  • November 4, 2024
  • 27
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




FINA 1904: Personal Finance Exam Study

Questions and Answers


When parents or college students do not qualify for a federal student loan they should always use a

home equity loan. - 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. - 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. - 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. - ANSWER✔✔-

consolidate


The Teacher Education Assistance for College and Higher Education Grant (TEACH Grant) is a __________

federal student grant. - ANSWER✔✔-common


Many four-year colleges and their academic departments are very specific about the classes they accept

from other universities and community colleges. - ANSWER✔✔-true




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, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




Student financial aid is based on many factors, but never college students? and parents? previous year?s

income and assets. - ANSWER✔✔-false


The Free Application for Federal Student Aid (FAFSA) can be completed online only. - ANSWER✔✔-false


Many colleges have a hard waiver policy, which means college students are automatically covered and

charged for health insurance. - ANSWER✔✔-true


College students and parents should not assume they can eliminate federal student loans through

__________. - ANSWER✔✔-bankruptcy


Living off campus is usually __________ than living on campus. - 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. - ANSWER✔✔-true


Work study earnings do not impact eligibility for financial aid the following year. - ANSWER✔✔-true


It is unnecessary for college students to __________ someone to help them search for grants or

scholarships. - 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. - ANSWER✔✔-

consolidate


A __________ is a period of time where the student?s student loan servicer will allow him or her to stop

making payments. - ANSWER✔✔-deferment
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, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




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. -

ANSWER✔✔-true


__________ means either a college student is permitted to temporarily make smaller student loan

payments or stop making payments all together. - 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. - 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. - ANSWER✔✔-false


Businesses buy things because they like them, not because they can make or save money from them. -

ANSWER✔✔-false


How to manage a career is not a financial decision. - 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. - ANSWER✔✔-true


A cover letter should be __________ for each individual job application. - ANSWER✔✔-customized


Communication and leadership are two sets of skills very few employers value. - ANSWER✔✔-false


It is important to continually plan for a career. - ANSWER✔✔-true



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