Personal finance exam - Study guides, Class notes & Summaries

UGBA 135 Personal Finance Exam With 100% Correct Answers 2023

Personal Finance Exam 1 2023/24 | WITH COMPLETE SOLUTION The recent trend is for the federal government and corporations to shift more responsibility to the individual with respect to providing for their financial future. - True An individual who has an adjustable rate mortgage (ARM) is primarily concerned about _____ risk. - Interest rate Assume the following: Pre-tax return = 14.5% Tax rate = 25% Inflation rate = 4% What is your real return? - 6.875% Recently, the HIGHEST ...

In the case of a savings account what is the principal? - correct answer The amount of money you deposit The Federal Reserve System is - correct answer The central banking system of the United States The rise in the level of prices for goods and services is - correct answer Inflation The ways in which groups of people change over time - correct answer Demographic trends When considering a job offer what factors should you consider? - correct answer Work environment, Factors affecting...

Nathan has 300 to open a checking account. He wants an account with the lowest fees. He plans on using the ATM machine, and his employer offers direct deposit. Which checking account should he use? - CORRECT ANSWER Account D Minimum balance 100 Interest 0.1% Overdraft no Atm fees none Monthly fee 5-0 with direct Carlos wrote a check for 4.92 to pay his gas bill. He'll use the check register to record his transaction. What will be his new balance? - CORRECT ANSWER 370.09 ...

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Personal Finance Exam 1 Questions and answers

What is an emergency fund? - Answer- Money set aside that covers at least 3-6 months of living expenses in the event of illness, job loss, or other emergency What is the definition of a millionaire? - Answer- People who are financially able to take care of themselves throughout their adult lives and live the life they want without help from government programs such as welfare, Medicare, and Social Security What is the Rule of 72? - Answer- Used to estimate how long it will take for a sum o...

he rising or falling of prices that causes changes in buying power is referred to as _____ risk ANSWER: Inflation The major function of personal financial planning is to ANSWER: Achieve personal economic satisfaction The problem of bankruptcy is associated with overuse and misuse of credit in the _____ component of financial planning ANSWER: Borrowing The tangible and intangible factors that create a less than desirable situation is referred to as _____ risk ANSWER: Personal Annual...

Test Bank for Canadian Fundamentals of Nursing 6th Edition by Potter Test Bank for Canadian Fundamentals of Nursing, 6th Edition A Complete Test Bank for Canadian Fundamentals of Nursing, 6th Edition Authors: Patricia A. Potter, Anne Griffin Perry, Patricia Stockert, Amy Hall, Barbara J. Astle, Wendy Duggle This is a Test Bank for Canadian Fundamentals of Nursing, 6th Edition. This is not the textbook. A Test Bank is a collection of exam questions with solutions based on the textbook. However it...