Ugba 135 Study guides, Class notes & Summaries

UGBA 135 Midterm-- Questions with complete solution 2023/2024 21st Century Millionare - correct answer - Someone who can financially take care of themselves without help from any government agency, living the life they want to lead - After working for 40 years, only 5% of people are financially independent (don't need government assistance) - Cornerstone of their wealth = being frugal (not cheap, but value-oriented) --> budget and spend carefully, live within their means - People who succ...

UGBA 135 Midterm 21st Century Millionare - correct answer - Someone who can financially take care of themselves without help from any government agency, living the life they want to lead - After working for 40 years, only 5% of people are financially independent (don't need government assistance) - Cornerstone of their wealth = being frugal (not cheap, but value-oriented) --> budget and spend carefully, live within their means - People who succeed have goals Do not outlive your money ...

UGBA 135 Final Exam (Fall 2022)

UGBA 135 Midterm-- Question and answers rated A+ 2023/2024 Emergency fund - correct answer in a savings account 3-6 months living expenses Definition of millionaire - correct answer financially independent Rule of 72 - correct answer The number of years it takes for a certain amount to double in value is equal to 72 divided by its annual rate of interest. Each time you get paycheck, what is % goal you should put away (savings goal) - correct answer 20%

UGBA 135 FINAL Exam With 100% Correct Answers 2023 Mortgage - Legal document that pledges a piece of property as collateral to repay the lender - Lender can take possession of the property if you cannot repay and sell for profit First Mortgage - primary loan with priority on claims in case of default - First mortgage is secured by a piece of property, has first claim on the property, a legal loan documents. Second Mortgage - riskier, because paid off second - higher rate of ...

UGBA 135 Midterm Question and answers already passed 2023/2024FICO Score - correct answer measure of consumer credit risk Highest FICO Score - correct answer 850 Factors determining FICO Score - correct answer Credit report is based on: -35% paying your bills on time over time -30% your debt-to-credit ratio ( borrowing money/ credit limit) -15% length of credit history -10% mix of credit cards and loans (like to see things other than credit card; Rent, any loan (e.g. leasing car)) -10...

UGBA 135 Final Exam Questions Correctly Answered is the greatest factor that determines your credit score? - correct answer paying bills on time over time the "cornerstone" of wealth is? - correct answer being frugal, not cheap but value oriented what is the minimum criteria for a credit score? - correct answer - at least one reported "account" which has been open for at least six months - at least one report that has been reported by a lender in the last six months and nothing that ...

UGBA 135 Midterm Correctly Answered Questions 2024. FICO Score - correct answer measure of consumer credit risk Highest FICO Score - correct answer 850 Factors determining FICO Score - correct answer Credit report is based on: -35% paying your bills on time over time -30% your debt-to-credit ratio ( borrowing money/ credit limit) -15% length of credit history -10% mix of credit cards and loans (like to see things other than credit card; Rent, any loan (e.g. leasing car)) -10% new acc...

UGBA 135 Final Exam With 100% Correct Answers 2023

UGBA 135 Midterm Review Practice Test 2024. Emergency fund - correct answer in a savings account 3-6 months living expenses Definition of millionaire - correct answer financially independent Rule of 72 - correct answer The number of years it takes for a certain amount to double in value is equal to 72 divided by its annual rate of interest. Each time you get paycheck, what is % goal you should put away (savings goal) - correct answer 20% What does being frugal mean - correct answer ...