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PFA FINAL REVIEW QUESTIONS & ANSWERS RATED 100% CORRECT!!
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PFA FINAL REVIEW QUESTIONS & ANSWERS RATED 100% CORRECT!!
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PFA FINAL REVIEWQUESTIONS &
ANSWERS RATED
100% CORRECT!!
PFA
Evatee 10/4/24 PFA
,PFA FINAL REVIEW QUESTIONS & ANSWERS
RATED 100% CORRECT!!
Which of the following federal student loans requires financial need to be
demonstrated for eligibility? Answer - Direct Subsidized
One of the six components of your financial plan should be financing your large
purchases. Answer - True
Investing in your human capital is the second-best investment you can make.
Investing in your house is the best investment. Answer - False
The Fed conducts expansionary monetary policy by buying bonds and
decreasing the money supply. Answer - False
Your utility bill, which varies each month, is an example of an annuity. Answer -
False
The present value of an amount at a fixed interest rate decreases as the lump
sum amount decreases. Answer - True
Which of the following statements is NOT true regarding education and
financial position? Answer - Higher education always guarantees a higher
income.
Your financial plan should include a plan for protecting your assets and income
through insurance coverage. Answer - True
, Fewer than 10% of millionaires have law or doctoral degrees. Answer - True
Because of potential security concerns, it is unlikely that you will find a financial
institution that offers mobile applications. Answer - False
Generally, the ________ the credit history, the ________ the credit limit.
Answer - better;higher
A person with a college degree is likely to earn over $1 million more in lifetime
earnings than a person with only a high school degree. Answer - True
A credit card statement lists purchases that were made with the credit card as
well as any balance carried forward from the previous statement. Answer -
True
Since insurance companies rely mostly on their premiums to cover claims, they
price their insurance policies to reflect the probability of a claim and the size of
the claim. Answer - True
Private health insurance plans contain hospital insurance, physician insurance,
and surgical insurance Answer - True
Excessive use of credit can impair your ability to save money. Answer - True
You should be very selective in shredding documents and when in doubt, do
not shred them. Answer - False
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