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Finance 260 Final Exam 2023/51 Questions And Answers
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Finance 260 Final Exam 2023/51 Questions AndAnswers
Quiz :FICA - Answer :Income tax that goes into Social Security (6.2%) and
Medicare (1.45%)
Quiz :Defined Contribution Plan - Answer :A pension plan that both you and
your employer contribute to
Quiz :Good Debt vs Bad Debt - Answer :Good Debt appreciates in value
Bad Debt depreciates in value
Quiz :Character - Answer :Sense of responsibility of debt payment and
stability
Quiz :Capacity - Answer :Current income level to current level of borrowing
Quiz :Capital - Answer :Size of financial holdings and investment portfolio
Quiz :Collateral - Answer :Assets or property offered as security
Quiz :Conditions - Answer :Current economic environment
Quiz :Full Retirement Age - Answer :67
Quiz :0 Coupon Bond - Answer :Bonds that don't pay interest and are sold at a
discount from their par value
Quiz :Shorting a Stock - Answer :Borrowing a stock from a broker and selling it
in hopes the price falls
Quiz :Bond Fluctuation - Answer :When interest rates rise, bond value drops
Quiz :Single Life Annuity - Answer :IRA payments after retirement in which
you receive a set monthly payment for the rest of your life
Quiz :12b-1 Fees - Answer :Annual fee that mutual funds charge for marketing
costs (0.25-1%)
, Quiz :401k - Answer :Tax-deferred retirement savings plan that is funded
through a portion of your income
Employers may or may not contribute
Quiz :Installment Loans - Answer :Loan that calls for the repayment of
principle and interest at regular intervals and expires at a present date
Quiz :Age 59 1/2 - Answer :Investments in your 401k and IRA cannot be
withdrawn without a penalty fee before this age
Quiz :Condo - Answer :Apartment building/complex that gives individuals
ownership of unit(s) and joint ownership of land, common areas and facilities
Quiz :Co-Op - Answer :Apartment building/complex owned by a corporation
in which residents are stockholders
Stockholders have no ownership of co-op and have to pay homeowner's Fees
Quiz :80% Rule - Answer :Home must be insured for at least 80% of the
replacement cost
Quiz :Earnest Money Deposit - Answer :Deposit on a home purchase to assure
the seller that the buyer is serious about buying
Not a down payment
Quiz :3 Things People Need - Answer :1. Person
2. Philosophy
3. Pursuit
Quiz :Who Rates Bonds? - Answer :Poor & Standards
Moody's
Quiz :IRA - Answer :Tax advantaged retirement account
Can be deductible
Quiz :Roth IRA - Answer :IRA where contributions are not tax deductible
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