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UGBA 135 - Assignment 1 Review Questions 2024. According to the census bureau what % most closely represents the number of children born out of wedlock - correct answer 40% in terms of annual income to be in the top 1% of households annual earnings should exceed - correct answer $400,000 of ...

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  • April 23, 2024
  • 9
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • ugba 135 assignment 1
  • ugba 135 assignment 1 review questions 2024

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UGBA 135 - Assignment 1
According to the census bureau what % most closely represents the number of children born out of
wedlock - correct answer 40%



in terms of annual income to be in the top 1% of households annual earnings should exceed - correct
answer $400,000



of all the money the gov't spends approximately what % is spent on senior citizens - correct answer 40%



according to the IRS what % of households has a net worth of at least $1mil - correct answer 4.9%



we define "Wealth" as - correct answer lifestyle



the burden of saving and investing for retirement and healthcare is shifting more from the - correct
answer employer to employee



nationally what percentage of students who start high school do not graduate? - correct answer 30%



to be in the top 10% of households annual earnings should exceed - correct answer $113,000



the "cornerstone" of wealth is - correct answer being frugal



approximately what percentage of millionaires are self-employed or own a business - correct answer
50%



as global population ages and birth rates decline governments will need to - correct answer cut benefits
to seniors

, the biggest financial challenge facing future generations is - correct answer -huge federal debts to be
repaid

-more elderly to be supported by fewer workers

-large numbers of undereducated and unemployed workers to be supported



to be come a millionaire (financially independent) in today's dollars, it is required for a household to
have an annual income of at least - correct answer none of the above



what % of college undergrads has at least one credit card - correct answer 75%



what is the average credit card balance owed by college undergrads - correct answer $3000



of all those students who use credit cards, the most common payment behavior is to - correct answer
make more than the minimum payment but carry a balance



which is not an interest rate - correct answer revolving



when a lender is willing to loan money without requiring any collateral the loan is considered - correct
answer unsecured



the best way to establish credit is to - correct answer none of the above (not borrow money, pay cash for
everything, write checks for everything)



revolving credit is when you can - correct answer reuse your credit line over and over



a credit card fee may be charged for - correct answer closing an account



interest in a credit card account is normally calculated - correct answer daily



the legal limit on interest applied to unpaid credit card balances is - correct answer there is no limit

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