Exam (elaborations)
FCS 340 Money Management Questions and answers
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FCS 340 Money Management Questions and answers
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FCS 340 Money ManagementQuestions and answers
SS estimate - answer www.ssa.gov/estimator
Buy and hold - answer Let investments in stock market ride, don't touch.
IRA - answer Individual Retirement Account
Investment Philosophy - answer Conservative
Moderate
Aggressive
Passive
Active
Leveraging - answer To borrow money in order to invest
Never do this
Magic number with stocks and bonds - answer 15
Market Risk - answer Systematic risk
Overall market crashes
Ex. Real Estate Market, Stock Market
Types of Retirement Plans - answer 401k-Private Corporation
403(b)- Non-Profit Organization
457- State and Local Government
, Penalties for taking out of retirement fund - answer -Taxes
-Interest
-Less money in account
Penalty free withdrawals - answer -Tuition
-Medical
-Home Buying
-Medical
-Disability
-Borrow against account (don't do this)
Probate - answer No will
Court gets to decide what happens with estate
Liability covers - answer Other person
How to make an insurance claim - answer 1. Contact
2. Document
3. Get Payment
4. Sign Release
Essay ? What is the goal of portfolio diversification? - answer Limit risk
Spread assets among several investments
Safe with money
Essay ? What is your investment philosophy - answer
How many social security credits to be fully ensured? How long does this
take? - answer 40 credits
10 working years
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