Exam (elaborations)
WISE-MONEY MANAGEMENT FINANCIAL PLAN QUESTIONS AND ANSWERS
- Course
- Institution
WISE-MONEY MANAGEMENT FINANCIAL PLAN QUESTIONS AND ANSWERS
[Show more]
Content preview
Name: Score:37 Multiple choice questions
Definition 1 of 37
someone who pays rent to use land or a building or a car that is owned by someone else
(lessee)
Landlord
Tenant
Tenement
Owner
Definition 2 of 37
increasing equity by making your payments on time
Creating partnerships
Negative equity
Financial plans
Building equity
Definition 3 of 37
Income received from social security benefits
Finance company mortgage
Financial plans
Income tax return
Social security income
,Definition 4 of 37
Financial needs differ at various stages of the family and individual life cycle
Family life cycle
Stages of life
Seasons of life
Duties of life
Definition 5 of 37
the amount of money the employee contributes towards various expenses (retirement,
insurance, taxes) deducted from gross pay
Financial plans
External competitiveness
Employee contributions
Internal alignment
Definition 6 of 37
a mortgage held by a finance company
Financing ownership
Bank mortgage
Finance company mortgage
Mortgage interest
,Definition 7 of 37
financial investments where taxes due on the amount invested and/or its earnings are
postponed until funds are withdrawn, usually at retirement
Tax deferred
Sales tax
Fully tax deductible
Tax exempt
Definition 8 of 37
total assets minus total liabilities
Asset
Net worth
Fixed mortgage
Net income
Definition 9 of 37
a regular payment to a person that iis intended to allow them to subsist without working
401 (k)
Title
Roth Ira
Pension
, Definition 10 of 37
When someone uses your name, Social Security number, credit card number, and other
personal information without your permission.
Identity theft
Identity fraud
Security deposit
Phishing
Definition 11 of 37
This is a conventional mortgage, with payments of interest and principal. Fixed terms with a
fixed rate can vary from 6 months to 10 years or more.
Balloon mortgage
Adjustable rate mortgage
Fixed mortgage
Variable mortgages
Definition 12 of 37
a fee charged by a lender on money borrowed on the loan to purchase a home
income tax
mortgage interest
property taxes
depreciation
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller selftest. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now