Advantages: highly secure, insured against loss. He currently works as a psychiatrist for the local hospital and earns $4,700 per month in net income. Planning how to get the most from your money. 1. E 5 team composition The People Who Develop IS Debt. Provide him with two advantages and two disadvantages of using a safe-deposit box. Jon Schlictmann intends to start depositing a portion of his salary into a savings plan. Which of the following is NOT one of the three steps to establishing and building a credit history? The steel manufacturing company for which Alfred Pennyworth works recently laid off thirty percent of it workforce due to poor consumer demand for its products. John McClane is trying to determine whether or not to use a safe-deposit box to store some of his financial documents and records. What term best describes the ability to buy or sell an investment quickly without substantially affecting its value? Explain. A 4. The Universal Default clause in a credit card agreement allows a credit card company to automatically increase the interest rate of a cardholder due to the their delinquency on payments elsewhere. The interest rate for the plan varies from month to month. Money left over after a person has paid for essential items. A cash flow statement represents the value at what a person is currently worth. What banking service could Jimmy use to pay his bills on time and avoid any negative effects on his credit rating? a: National Incident Management System (NIMS) An Introduction Final exam for is-100 Personal finance exam 3 quizlet. Subject — > Semester — > Lecture –> Quiz Sections — > Pretest answers –> Tests –> Exam and Cumulative Exam. Calculate Jake's net worth below: Danny Kaffe wants to determine his net worth. Which of the following investments options offers the lowest risk as a source of investment income due to its predictable nature? Tags: Question 15 . A Ford Mustang represents an example of a need. STUDY. David Drew invested $5,000 in the common stock of a domestic oil company two months ago. What term best describes the type of risk that Harry may encounter with his investment? No, The Equal Credit Opportunity Act protects borrowers from discrimination based on marital status. Assessments 45% Midterm exams (2) 25% Final exam 15% Valuation exam 10% MyLab homework and quizzes 3 Other Edgenuity Cheats For Finishing E2020 Fast. The average cardholder has 4 credit cards. exam. But, his wife and two sons desperately need the money from his paycheck to purchase groceries and decorations for a party on Sunday. What type of investment alternative is represented in this example? Therefore, Joseph decided to postpone his purchase of the car until he could significantly raise his score. He has calculated his total current debt and his monthly income. Bill has what from buying and selling his share of stock? Financial Statement Analysis in Accounting Chapter Exam Instructions. The J.T. Now a day we have less doctors inside of the community, and health related facilities, need to have being good and learn proven methods to outsource different expert services. Hence, he refuses to pay with credit due to all of its disadvantages. To utilize a restricted endorsement, what information in addition to his signature should Del write on the back of the check? Unfortunately, all of the contents of the home were ruined and Henry did not have insurance to cover the loss. Flashcards. List the five guidelines for setting S.M.A.R.T. osha 30 hour general industry final exam answers / osha 30 hour general industry test answers / osha 30-hour general industry final exam / va dmv vision test chart / ssd2 module 1 exam quizlet / test examen cabo guardia civil / dmv schedule road test dc / plato learning answer key for personal finance / taxation reviewer for cpa board exam 2019 / butterworths questions and answers … Items have been randomly selected from the MBA Research Center’s Test-Item Bank and represent a variety of instructional areas. Which of the following is NOT one of the three major credit bureaus? Based on the scenario provided, Salvatore would most likely be denied credit from a lender based on which of the following factors? Most credit card companies choose to conduct business in states such as South Dakota that do not have laws which limit the interest rate that credit card companies may charge individuals. Investors fear terrorists who threaten to destroy pipelines and oil rigs of American companies around the world. Cram.com makes it easy to get the grade you want! Personal Finance Exam 3 Quizlet - worksgrab.com. Peter decides that he will simply give the $50 check from Egon to Ray to satisfy his debt. An eighth grade student decides to attend CBC for his high school education. Dave Ramsey Foundations in Personal Finance - Chapter 9 Money in Review 12 terms. This exam is common across all sections of the course. Short Answer Essay 1. Jon pays a monthly car payment of $460.00 and typically owes $300.00 to credit card companies for the purchases that he makes throughout the month. ____ 2. The main purpose of a life insurance company is to provide financial security for dependents. b answers by elanham. Scenario A will cause the borrower to pay a higher total loan amount. English 12 … - Same products but perceived as different, - A particular window company is required to tell customers that the company cannot guarantee the child-safety locks on their windows. During each month, Jimmy Holiday pays a variety of fixed expenses. He has no intention of needing the money prior to the end of the three-year period and, hence, does not need the ability to withdraw any of the money in the meantime. Mike Allen inherits $1,000,000 from the estate of his grandparents. Hence, he usually must wait to deposit his paycheck in his checking account until Monday. The financial representative at his bank recommends a type of savings plan that allows for three withdrawals each month without a penalty. Allows individuals to purchase goods or services and pay for them later. B 8. Is this a legitimate reason for a creditor to reject a borrower? Which of the following is not advantage of using credit that Anthony may offer to James to persuade him to occasionally use credit for his benefit. Calculate Willie's net cask flow. Question Number Answer Level 1 Head Reference for Answer Difficulty 1 B – Elaboration The Stages and Activities of System Development. As a result, Gabe is oftentimes out of town on Friday and Saturday during banking hours. Explain. Choose your answers to the questions and click 'Next' to see the next set of questions. B 6. The federal government was running a budget surplus and this reduced the need to borrow additional money. Wise investors establish emergency funds to protect against the negative financial impact of unexpected events that may occur. Created by. However, he wants to be able to withdraw some of the money without a penalty for the down payment on the construction of his new house in two years. Personal Finance Final Study Guide Spring 2012 True/False Indicate whether the statement is true or false. Quickly memorize the terms, phrases and much more. You deposit $6,000 in a savings account earning 5% annual interest. Tom Mullen purchased a new golf club on EBay for $100.00. It means the country's economy is having an inflation. EXPLAIN how the factor creates global investment risk. Fema Is 100 C Answers Quizlet - Answers Fanatic Fema Is 100 C Answers Quizlet. Which of the following is NOT an example of a short-term need? B 9. The home in which Henry Ducard lived was recently destroyed by a hurricane. ... What is a key feature in computing your FICO score? He has several friends who have accumulated substantial debt during the first year of college. exam 2. Find Test Answers Search for test and quiz questions and answers. The loan officer informed Carmine that he had been rejected due to the fact that he was not married. b answers. Lester Murphy lends $10,000 to XYZ Corporation in exchange for the written pledge of the company to pay him periodic interest and the face value of the loan after a period of time. The seller will not accept a personal check, and Tom refuses to setup a PayPal account. Skip's lender looks at the following documents: credit score, credit report, and credit application to see if he has used credit responsibly in the past. All Categories Anthropology Biology Business Chemistry Communication Computer Economics Education English Finance Foreign Language Geography Geology Health History Human Services Math Medical Philosophy Professional Psychology It offers lower rates and reduced fees as compared to most banks. Muscular strength—helps maintain strength, making muscles stronger and enabling a person to do the necessary activities. What type of savings plan has Martin decided to use? You deposit $2,000 annually in a savings account earning 7% annual interest. Which of the following personal financial statements would Danny use to calculate his net worth? Peter signs the back of the check. this exam includes some parts all of the quizzes i offer but you may purchase separately if desired. Which of the following is NOT a means by which people may increase their net worth? Alex Rodriguez sets a financial goal to save $250.00 within eight months to purchase a new Rawlings baseball glove. Write. Automated Teller Machines (ATM) require the use of a Social Security Number (SSN). ____________ is the price paid for the use of the money of others. SURVEY . C 11. When the value of money goes down. He has assets that total $195,000 and liabilities that total $137,000. Short-term needs include things such as home ownership, education of children, and retirement. Played 415 times. The difference between a budgeted amount and the actual amount. Maximum amount of money a creditor will allow a credit user to borrow, A loan with a certain limit on the amount of money that may be borrowed for a variety of goods and services, Cardholders that pay off their balances every month, The cost of credit on a yearly basis, expressed as a percentage, A prior pledge of assets used to secure a loan, The amount by which your assets exceed your liabilities, A number used to indicate the creditworthiness of an individual, Which of the following scenarios will cause a borrower to pay a higher total loan amount over the course of the loan? What is the trade-off that may cause the borrower to choose to pay the higher total amount? Peter Venkman sells his friend, Egon Spengler, a microscope for $50. Which of the following options best represents an example of Dan undertaking a new course of action? Investments that offer the possibility of high returns usually include low levels of risk. Study Flashcards On Personal Finance Exam 2 at Cram.com. A tax-deferred savings plan requires that no taxes be paid on the interest earned. Harry Reynard invests $15,000 in the common stock of an airline company. The effect of interest being earned on previous interest in addition to the original deposit. Joseph Chill applied for an automobile loan to purchase a Jeep Wrangler. Salvatore Maroni has lived in four different cities in the past two years and was recently arrested for mail fraud. 2. What type of financial risk should the family be MOST concerned with based on its intentions? Carmine Falcone recently attempted to obtain a loan from National Finance Company for the purchase of a boat. Along with the answer key you can use some other techniques for speeding up the lectures. 3 years ago. Tom Edison recently started a job working as an electrician for a local contractor. Learn vocabulary, terms, and more with flashcards, games, and other study tools. The expenses include his car payment, mortgage payment, insurance, cell phone bill, and Internet connection fee. However, Michael actually earned $2,200 from his investment. A 7. PLAY. What type of financial risk may he face based on his decision to wait? His expenses for the month total $2,150. Spell. The price at which a person could sell property. However, Peter owes his other friend, Ray Stantz, $50 for a loan that Ray made to him last month. Which of the following is an advantage of using credit? What will be the value of the deposit in year six? What economic term refers to the point at which the amount of goods being supplied equals the amount of goods being demanded? Final Exam for: IS-700 Final exam for is-100 Personal finance exam 3 quizlet. McDermott Incorporated recently invented a new style of car safety seat designed to minimize injuries to small children in the event of accident. Since the purchase, he has paid $25,000 in principal towards his mortgage, and his home was appraised last month at a value of $340,000. One disadvantage of using a home file system to store personal financial documents is the risk of theft or destruction. Money invested into employer-sponsored retirement plans is typically tax-exempt. A 10. M 2 A – Inception The Stages and Activities of System Development. The situation that occurs if you spend more money than you receive. Provide Randy with an explanation of the two ways that he may earn money from owning common stock. What will be the value of the account in year nine? March 24, 2019. Upon visiting his bank and discussing his options with a financial representative, Martin decides on a plan. List the five criteria by which savings plans may be evaluated. He notices that his hotel is next to a post office. List the four asset categories that most commonly appear on a Balance Sheet: Liquid Assets, Real Estate, Personal Possessions, and Investments. Fortunately, Alfred was able to remain employed. The condition that occurs if you liabilities are greater than your assets. Hans Gruber decides to store some of his financial documents and records using a home file system. Roger Dorn built a new home four years ago for the price of $405,000. Thank you for registering for an NGPF Teacher Account! Study personal-finance flashcards and notes. Egon is writing a check to Del in the amount of four hundred and fifty dollars. 30 terms. Calculate Jon's Debt to Payment to Income Ratio. Based on the scenario provided, Henri would most likely be denied credit from a lender based on which of the following factors? more than sufficient to maintain the rate of those who receive benefits for the next 100 years. If producers have a decrease in income, then producers are not willing to pay more for goods, which decreases the demand for such goods. It is a good idea to pay only the minimum payment so that you can get a better credit score. His family encourages him to invest the money in a variety of different common stocks. What should Egon write on the check to ensure no one will be able to cash the check? Multiple Choice 1. What banking service could Gabe have utilized to avoid this situation? A spaghetti sauce company offers a chance to win a trip to Italy with ten proofs of purchases. Gravity. Jake Taylor determines that his total assets equal $148,000 and his total liabilities equal $119,500. Which of the following is NOT an example of an asset? The Skip Video Cheat Dan uses the $500 per month to pay off his credit card debt. - A particular window company is required to tell customers that the company cannot guarantee the child-safety locks on their windows - The Better Business Bureau receives information from consumers that a particular shoe company has inferior soles that keep falling apart What term best describes the process of spreading your assets amongst several different types of investments in order to lower your level of risk? What type of financial institution is being utilized by Tom's co-workers? The law of Demand states that the higher the price of the good, less people will demand of that good. What is the maximum amount of money that he may borrow under the terms of this type of loan? What term best describes this type of law? Spending $250,000 on the purchase of new home has a higher liquidity risk than depositing the money in a saving account. James Gordon pays with cash for all goods and services that he purchases. This easy-to-use quiz will test your knowledge of personal finance management. Applying for multiple credit cards in one week. Credit Bureaus collect information on how promptly individuals and businesses pay their bills. Current liabilities are debts that have to be paid within _____________. Which of the five C's is Skip's lender checking to see if Skip will be approved for this loan. He intends to use the money in three years to purchase a new mobile home. Upon earning each paycheck, Jim invests his money in a variety of stocks, bonds, and mutual funds with varying levels of risk. However, he was forced to accept a twenty percent pay decrease at a time when his personal budget is already tight. The bank statement amount for a person's checking account is the same as his check register at time the person receives the statement. The amount of money necessary to deposit now in order to attain a desired amount in the future. Will Gates is currently conducting research to evaluate his alternative courses of action as part of his financial planning process. He intends to put the money in his checking account at Bank of America. The amount of take-home income that remains after taxes and other deductions. PEFOUND Practice Exam Answer Key I. Martin Riggs wants to deposit $30,000 into a savings plan. How much of his savings will Butch be able to recover? How much money must you deposit now in an account earning 5% annual interest in order to earn enough interest to withdraw $3,000 each year for ten years? Different Accounting Standards in foreign companies. Use of a debit card to purchase a new baseball glove. Egon had a brain freeze and wrote three hundred and fifty dollars. What type of loan may Harvey obtain based on the information provided? 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