BCE - Final Exam Review

This is the portion of a company's profits that it pays out to its shareholders.

Financial planning is the process of developing and implementing short-term plans to achieve financial objectives.

You are legally required to include alimony, lottery winnings, and illegal income in gross income on your taxes.

Rent and vehicle insurance payments are examples of variable expenses.

The time period between billing dates on your credit cards is the

The cost of credit on a yearly basis as a percentage rate is called the

Which of the following could incur fees and penalties on a checking account?

Wages and tips are examples of unearned income.

A borrower who has failed to make a payment of principal or interest when due is said to be in

A stop-payment order works only if the check has not yet cleared your financial institution.

Investment risk is the possibility that an investment may lose value.

Which of the following is a progressive tax?

This represents the largest expenditure most people ever make.

Classified ads would be least helpful in your job search, compared to career fairs, the internet, employment agencies.

CDs pay higher interest rates than money markets because you agree to leave your money in it for a set period of time.

A group health care plan is sold to individuals and NOT to an entire group.

Cash-value life insurance is sometimes called

A way to advance in your career is to

A tax that requires a higher-income persona to pay a higher % of her income in taxes is called a

With this investment philosophy, you accept very little risk and are generally rewarded with low returns.

In times of high inflation, people on fixed incomes suffer.

The FDIC insurances account in credit unions and brokerage companies.

After a job interview, you should immediately send

Common stocks pay interest to stockholders.

Under the ACA, all health care plans must cover 10 essential benefits of adequate coverage and be labeled as a

To cancel your credit card, just cut it up.

Misrepresenting a few small facts during an interview is expected and should not have a negative effect.

Tax avoidance is illegal whereas tax evasion is legal.

A shareholder is also called a stockholder.

A modest funeral could cost more than $10,000.

Food and clothing are examples of

The speed and ease with which an asset can be converted to cash.

Under the ACA, a child may stay on a parent's health care plan until age 26.

Protection against inflation is a benefit of a savings account.

You can file an amended tax return to correct errors for the previous five years.

Credit bureaus compile information from banks, creditors, and court records.

In preparation for a job interview you should compile some personal stories and anticipate questions and responses.

A lender can legally discriminate in granting credit based on age, marital status, and gender.

STEM refers to majors in science, technology, engineering, and mathematics.

Which of the following is considered an investment asset?

The largest potential financial loss resulting from premature death is

This is an example of a regressive tax.

Whenever you request that someone write a reference letter, you should provide them with a copy of your resume.

The sum total of all economic activity is broadly measured by the

Personal finance is the study of personal and family resources considered important in achieving financial success.

If you report the loss, your credit card liability for fraudulent charges if your card is lost or stolen is

Earned income is reported to the recipient on a

These funds invest in highly liquid, relatively safe securities with very short maturities.

The person who controls all right granted by a life insurance policy is called the

Life insurance protects against financial loss resulting from death.

Taxes are defined as compulsory charges imposed by a government on its citizens and their property.

This is a term used to describe a situation in which a good is received in exchange for a promise to repay later.

The main purpose of a cover letter is to indicate desired salary.

Which of the following types of payment instruments could you get at your local post office?

When you leave an employer, you can continue your health insurance coverage for a set period of time.

the best-known defined-contribution plan is the 401(k) plan.

Prior to a job interview, you should

Good career planning will help you identify a job path that aligns your interests with the task expected by employers.

Credit cards allow repeated use of credit as long as you make the minimum monthly payments.

Both alimony and child support are considered part of gross income on your income taxes.

It is not necessary that your values be consistent with your financial and lifestyle goals.

The sticker price on a new car is typically the final sales price.

Which of the following deductible expenses can be prepaid for tax purposes?

The calculation of interest on the principal only, without adding the interest to the principal is know as

All stocks pay dividends.

Capital gains are not realized until you actually sell the investment.

Drawbacks of an HMO include

Young adults may stay on a parent's health care plan until age

The interest rate you earn on your checking and savings accounts can vary with the amount you have in the accounts.

This type of insurance provides reimbursement for costs associated with custodial care in nursing facility or at home.

Checks allow you to transfer funds from your account to other people.

Which of the following is not part of gross income on your taxes?

A balance sheet include assets, liabilities, and net worth.

Why should you reconcile your bank accounts regularly?

Which of the following would NOT be considered as securities?

For benefits to begin under a long-term care insurance plan, the patient must

With this investment philosophy, you seek capital gains through slow and steady growth.

After the job has been firmly offered, to discuss salary, you can give a definitive dollar amount.

Which of the following about job interviews is correct?

One skill that employers want most is overconfidence.

Union or professional dues do qualify as a miscellaneous itemized deduction.

You can transfer money out of your checking account by writing a check, using your debit card, or doing a fund transfer.

This type of check is drawn on the account of the financial institution itself.

A loan to purchase real estate in which the loan itself serves as collateral is a mortgage.

If you are covered by workers' compensation insurance, you do not need additional health insurance coverage.

Health care plans may offer lower rates to persons with a healthy lifestyle.

The FDIC insurance against loss of up to

A portfolio is a collection of investments assembled to meet your investment goals.

When your employer does not offer a retirement plan, you should contribute to a(n)

The average corporation pays out 40-60% of its profit in cash dividends to stockholders.

Disposable income is income after all employer withholding including taxes.

Common stockholders elect the corporation's board of directors.

The outstanding balance owed on a debt is the

The larger the down payment, the easier the payments will fit into one's budget.

When injuries strike, which of the following may affect your finances?

There are no fees charged for a stop-payment order.

The calculation of interest on a interest and well as on the original investment is known as

The ____ is the agency that collects federal income taxes.