BCE - Final Exam Review

Which of the following would NOT be considered as securities?

Which of the following about job interviews is correct?

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

This is an example of a regressive tax.

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

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

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

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

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

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

Food and clothing are examples of

The outstanding balance owed on a debt is the

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

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

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

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

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

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.

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

To cancel your credit card, just cut it up.

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

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

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

Which of the following is considered an investment asset?

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

Common stocks pay interest to stockholders.

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

The ____ is the agency that collects federal income taxes.

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

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

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

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

Drawbacks of an HMO include

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

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

Earned income is reported to the recipient on a

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

Why should you reconcile your bank accounts regularly?

Rent and vehicle insurance payments are examples of variable expenses.

All stocks pay dividends.

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

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

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

A way to advance in your career is to

After a job interview, you should immediately send

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

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

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

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

Prior to a job interview, you should

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

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

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

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

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

A shareholder is also called a stockholder.

One skill that employers want most is overconfidence.

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

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

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

The largest potential financial loss resulting from premature death is

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

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

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

Disposable income is income after all employer withholding including taxes.

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

Protection against inflation is a benefit of a savings account.

Which of the following is a progressive tax?

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

The FDIC insurances account in credit unions and brokerage companies.

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

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

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

Life insurance protects against financial loss resulting from death.

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

Wages and tips are examples of unearned income.

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

Common stockholders elect the corporation's board of directors.

Tax avoidance is illegal whereas tax evasion is legal.

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

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

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

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

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

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

This represents the largest expenditure most people ever make.

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

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

The FDIC insurance against loss of up to

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

Cash-value life insurance is sometimes called

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

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

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

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

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

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