BCE FInal

Cash value life insurance is sometimes called permanent insurance.

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

Compound interest is the calculation of interest on interest as well as on the original investment.

When you leave an employer, you have the right to continue your health insurance for a specified period of time.

Which of the following resources would be least helpful in your job search?

___ is (are) the portion of a company's profile that the firm pays out to its shareholders

How can a person transfer money out of their checking account?

Credit bureaus compile information from

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

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

Which of the following taxes is progressive?

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

Which of the following is not defined as part of gross income?

Both alimony and child support received are considered part of gross income for income tax purposes.

The outstanding balance owed on a debt is the

A business cycle is a pattern of economic activity that includes expansion, peak, contraction, and trough.

State sales tax is an example of a regressive tax.

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

Certificates of Deposit tend to pay a higher interest rate than money market accounts because

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

A modest funeral can easily cost more than $10,000.

A group healthcare plan is sold collectively to an entire group of persons rather than individuals.

When illness or injuries strike, which of these issues may affect your finances?

Food, clothing and entertainment are examples of

You are legally required to include which of the following in gross income?

If you have a(n) ___ investment philosophy, you accept very little risk and are rewarded with lower rates of return.

Which of the following statements about STEM majors is correct?

If one is covered by workers' compensation, he or she probably does not need additional health insurance coverage.

Your credit card liability for fraudulent usage of your lost or stolen credit card is limited to $___ if you report it.

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

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

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

Common stockholders elect

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

Effective career planning will help you identify an employment path that aligns to your interest and abilities.

Misrepresenting a few small facts/exaggerating during interview is expected and shouldn't have neg. impact on job search

Which of the following would not be considered as securities

Common stocks pay interest to the stockholder.

In preparation for a job interview, you should

The sum total of all economic activity is broadly measured by the gross domestic product.

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

Buying a home represents the largest expenditure most people ever make.

Drawbacks of an HMO include

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

___ invest in highly liquid, relatively safe securities with very short maturities

Which is the following reason why you should reconcile your bank account regularly?

Prior to a job interview, you should learn about the company, its competitors and the industry.

Simple interest is the interest computed on principal only, w/o adding the interest to the principal.

Which of the following statements about job interviews is correct?

Liquidity is the speed and ease with which an asset can be converted to cash.

A tax that requires a higher income person to pay a higher percentage of his or her income in taxes is called a ____ tax

Capital gains or losses are not realized until one actually sells the investment.

When you request that someone write a reference letter you should provide the person with your resume.

Your resume should include a complete list of functions and responsibilities that you had in your previous jobs.

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

Union or professional dues qualify as a miscellaneous itemized deduction.

Under the Affordable Care Act, all health care plans must cover ten essential benefits of adequate coverage

The skills employers want the most include all of the following except

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

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

Rent and vehicle insurance payments are examples of

Which of the following is classified as an investment asset?

A lender can legally discriminate in granting credit based on

The FDIC currently insures against loss of up to how much per person in an individual account at any one institution?

As a result of health care reform Patient Protection and Affordable Health Care Act, a child may stay on parent's plan

Life insurance is insurance that protects against financial losses resulting from death.

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

A shareholder is also called a stockholder.

Earned income is reported to the recipient on a

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

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

A borrower who failed to make a payment of principal/interest when due or meet any other requirement of credit agreement

The larger the down payment one can make on a purchase, the easier the payment will fit into budget.

Which type of insurance provides reimbursement for costs associated with custodial care in a nursing facility or a home

A balance sheet includes ___, ___, and ___.

Investors with a(n)__ investment philosophy seek capital gains through slow and steady growth in the value of investment

It is becoming increasingly common for health care plans to offer lower rates to persons with a healthy lifestyle.

A cashier's check is drawn on the account of the financial institution itself.

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

Which of the following is an example of unearned income?

The Federal Reserve Insurance Corp (FDIC) insures accounts in

Disposable income is income

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

If you cut up your credit card, the account is effectively closed.

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

After a job interview, send thank you note expressing appreciation and restate interest in the position.

Tax avoidance is illegal whereas tax evasion is legal.

All stocks pay dividends.

The best known defined-contribution plan is the ___

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

Which of the following is not a benefit of a savings account?

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

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

The largest potential financial loss resulting from premature death is lost income.

Younger adults may stay on a parent's health care plans until age 22 or graduating from college.

The Internal Revenue Service is the agency that collects federal income taxes.

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

Credit is a term used to describe where goods, services o money is received in exchange for a promise to repay later.

When no employer-sponsored retirement plan is offered, you should contribute to a(n)___