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46 Cards in this Set
- Front
- Back
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what is the % gross income that FICA will take?
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6.2%
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what is the % that Medicaid will take?
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1.45%
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which is a long-term care?
a. car insurance b. nursing home insurance c. disability insurance |
B. nursing home
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A complete financial service offers
a. savings accounts b. checking accounts c. investments/financial planning d. borrowing e. all of the above |
E
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What is a NOW account?
a. Negotiable Operations Withhold account b. Negotiable Order of Withdrawal c. Negotiable Opening of Withhold account |
B. Negotiable Order of Withdrawal account
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Which financial instution offers a NOW account?
a. Credit Unions b. Mutual Savings Bank c. Savings and Loans d. Commercial Banks e. Brokerage firms |
D. Commercial Banks
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Shard draft accounts are offered by which financial institution?
a. Credit Unions b. Mutual Savings Bank c. Savings and Loans d. commercial banks e. brokerage firms |
A. Credit Unions
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FDIC is
a. Federal District Insurance Corp b. Federal Detail Insurance Corp c. Federal Deposit Insurance Corp |
C. Federal Deposit Insurance Corporation
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Which is(are) risks of owning bonds?
a. default risk b. call risk c. interest rate risk d. a and c e. a, b, and c |
E. all of the above
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When will Term Life Insurance pay?
a. at end of term b. at end of life c. when die within time frame |
C. when die within time frame
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which offers the most health insurance coverage?
a. comprehensive minor medical b. comprehensive major medical c. comprehensive major medicine |
B. comprehensive major medical
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Meaning of PPO?
a. Preferred Promise Organization b. Preferred Provider Organization c. Preferred Participant Organization d. Preferred Participant Operation |
B. Preferred Provider Organization
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Meaning of POS?
a. Point of Success b. Point of Saving c. Point of Secondary Contact d. Point of Service |
d. point of service (hybrid b/w PPO and HMO)
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Meaning of HMO?
a. Health Maintenance Organization b. Health Medical Organization c. Health Maintaining Organization |
A. Health Maintenance Organization
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Order of items on a loan disclosure statement?
a. TVAP, APR, ALA, TF b. APR, ALA, TVAP, TF c. APR, TVAP, TF, ALA d. APR, TF, TVAP, ALA e. APR, TVAP, ALA, TF |
E. APR, TVAP, ALA, TF
(%, total value all payments, actual loan amount, total finance) |
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Put the credit factors for FICO in order from largest to smallest: amount owed (ao), length of credit history (lch), new credit (nc), on-time payment history (otph), type of credit (tc)?
a. lch, otph, ao, nc, tc b. otph, ao, lch, nc, tc c. ao, otph, lch, nc, tc d. otph, lch, nc, ao, tc |
b. On-time payment history, Amount owed, length of credit history, new credit, type of credit
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NASDAQ?
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National Association Securities Dealers Automated Quotations
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What do most people judge wealth by?
a. tangible assets b. financial assets c. a + b |
A. tangible assets
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If a couple sells their home for 600,000 how much is taxable?
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$100,000
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If a couple sells their home for 400,000 how much is taxable?
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none of it
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if an individual sells his or her home for $200,000 how much is taxable?
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none
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liquidity?
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how easy it is to convert an asset into cash at its fair market value
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which is a risk-free security?
a. future b. stock c. warrants d. real estate e. government bonds |
e. government bonds
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Which is not a characteristic of preferred stocks?
a. convertible b. callable c. convenient d. cumulative e. participating f. terms |
c. convenient
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Which are traded in the Capital Market?
a. Short-term securities b. Long-term securities |
B. long-term securities like stocks and bonds
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Short-term securities are traded in which market?
a. Money Market b. Insurance Market c. Housing Market d. Primary Market e. Capital Markets |
a. Money market
(t-bills and commercial paper) |
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When buying stock at the market order, you are
a. ordering from a broker b. buying or selling when the stock hits a specified price c. buying or selling at the prevailing market price |
c. buying or selling at the prevailing market price
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Which is NOT a stock exchange?
a. AMEX b. NASDAQ c. WTSE d. NYSE |
c. WTSE
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Which securities regulation required full discloser of info by firms on new issues?
a. Securities Act of 1933 b. Securities Exchange Act of 1934 c. Investment Company Act of 1940 d. Securities Investor Protection Act of 1970 |
Money Market Account
a. Securities Act of 1933 |
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Which regulation put the SEC in charge of securities regulations?
a. Securities Act of 1933 b. Securities Exchange Act of 1934 c. Investment Company Act of 1940 d. Securities Investor Protection Act of 1970 |
b. Securities Exchange Act of 1934
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Which regulation dealt with protection for investors dealing with mutual funds?
a. Securities Act of 1933 b. Securities Exchange Act of 1934 c. Investment Company Act of 1940 d. Securities Investor Protection Act of 1970 |
c. Investment Company Act
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Which regulation protects investors from brokerage firm failures?
a. Securities Act of 1933 b. Securities Exchange Act of 1934 c. Investment Company Act of 1940 d. Securities Investor Protection Act of 1970 |
d. Securities Investor Protection Act
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How many national credit bureaus are there in the US?
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+1000
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Which credit legislation is aimed at prohibiting discrimination?
a. Fair Credit Reporting Act b. Equal Credit Opportunities Act c. Fair Credit Billing Act d. Consumer Credit Protection Act |
b. Equal Credit Opportunities Act
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Which credit legislation sets a time frame for disputing or stopping payments on a credit card?
a. Fair Credit Reporting Act b. Equal Credit Opportunities Act c. Fair Credit Billing Act d. Consumer Credit Protection Act |
c. Fair Credit Billing Act
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Which is the Truth in Lending Act?
a. Fair Credit Reporting Act b. Equal Credit Opportunities Act c. Fair Credit Billing Act d. Consumer Credit Protection Act |
d. Consumer Credit Protection Act
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Which act demands an accurate disclosure of fees and a limited liability of $50 per card?
a. Fair Credit Reporting Act b. Equal Credit Opportunities Act c. Fair Credit Billing Act d. Consumer Credit Protection Act |
d. Consumer Credit Protection Act
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Which act demands that credit cards must offer toll-free numbers for help?
a. Fair Credit Reporting Act b. Equal Credit Opportunities Act c. Fair Credit Billing Act d. Consumer Credit Protection Act |
a. Fair Credit Reporting Act
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Which act allows a 30 day window to fix mistakes?
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a. Fair Credit Reporting Act
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Chapter 13 bankruptcy is which plan?
a. Wage Earner Plan b. Straight (Pure) Bankruptcy c. Chapter 11 |
a. Wage Earner Plan
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Chapter 11 bankruptcy is often filed by whom?
a. low-income earners b. high-income earners c. college students d. corporations |
b. high-income earners
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Which bankruptcy law is specific about which assets can be kept?
a. Chapter 13 b. Chapter 7 c. Chapter 11 |
b. Chapter 7
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Which of the following are true about Money Market Accounts?
a. insured by the FDIC b. specific interest rate c. floating interest rate d. $1000 minimum e. all of the above f. a, c, and d |
F. insured by FDIC, floating interest rate, min $1000
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Are Savings Bonds state tax exempt?
a. Yes b. No |
a. Yes
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Which is NOT a true savings bond?
a. I b. DD c. EE d. HH |
b. DD
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which bonds are "War Bonds"?
a. Savings Bonds (I) b. Savings Bonds (EE) c. Savings Bonds (HH) |
b. Savings Bonds (EE)
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