Following various discussions with other electricians at his job site, Tom realizes that they all use the same financial institution. Which of the following is NOT an example of an asset? Name the four averages" or exchanges that allow you to find how the stock market is doing. 2. Spending $250,000 on the purchase of new home has a higher liquidity risk than depositing the money in a saving account. How much money must you deposit now in an account earning 6% annual interest in order to earn enough interest to accumulate a total of $10,000 in seven years? What term best describes the process of spreading your assets amongst several different types of investments in order to lower your level of risk? Different Accounting Standards in foreign companies. this exam includes some parts all of the quizzes i offer but you may purchase separately if desired. Additionally, Jon pays a house payment of $1,900 each month to Wayne Mortgage Company. Jon Crane is trying to determine whether or not it would be a good idea to try to obtain a loan to purchase a new car for his wife. The board of directors of the company has decided to use the earnings to pay its stockholders. 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. Mike Allen inherits $1,000,000 from the estate of his grandparents. Certificates of Deposit (CD) are examples of which one of the three general categories of services provided by financial institutions? The J.T. Created by. Automated Teller Machines (ATM) require the use of a Social Security Number (SSN). Provide two examples of home file systems that Hans may choose to use. If interest rates increase subsequent to the purchase of a fixed rate investment, the value of the investment will decrease. The amount of money a person earns (from their job) before taxes are taken out is called what? It is a good idea to pay only the minimum payment so that you can get a better credit score. B 8. John McClane is trying to determine whether or not to use a safe-deposit box to store some of his financial documents and records. 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 expenses include his car payment, mortgage payment, insurance, cell phone bill, and Internet connection fee. To utilize a special endorsement, what other information should Peter write on the check? Saving, Investing, Credit, and Insurance: Chapters 10 and 3, 4, and 6 in NEFE Book. Provide Randy with an explanation of the two ways that he may earn money from owning common stock. In most states, there is a limit on the amount that credit card companies may charge for late penalties. The situation that occurs if you spend more money than you receive. It offers lower rates and reduced fees as compared to most banks. However Jimmy suffers from poor organization skills and has a difficult time keeping track of the expenses and their corresponding due dates each month. Real Estate Finance 30 Final Exam & Answer Key 1) For all practical purposes, an “Alienation Clause” is basically the same as a: a) Call Clause b) Acceleration Clause c) Due on Sale Clause d) Defeasance Clause Answer is “c”: A Due on Sale Clause - This means the loan is not assumable without lender's What type of loan may Harvey obtain based on the information provided? The amount of take-home income that remains after taxes and other deductions. Harry Reynard invests $15,000 in the common stock of an airline company. What banking service could Jimmy use to pay his bills on time and avoid any negative effects on his credit rating? 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. Advantages: highly secure, insured against loss. Debt. Butch is concerned that he has lost the $379,000 in savings that he had deposited there during the past five years. The difference between a budgeted amount and the actual amount. You deposit $2,000 annually in a savings account earning 7% annual interest. E 5 team composition The People Who Develop IS He subsequently sold the stock on Tuesday for a price of $586.00 per share. Marlin Corporation earned $68,000 in profit during the last fiscal year. The main purpose of a life insurance company is to provide financial security for dependents. Automatic payments allow a bank to withdraw an amount for payment from a customer's account and electronically transfer it to a company or lender. Judge Elihu Smails wants to purchase a new yacht. Investments that offer the possibility of high returns usually include low levels of risk. exam 2. You deposit $13,500 in a saving account earning 9% annual interest. b answers. The value of a deposit in the future based on earning a specific interest rate over a specific period of time. The law of Supply states that the higher the price of the good, the more producers will supply of that good. English 12 … What type of financial risk should the family be MOST concerned with based on its intentions? 3 years ago. Therefore, Joseph decided to postpone his purchase of the car until he could significantly raise his score. List the four asset categories that most commonly appear on a Balance Sheet: Liquid Assets, Real Estate, Personal Possessions, and Investments. Short Answer Essay 1. Items have been randomly selected from the MBA Research Center’s Test-Item Bank and represent a variety of instructional areas. They also directed projects to prepare new editions of the TEL, TEK, and BET, and co-authored exam-iner’s manuals for each of those tests. Michael Palledorous recently bought a refrigerator for the price of $1,700 using the money he earned on an investment in the stock market. A FICO score of 780 typically indicates a borrower with low creditworthiness. Fake venom carts assessment exam and will i receive any hard copy .Start studying Financial Accounting Final Exam. Which of the following investments options offers the lowest risk as a source of investment income due to its predictable nature? If producers have a decrease in income, then producers are not willing to pay more for goods, which decreases the demand for such goods. Investors fear terrorists who threaten to destroy pipelines and oil rigs of American companies around the world. Michael Brantley purchased 5,000 shares of Google Incorporated common stock on Monday for a price of $574.00 per share. Calculate Jon's Debt to Payment to Income Ratio. ... All of the answers are correct . Other Edgenuity Cheats For Finishing E2020 Fast. Short-term needs include things such as home ownership, education of children, and retirement. Harvey Dent purchased a new home five years ago for the price of $310,000. Which of the following things will not increase your credit score? A cash flow statement represents the value at what a person is currently worth. He has assets that total $195,000 and liabilities that total $137,000. Purchase of a Sony high-definition television. James Gordon pays with cash for all goods and services that he purchases. Money left over after a person has paid for essential items. However, he was forced to accept a twenty percent pay decrease at a time when his personal budget is already tight. Assessments 45% Midterm exams (2) 25% Final exam 15% Valuation exam 10% MyLab homework and quizzes 3 Madison_Williams46. He notices that his hotel is next to a post office. Test. Egon pays Peter with a check in the amount of $50 for the microscope. $250,000-The FDIC insures each account in a federally-chartered bank up to $250,00 per account. This scenario best represents an example of which of the following concepts? a: National Incident Management System (NIMS) An Introduction Final exam for is-100 Personal finance exam 3 quizlet. But Paul wants to make sure he has the money into his account before he pays the bill. Planning how to get the most from your money. D II. 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? Money invested into employer-sponsored retirement plans is typically tax-exempt. The interest rate for the plan varies from month to month. He intends to put the money in his checking account at Bank of America. Based on the scenario provided, Alfred would most likely be denied credit from a lender based on which of the following factors? Which of the following is NOT a means by which people may increase their net worth? Personal Finance Final Study Guide Spring 2012 True/False Indicate whether the statement is true or false. Spell. Upon earning each paycheck, Jim invests his money in a variety of stocks, bonds, and mutual funds with varying levels of risk. Skip Smith went to U.S Bank to try to get a mortgage loan for a new house that he wants to buy. Use of a debit card to purchase a new baseball glove. Access study documents, get answers to your study questions, and connect with real tutors for FIN 223 : Personal Finance at Washington State University. EXAM PERSONAL FINANCIAL LITERACY THE PERSONAL FINANCIAL LITERACY EXAM IS USED FOR THE FOLLOWING EVENT: PERSONAL FINANCIAL LITERACY PFL These test questions were developed by the MBA Research Center. Bill bought shares of stock for $45 per share and then sold them the next month for $50 per share. STUDY. PLAY. Recently, Harvey decided that he would like to borrow a substantial amount of money to install a luxurious in-ground pool behind his home. This exam is common across all sections of the course. David Drew invested $5,000 in the common stock of a domestic oil company two months ago. What might be a possible personal opportunity cost of his decision? Is this a legitimate reason for a creditor to reject a borrower? Quickly memorize the terms, phrases and much more. What term best describes this type of law? financial goals: Richie Branson is beginning the process of creating his personal financial plan. Give his near perfect credit history, Carmine was stunned when he was informed that his application has been rejected. Final Exam for: IS-700 Final exam for is-100 Personal finance exam 3 quizlet. Which of the following is NOT one of the three steps to establishing and building a credit history? Which of the following is an example of a point-of-sale transaction? Based on the commonly acceptable ratio for potential borrowers, can Jon safety take on the responsibility of additional credit. Hence, he oftentimes pays bills late and therefore his credit rating has declined significantly. However, his job as a technology consultant requires him to travel out of town regularly. To utilize a restricted endorsement, what information in addition to his signature should Del write on the back of the check? Martin Riggs wants to deposit $30,000 into a savings plan. 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 economic term refers to the point at which the amount of goods being supplied equals the amount of goods being demanded? What will be the value of the deposit in year six? Question Number Answer Level 1 Head Reference for Answer Difficulty 1 B – Elaboration The Stages and Activities of System Development. Which of the following is NOT an example of a short-term need? Otherwise, he may risk having to keep the money in the plan another three years or face a financial penalty. The financial representative at his bank recommends a type of savings plan that allows for three withdrawals each month without a penalty. However, Michael actually earned $2,200 from his investment. - 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 However, his loan officer informed him that Chrysler Financial could not offer him their lowest loan rate due to his low credit score. Additionally, Tom is out of town and therefore, cannot conduct any business at his bank. by elanham. [ Chapter 9 / Money in Review Flashcards | Quizlet. Joseph Chill applied for an automobile loan to purchase a Jeep Wrangler. In addition, they had conducted a research study on the effec- Alex's goal represents a(n)_______________ financial goal. His expenses for the month total $2,150. The credit score of individuals helps determine the interest rate that they will pay on a credit card. Hence, he usually must wait to deposit his paycheck in his checking account until Monday. Match. He intends to use the money in three years to purchase a new mobile home. EXPLAIN how the factor creates global investment risk. ____________ is the price paid for the use of the money of others. Financial Statement Analysis in Accounting Chapter Exam Instructions. The loan officer informed Carmine that he had been rejected due to the fact that he was not married. He currently works as a psychiatrist for the local hospital and earns $4,700 per month in net income. B 6. Tags: Question 15 . The price at which a person could sell property. ________________ are beliefs and principles that you consider important or desirable. 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