FI580-Graded_Quiz_1-Jan_28-08

FI580-Graded_Quiz_1-Jan_28-08 - FI580 Quiz 1 January 28,...

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FI580 – Quiz 1 January 28, 2008 1. Question: Using the rule of 72 how many years would it take for a portfolio to double based on an 8 percent return. Student Answer: 9 years CORRECT ANSWER 10 years 5 years 12 years 6 years Points Received: (not graded) 2. Question: Net worth is calculated as follows: Student Answer: assets plus liabilities assets minus liabilities CORRECT ANSWER Equity Plus assets Income minus expenses assets divided by liabilities Points Received: (not graded) 3. Question: A teaser rate on a mortgage will result in what down the road? Student Answer: a much lower payment for the life of the loan a shorter payment period. a below market rate a market or above market interest rate adjustment. CORRECT ANSWER No adjustment at all Points Received: (not graded) 4. Question: One point on a $300,000.00 mortgage loan is calculated to be? Student Answer: $2275 $2279 $3005 $3000 CORRECT ANSWER $4250 Points (not graded) 1
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Received: 5. Question: Owning a Home is a ? Student Answer: Tax Shelter CORRECT ANSWER always a great investment easy on the pocket book a small event in one's life a great short term investment Points Received: (not graded) 6. Question: A loan amortization schedule shows?
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FI580-Graded_Quiz_1-Jan_28-08 - FI580 Quiz 1 January 28,...

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