BUSN380 Week 8 Final Exam

BUSN380 Week 8 Final Exam - Time Remaining: 1.

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Time Remaining: 1. (TCO 1) The stages that an individual goes through based on age, financial needs, and family situation  is called the: (Points: 5) financial planning process. budgeting procedure. personal economic cycle. adult life cycle. tax planning process.  2. (TCO 1) A lack of willingness to accept a variety of employment positions is a common career planning  mistake associated with weak: (Points: 5) common sense. communication. training. flexibility. perseverance. 3. (TCO 1) The abilities to work well with numbers, possess problem-solving skills, and have physical  dexterity are examples of: (Points: 5) interests. survival skills. aptitudes. occupational attitudes. on-the-job training. 4. (TCO 1) Which of the following situations is a person who could be insolvent? (Points: 5) Assets $56,000; annual expenses $60,000 Assets $78,000; net worth $22,000 Liabilities $45,000; net worth $6,000 Assets $40,000; liabilities $45,000 Annual cash inflows $45,000; liabilities $50,000 5. (TCO 1) Payments that do not vary from month to month are ____________ expenses. (Points: 5) fixed current variable
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
luxury budgeted 6. (TCO 2) Reductions from gross income for such items as individual retirement account contributions  and alimony payments will result in: (Points: 5) adjusted gross income. taxable income. earned income. passive income. total exclusions. 7. (TCO 2) Tax-deferred retirement plans are a type of: (Points: 5) exemption. itemized deduction. passive income. tax shelter. tax credit. 8. (TCO 2) A deduction from adjusted gross income for yourself, your spouse, and qualified dependents is:  (Points: 5) the standard deduction. a tax credit. an itemized deduction. an exclusion. an exemption. 9. (TCO 2) A tax credit of $50 for a person in a 28 percent tax bracket would reduce a person's taxes by:  (Points: 5) $10. $28. $14. $50. $35.  10. (TCO 2) The rate of return on a savings account is also referred to as: (Points: 5) liquidity. compounding.
Background image of page 2
yield. insolvency. asset management. 11. (TCO 2) A $200 savings account that earns $13 interest in a year has a yield of ____________  percent. (Points: 5) 6 13 7 11.25 6.5 12. (TCO 3) Dave's take home pay per month is $2200. What is the maximum dollar amount of debt  payments he should have? (Points: 5) $880 $440 $330 $220 $0     13. (TCO 3) If you have incorrect information in your credit file: (Points: 5) you can't really do much about it. you have no legal remedies. credit bureaus are not required to change it.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/27/2011 for the course BUSN 380 taught by Professor Bloch during the Fall '10 term at DeVry NY.

Page1 / 14

BUSN380 Week 8 Final Exam - Time Remaining: 1.

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online