MCS 2100 Personal Financial Management

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• Test Prep (47)

• 32 pages

  • MCS Final Exam Notes
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Chapter 1 MCS Final Notes Key Terms Adult Life Cycle: The stages in the family situation and financial needs of an adult Annuity: A series of equal amounts (deposits or withdrawals) made at regular time intervals Bankruptcy: A set of federal laws that all
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  MCS Final Exam Notes

• 8 pages

  • Quiz 5-2014
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Winter 2014
  • n1 n2 1 / 1 point The first step in retirement planning is to estimate your spending needs. estimate the inflation rate. evaluate your planned retirement income. analyze your current assets and liabilities. View Feedback At retirement, the following expen
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  Quiz 5-2014

• 8 pages

  • TaxB
  • University of Guelph
  • personal finance mgmt
  • MCS 2100 - Winter 2014
  • Kaitlin Fuller (username: kfuller) Attempt 1 Written: Jun 19, 2013 8:28 AM - Jun 19, 2013 8:54 AM Submission View released: Feb 17, 2013 4:32 AM Question 1 1 / 1 point Which of the following would be paid with before tax dollars? a) Registered Education S
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  TaxB

• 7 pages

  • Quiz 4-2014
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Winter 2014
  • n1 n2 1 / 1 point Paige is a conservative investor. She is in the top income bracket and would like to receive a tax break on her investment. Which type of investment would you suggest for her? The investment will be non-tax sheltered. a) Global telecommu
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  Quiz 4-2014

• 7 pages

  • Quiz 1- 2014
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Winter 2014
  • Giles has collected the following numbers about his finances. Use the appropriate numbers to calculate his net worth. Bank Account $1,500 Canada Savings Bonds $5,000 Monthly income $6,000 House $125,000 Car $10,000 Mortgage $95,000 Car Loan $5,000 Monthly
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  Quiz 1- 2014

• 66 pages

  • MCS 2100 Textbook Notes
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Winter 2015
  • Chapter(1(An(Introduction( ! Why!financial!planning!is!important?! o Is!the!process!of!managing!your!money!to!achieve!personal!economic!satisfaction! o Advantages:!increased!effectiveness!in!obtaining,!using!and!protecting!resources! o Increased!control!o
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  MCS 2100 Textbook Notes

• 49 pages

  • 2015 Fall quizzes
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • tion 2 tion 3 tion 4 Quiz 1 Kathryn and her friend went to a restaurant for lunch. The service was very slow and the food was cold. What type of risk does this represent? a ) liquidity risk b ) interest rate risk c ) product ris
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  2015 Fall quizzes

• 7 pages

  • Quiz4-2
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Quiz 4 Question 1 1 / 1 point Paige is a conservative investor. She is in the top income bracket and would like to receive a tax break on her investment. Which type of investment would you suggest for her? The investment will be non-tax sheltered. Global
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  Quiz4-2

• 18 pages

  • MCS 2100 final exam review
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • find more resources at oneclass.com CH1 Personal financial planning This chapter provides the framework for the chapters that follow. The information that is covered in the remaining chapters will be used by individuals to assist them in carrying out thei
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  MCS 2100 final exam review

• 12 pages

  • MCS REVIEW
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Part 1-Multiple Choices Questions 1. Which of the following may indicate potential debt problems? A) paying only the minimum balance each month B) always borrowing to make it to next payday C) your wages have been garnished to pay for debt D) your utility
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  MCS REVIEW

• 19 pages

  • 2008 all 5 quizzes
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Quiz 1 Question 1 Use the following numbers to calculate the net worth: Bank Account $1,500 Canada Savings Bonds $5,000 Monthly income $6,000 House $125,000 Car $10,000 Mortgage $95,000 Car Loan $5,000 Monthly mortgage payments $1,200 1 / 1 point a) $4
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  2008 all 5 quizzes

• 5 pages

  • MCS 3600 Notes 6-2
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Article 6 The Unhealthy = Tasty Intuition Where Does This Intuition Come From? Internal Sources External Sources Where Does This Intuition Come From? Internal Sources External Sources Unhealthy = Tasty Intuition A belief that nourishing foods are inverse
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  MCS 3600 Notes 6-2

• 8 pages

  • Quiz 4
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • n1 n2 1 / 1 point Paige is a conservative investor. She is in the top income bracket and would like to receive a tax break on her investment. Which type of investment would you suggest for her? The investment will be non-tax sheltered. a) Global telecommu
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  Quiz 4

• 8 pages

  • Quiz 2
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • n1 n2 ance n3 1 / 1 point The Canada Pension Plan is an example of a) risk avoidance b) risk assumption c) risk shifting d) risk reduction View Feedback 1 / 1 point Bob's father is currently in remission from cancer. Bob's parents struggled with the effec
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  Quiz 2

• 8 pages

  • Quiz 1
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • n1 n2 1 / 1 point Giles has collected the following numbers about his finances. Use the appropriate numbers to calculate his net worth. Bank Account $1,500 Canada Savings Bonds $5,000 Monthly income $6,000 House $125,000 Car $10,000 Mortgage $95,000 Car L
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  Quiz 1

• 7 pages

  • Quiz 3
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • n1 n2 1 / 1 point The prime interest rate is a) set by the Bank of Canada. b) the interest rate used for unsecured loans. c) the interest rate on Canada Bonds. d) the interest rate the financial institutions charge their best customers. View Feedback 1 /
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  Quiz 3

• 4 pages

  • MCS quiz 1
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • MCS*2100 Quiz 1 1) Kyle purchases some mutual funds 2 years ago for $7000. He had some emergency repairs he needed to do on his house and sold the mutual funds, when he sold them he received $6000. What type of risk does this represent? a) Liquidity risk
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  MCS quiz 1

• 10 pages

  • Unit 6 Insurance
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Unit 6: Insurance Friday, February 24, 2017 5:05 PM Insurance Basics In order for a company to insure a risk the risk needs to be an insurable ris of gain or loss. Insurance companies will not insure the value of your stock against theft but they will no
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  Unit 6 Insurance

• 22 pages

  • Unit 7Investing
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Unit 7:Investing Sunday, March 26, 2017 12:47 PM How do I Choose an Investment? 1. Safety & Risk -assess your own level of risk tolerance and the risk level of any potential investmen -Low risk investments have a low return potential while high
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  Unit 7Investing

• 30 pages

  • Unit 8 Retirement Planning
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Unit 8: Retirement Planning Wednesday, April 5, 2017 10:12 PM Public Retirement Plans Canada Pension Plan (CPP) All workers pay into the CPP. If you are employed your employer will forwa and their portion of your contribution. If you are self employe
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  Unit 8 Retirement Planning

• 28 pages

  • MCS 2100 Review.docx
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • MCS 2100 Review Planning Your Personal Finances Chapter 1: Personal Financial Planning: An Introduction Chapter 2: Money Management Strategy: Financial statements and Budgeting Chapter 3: Planning Your Tax Strategy Managing Your Personal Finances Chapter
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  MCS 2100 Review.docx

• 4 pages

  • Exam Practice without answers (10-19)
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Question 11 (1 point) Which of the following is an example of assuming risk? Question 11 options: a)Lifeinsurance b)Annuity c)Gambling d)Emergencyfund Save Question 12 (1 point) Peter has a private pension at work. Both he and his employer make equal cont
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  Exam Practice without answers (10-19)

• 4 pages

  • Exam Practice without answers (20-29)
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Question 20 (1 point) A prime reason for buying an annuity is to Question 20 options: a) giveyouretirementincomefortherestofyourlife b) provideforyourchildren'seducation c) havereservefundsforalltypesofemergencies d) provideforyourdependentsafteryourdeath
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  Exam Practice without answers (20-29)

• 5 pages

  • Ch 10 Fundamentals of Investing
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Coroporate Bond A corporation's written pledge to repay a specified amount of money, along with interest Diversification a) The process of spreading your assets among several types of investments to lessen risk b) Investment technique that involves combin
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  Ch 10 Fundamentals of Investing

• 5 pages

  • Ch 8 Home and Automobile Insurance
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Accident Benefits Automobile insurance that covers medical expenses for people injured in one's car Actual Cash Value A claim settlement method in which the insured receives payments based on the current replacement cost of a damaged a damaged or lost ite
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  Ch 8 Home and Automobile Insurance

• 3 pages

  • Ch 7 The Finances of Housing
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Amortization The reduction of a loan balance through payments made over time Appraisal an estimate of the current value of a property Closing cost fees and charges paid when a real estate transaction is complete; also called settlement costs Condominium a
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  Ch 7 The Finances of Housing

• 3 pages

  • Ch 2
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Budget Deficit/surplus The amount by which actual spending exceeds/is less than planned spending Budget Variance The difference b/w the amount budgeted and the actual amount received or spent Cash Flow The actual inflow and outflow of cash during a given
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  Ch 2

• 2 pages

  • Ch 1
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Annuity a series of equal amounts (deposits or withdrawals) made at regular time intervals Bankruptcy a set of federal laws that allow you to either restructure your debts or remove certain debts Compounding a process that calculates interest based on pre
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  Ch 1

• 3 pages

  • Ch 13 Investing in Mutual Funds
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • Capital Gain distributions The payments made to a fund's shareholders that result from the sale of securities in the fund's portfolio Closed-End Fund A mutual fund whose shares are issued by an investment company only when the fund is originally set up Co
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  Ch 13 Investing in Mutual Funds

• 2 pages

  • Ch 3
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • How do you calculate the average tax rate? Average tax rate = total tax due/total income What are deductions? Egs? Deductions are expenses that can be deducted from income -> childcare expenses, union dues, disabilitiy support payments, investment counsel
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  Ch 3

Recent Documents

• 67 pages

  • MCS FINAL NOTES.docx
  • University of Guelph
  • Personal Financial Management
  • MCS 2100 - Fall 2013
  • ESTABLISHMENT OF INVESTMENT GOALS Must be -specific -measureable -tailored to personal financial needs -oriented to the future Could be -terms of money by 2018 I will have assets of 100000 -terms of particular things by 2018 I want enough to buy a cottage
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  MCS FINAL NOTES.docx

• 3 pages

  • MCS 2100 unit 2
  • University of Guelph
  • MCS 2100 - Summer 2017
  • Main tax form = T1 General - taxable income, any income deductions & federal/provincial tax payable amounts - schedules used to calculate amounts inputted in T1 General - main schedules calculate federal/provincial tax payable, investment income, tuition/
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  MCS 2100 unit 2

• 2 pages

  • MCS 2100 unit 3
  • University of Guelph
  • MCS 2100 - Summer 2017
  • Types of financial institutions - federally regulated in CA - rare for financial institutions to fail (often merge) deposit type = banks trust companies, credit unions - taking money on deposit & primary source for consumer loans - schedule 1 = Canada own
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  MCS 2100 unit 3

• 3 pages

  • MCS 2100 unit 4
  • University of Guelph
  • MCS 2100 - Summer 2017
  • Credit = arrangement to receive cash, goods, services now & pay later Consumer loans = mortgages, car loans, consumer installment loans & demand loans Car loan vs leasing - cash, dealership financing, leasing or bank loan - need down payment & make regula
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  MCS 2100 unit 4

• 1 pages

  • MCS 2100 unit 5
  • University of Guelph
  • MCS 2100 - Summer 2017
  • Housing - classified by physical form and by tenure (financial arrangements under which someone has the right to live) - tenancy = landlord owns unit & occupies tenant - ownership = own & lived there - sole ownership = individual/couple sole owners - cond
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  MCS 2100 unit 5

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Personal Financial Management Questions & Answers

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