Here is some additional information on items you missed:
Question: What is the term for a budget that starts with the absolute necessities and debt payments and then adds expenditures until there is no more cash?
Answer: zero-based budget
Key Terms: Zero-based budget |
Question: What type of mortgage loan has a fixed rate, fixed term and fixed payment?
Answer: conventional mortgage.
Key Terms: Conventional mortgages |
Question: Who is the principal for whom a real estate broker works?
Answer: the seller
Key Terms: Real estate broker’s client |
Question: How do insurers determine appropriate premiums for policyholders?
Answer: by evaluating risk classifications
Key Terms: Risk classifications |
Question: When do medical expenses qualify as a deduction?
Answer: When the total is greater than the designated percentage of your adjusted gross income.
Key Terms: Medical expense |
Question: Which of the following is not one of the suggested ways to find money to invest?
Answer: Use existing home equity
Key Terms: Investing |
Question: Which of the following methods for estimating retirement income needs assumes retirement expenses will be some fixed proportion of your preretirement needs?
Answer: replacement ratio method
Key Terms: replacement ratio method |
Question: Which retirement saving program has a benefit that will depend on your yearly contribution and the rate of return on invested assets?
Answer: defined contribution plan.
Key Terms: Contribution plan |
Question: What type of annuity pays an equal annual amount until death?
Answer: single life annuity
Key Terms: Life annuities | [continues]
Cite This Essay
(2011, 09). Final Exam Personal Finance. StudyMode.com. Retrieved 09, 2011, from http://www.studymode.com/essays/Final-Exam-Personal-Finance-790321.html
"Final Exam Personal Finance" StudyMode.com. 09 2011. 09 2011 <http://www.studymode.com/essays/Final-Exam-Personal-Finance-790321.html>.
"Final Exam Personal Finance." StudyMode.com. 09, 2011. Accessed 09, 2011. http://www.studymode.com/essays/Final-Exam-Personal-Finance-790321.html.