Fp 101 Final Exam

Topics: Taxation in the United States Pages: 3 (580 words) Published: September 24, 2011
Topic:
Question: What is the basis for the concept of risk pooling? Answer: the law of large numbers.
Key Terms: Risk pooling
Topic:
Question: How do insurers determine appropriate premiums for policyholders? Answer: by evaluating risk classifications
Key Terms: Risk classifications
Topic:
Question: What is the term used to describe the situation when a person dies without a valid will? Answer: intestate.
Key Terms: Intestate, Wills
Topic:
Question: How would you report a college scholarship for tuition expenses on your tax return? Answer: excluded from reporting as income
Key Terms: College scholarships
Topic:
Question: Which of the following is considered a tax credit, which will directly reduce the taxes you owe? Answer: Earned Income Credit
Key Terms: Tax credits
Topic:
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

Topic:
Question: What is the basis for the concept of risk pooling? Answer: the law of large numbers.
Key Terms: Risk pooling
Topic:
Question: How do insurers determine appropriate premiums for policyholders? Answer: by evaluating risk classifications
Key Terms: Risk classifications
Topic:
Question: What is the term used to describe the situation when a person dies without a valid will? Answer: intestate.
Key Terms: Intestate, Wills
Topic:
Question: How would you report a college scholarship for tuition expenses on your tax return? Answer: excluded from reporting as income
Key Terms: College scholarships
Topic:
Question: Which of the following is considered a tax credit, which will directly reduce the taxes you owe? Answer: Earned Income Credit
Key Terms: Tax credits
Topic:
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
Topic:
Question: What is the basis for the concept of risk pooling?...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay on Fp/101 Final Exam
  • Essay about Chemistry 101 Final Exam
  • Econ 101 sample exam Essay
  • HRM 595 Final Exam Essay
  • Accounting Final Exam Essay
  • MGT 230 Final EXAM Essay
  • Essay about ECO 372 Final Exam
  • Essay on ECO 550 FINAL EXAM

Become a StudyMode Member

Sign Up - It's Free