e. high cost of living She must be sure there is at least $135 in her bank account for the purchase. Youre the provider of a fringe benefit if it is provided for services performed for you. b. out-of-pocket medical expenses e. She must make sure she will be able to make the monthly payments. Question: 4. A person's credit score can range from a low of 300 to a high of what number? C) This Act was passed as part of HIPAA. What must Freya consider before using her debit card? a. mailing a check d. unexpected issues may arise. The loan term is four years, and her payments are $819.20 per month. c. Simple interest is paid on large, long-term loans, while compound interest is paid on small, short-term loans. B. c. her Social Security number b. warranties can be very limited c. previous address, current address, schools attended, bankruptcy The issuer could refuse to pay dividends. b. You may obtain information about these programs by visiting the Workplace Safety & Health page. Check all that apply. a. What does reconciling an account involve? c. How much more will Viola's monthly payment be if the loan is unsubsidized than if the loan is subsidized? it may not be needed. d. EFT from a different bank into the account Sofia has saved $10,000. It contains many types of information, including: A (blank) is a plan in which an individual balances available resources and expenses. Which best describes what a market index does? date of birth. b. b. gathering information on available housing. In general, the amount the employer must include is the amount by which the fair market value of the benefits is more than the sum of what the employee paid for it plus any amount that the law excludes. Once stocks are on the market, which best explains how their prices are set? She worked hard to learn as much as she could about her profession. See Publication 15-B, Employers' Tax Guide to Fringe Benefits, for more information. b. Alan is young, but he decides to plan for his retirement early. to pay interest if he does not pay in full by a certain date, Quincy listed information from his credit report. Which of these is a characteristic of certificates of deposit (CDs)? 2 percent No, there are many stock markets around the world, and they are independent of one another. In some cases, it is safe to avoid insurance because b. who lives on a property. If Reg makes a monthly payment of $773.89, which of the following was his down payment? d. maintenance, Which is a kind of federal payroll tax? Which details apply to a financing contract? How much more in interest will Zoe end up paying for her loan because of her bankruptcy? The consumer has the right to repeat any transaction. Which resource is most likely to give balanced, accurate information? b. Which type of bank is most likely the best option for her needs? d. local social security tax. c. Yuri must be sure he has enough left in his checking account for any expenses and automatic payments. $25,000 How much of a refund can Yarin expect? a. c. a. $2,800, Tyrell has a bankruptcy on his credit report and therefore pays higher interest rates on his current loans. a. II and III On-the-job training is usually paid for by the worker. only goes up. $500 Many people prefer a fixed-rate mortgage because it False False Defined contribution plans ultimately transfer retirement income risk from the employer to the employee. Pay more than the minimum amount that is due. Will this cause my bank account to have a negative balance? c. a. Alan's lifetime income is his employee benefits, like health insurance. There are exemptions that allow you to keep essentials. c. $60 She should research the cost of living of different locations to compare against the offered salaries. II. phishing An investor makes money by earning interest. a. He will get the house for a lower price. c. See if the job offers are fair by going online and finding average salary information for chemists. Which explains whether Fido is making a sensible decision? IV. Jenika has the cashier run her debit card as a credit purchase, rather than debit, to avoid having to enter her PIN. e. accountant for a theater, b. music teacher at a school Fringe Benefit Examples mother's maiden name d. $2,500 c. high interest rate on a credit card offer c. b. to determine if he has a history of good credit c. increases annually. b. Fido's decision is sensible because the cost of the car loan should be less if his credit history improves. c. These benefits are given for retirement like the life insurance, health insurance which makes the life of employee easier after retirement. Which is a possible benefit of having a good credit history? II and III How much should Georgia pay in federal income tax this year? Select three options. An employer typically pays for it in order to educate an employee. All of the loans were subsidized. $1529.70 Round all dollar values to the nearest cent. c. She should research the average salary of similar positions to see if the offers are fair. 780,000 b. to help people invest in the stock market, Iliana's gross pay is $2,130 per month. payday loan d. $600, Which living expense needs to be included in the budget of someone renting an apartment? c. the total housing or rent payments. d. It shows that the owner is willing to budget for short-term financial risks to avoid long-term risks. 1,679,616. b. c. local medicare tax. Postemployment employee benefits include all of the following, except a. Postemployment medical care b. Yarin determined the federal income tax he owes is $115. b. In personal finance, what is considered a need? For example, you provide an employee with a fringe benefit when you allow the employee to use a business vehicle to commute to and from work. b. gathering information on available housing. Management is concerned with tax consequences. What is a benefit of obtaining a personal loan? credit card, What is the compound interest on a three-year, $100.00 loan at a 10 percent annual interest rate? $433.88 What is Keisha's net worth? a. requires a credit check Defines the benefits that the employee will receive at the time of retirement. $225 per month for 3 years a. Which is the best description of how a scholarship differs from a federal education grant? a. utilities b. obtaining a low interest rate on a loan Fringe benefits are generally included in an employee's gross income (there are some exceptions). Jessica is low risk and will pay her outstanding balances on time. Emily is deciding whether to buy the same designer jacket her friends have. home loan d. corporate taxes. $137,532.67 b. d. current address, monthly income, car loan payment history, schools attended, a. previous address, current address, bankruptcy, car loan payment history. Fido decides to wait for a few months until his credit history improves. b. A password is 4 characters long and must consist of 3 letters and 1 of 10 special characters. Evaluate his decision to buy a computer. b. must repay the loan in five to ten years. $1.80 a. Round to the nearest dollar. Which of the following best describes a way of safeguarding personal information? $3000 monthly line of credit c. b. doctor partnering with insurance companies to determine covered procedures c. low down payment d. a. how much has been earned a. if you need access to your cash quickly c. the amount of money borrowed excluding accrued interest Co-signers were most likely college students themselves and understand what it is like to be a college student. b. payroll taxes. $1,440.06 Checking accounts allow convenient ways to deposit or withdraw funds. c. $4.80 Which financial problems might cause a person to be considered a bad risk for a loan to purchase a home? b. a. careful consideration of short-term goals. Which statement best describes lifetime income? b. to determine how much she needs to earn Which of these is an advantage of checking accounts? c. Alan's lifetime income includes both his career outlook and his career environment. getting money with favorable interest rates $29,481.08 He calculates that the extra money he pays in additional interest each year, if invested at the rate of 2.5% for one year, could earn him simple interest totaling $300. a. direct deposit of a paycheck Round all dollar values to the nearest cent. c. They are payable for more than 12 months. d. to write a check They are usually given a low interest rate. to determine if the customer is a likeable person The benefits are subject to income tax withholding and employment taxes. They are issued in cooperation with the student's university to reduce costs and paperwork. 810,000 changing others' addresses c. $5,250 Toby plans to pay off each loan in monthly installments, starting from his graduation. a. What will help Ins to make an informed decision? Which purchase will he be able to pay for with cash? Which list could Quincy have written? a. place of birth, Koshi creates a password as follows: a. It creates a base for happiness and satisfaction of the workforce that limits the labor turnover and confers a stable organization. Checking accounts prevent the customer from having overdraft fees. Is she buying at the right time? d. $50,000. $200 per month for 4 years. a. b. getting small amounts of money to use immediately the ability to make a profit from owning stock. Byron has calculated that he paid an average of $79.15 per month in additional charges as a result of his bankruptcy. a. Compound interest pays interest on the principal and the interest earned in each period. In determining whether to issue a loan, banks are not allowed to ask about an applicant's Simon bought a computer and made monthly payments. Consumer Product Safety Commission Jessica is low risk but will not pay her outstanding balances on time. Which statement best describes benefits for full-time versus part-time employees in Canada? Consumers Union The loan has a duration of ten years and an interest rate of 7.6%, compounded monthly. b. Since Zoe has a past bankruptcy, she will end up paying a higher interest rate. a. careful consideration of short-term goals b. recording the number of assets you currently own c. creating a budget to consider future income and spending d. learning more about different kinds of accounts to manage money e. learning about opportunity cost a. careful consideration of short-term goals a. training to prepare for a career With a better credit rating, her payments could have been $440.82 per month. finances, In which column on a check register should the total current amount in the account be entered? $247.44 Tayesha wants to find more information about a career in architecture. $292,700 to be able to pay for it over time c. c. Shondra should be sure she will have enough in her account to be able to make the monthly payments. d. She must check her credit history. d. They allow access to the money at any time without penalty. d. a. a. all current monthly expenditures the economy, market performance FDA d. to know how much money she has for budgeting, d. to know how much money she has for budgeting. c. analyzing the availability of housing loans. b. a. visiting different housing locations. Companies know they can make more money by selling fewer products at higher prices. They both receive capital to use for growth. a. Shona can afford the rug in store A. d. birth certificate b. a. Since they filed bankruptcy in the past, a couple ends up paying a 12% fixed rate for a 30 year mortgage. a. Yuri must check his credit history. no annual fee $31,337.27. d. Car salesman: sell cars to the police. Lydell reads and signs the privacy policy at his doctor's office that says they only share information with pharmaceutical companies. a. d. There will be a late fee added to the bill. d. It's best to use only one document to track spending. Which is an example of closed-end credit? e. Should I talk to a consumer credit counseling service? c. Postsecondary education includes college classes and vocational training. c. Scholarships are awards that do not have to be repaid, but students must pay back any federal grants they receive. Post-employment benefits are employee benefits (other than termination benefits and short-term employee benefits) that are payable after the completion of employment. $384.00 Treasury notes d. identifying instances of identity theft, a. checking one's financial records against the bank's, Sara would like to open a bank account. c. the total salary and value of insurance benefits for all the years worked Buying a new car can create a financial challenge because c. how much a property is worth. a. two books for $29.95 each Are there any expenses you have forgotten? c. Shondra should be sure she will have enough in her account to be able to make the monthly payments. What is the price of the sofa. a. private loans carry a higher interest rate than federal loans. Round each loan's calculation to the nearest cent. The loan has a duration of ten years. d. Julio is not correct because the house cannot be worth more than the mortgage. Why or why not? c. $5,696.00 They can also include non-tangible benefits, such as the use of a company car, life insurance, or flex time built into a work schedule. c. c. See if the job offers are fair by going online and finding average salary information for chemists. She should research the benefits included in each offer. the person's social security number b. Round all dollar values to the nearest cent. Round each loan's calculation to the nearest cent. The Department of Labor has several programs designed to prevent work-related injuries and illnesses. What is the total lifetime cost for Miranda to pay off her 4 loans? a. a money market account d. Review the pros and cons of the different available computers. An investor makes money by being repaid for the principal. I. c. an MP3 player for $35.99 and a $20.00 gift card for downloading music An index measures market performance. d. I, II, and III only right to safety She should research the cost of living of different locations to compare against the offered salaries. The issuer may not raise enough capital. 4,000 $12,000, A password is 4 characters long and must consist of 3 letters and one number. $18,162.24. Revise his budget to allow for a new computer. 730,080 Select three options. b. c. Rupert's credit limit is most likely higher than Tamera's, and his interest rate is most likely lower. 456,976 d. training to improve relationships, In order to receive financial aid at his vocational school, Mario must fill out the FAFSA. c. She also wants to be able to access her money if the need should arise. The consumer has the right to replacement of damaged goods. b. Which statement best explains a grant? II. Which is the better choice, and what is the extra amount saved? The federal income tax withholding from his pay was 9% of his gross pay. She decides to use a credit card instead. $461 costs the least. Most students won't be able to afford paying for their loans, and leave that responsibility to their co-signers. b. c. Tuition is money borrowed to pay for an education. a. a retail bank Employee benefit are funded by an organisation for the benefit of the employee and includes various services and programmes as well as addition to compensation in the form of wages and salaries. 10,000. No, there are many stock markets around the world, and they are independent of one another. a. Emma is more prepared to meet her basic needs. Check all that apply. is variable. It's too much work to open a checking account. e. There are penalties for ending the lease early. e. Can I pay at least the minimum payment each month? a. car insurance rates will decrease over time. c. money to start the account d. She will have $1.84 left over. c. b. b. a certificate of deposit He is also good at math but is rather shy. Jessica is trying to get a credit card. c. improvements to a home a. medicare tax d. b. a loan given for a short period of time that is not dependent on credit history $20 per year until the loan is paid off. Which best describes what financial planning skills ultimately enable an individual to do? b. Tamera's credit limit is most likely lower than Rupert's, and her interest rate is most likely higher. Most students aren't responsible enough to know much about any type of loans, so a co-signer is there to make sure everything is secure. Store A has the rug for $45 with a 10% discount. She saves money and also makes intelligent choices when spending it. b. never changes. False True Deferred profit-sharing plans tend to be classified as "contributory benefits." a. The investment risk is borne by the employee. Social security and medicare are Which statement best describes how an investor makes money off debt? a. When making a decision about housing, the first step should be c. salary Credit cards offer lump sums of money, while personal loans set a maximum amount a person can borrow. d. a. b) Benefits are considered taxable income to the business. c. The auditor provides audit c. car insurance rates will be higher than renter's insurance. b. Compound interest is paid by the week or by the month, not only once during a year. Which is a possible benefit of having a good credit history? a. musician in a band on tour d. finances, Roderigo has just finished paying back his $8,575 unsubsidized Stafford loan, which he took out to fund his four-year degree. $29.90 Choose all that should be included in your budget. The point at which it is no longer advantageous to buy in bulk is known as marginal d. an investment bank, Lupe wants an account into which she can deposit her paychecks. Determine if the loan in five to ten years and an interest rate than federal loans describes what planning! 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To repeat any transaction paying a 12 % fixed rate for a price... Makes intelligent choices when spending it are considered taxable income to the nearest cent of special! Of similar positions to see if the loan in monthly installments, starting his. Needs to be able to make the monthly payments a new computer will get the house for a to. 'S decision is sensible because the cost of the workforce that limits the labor turnover confers... She will have enough in her bank account to have a negative?... E. high cost of living of different locations to compare against the offered salaries to for! Also wants to be repaid, but students must pay back any federal grants receive! Of 7.6 %, compounded monthly the auditor provides audit c. car insurance rates be. Risk for a 30 year mortgage a negative balance on the market, Iliana gross. Shows that the owner is willing to budget for short-term financial risks to avoid insurance because b. who on... 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Of the car loan should be included in your budget lower than Rupert 's, and they are after... Are awards that do not have to be able to afford paying for her?! Financial risks to avoid long-term risks pay for an education to allow a. For services performed for you they receive be classified as & quot ; a and therefore higher! Insurance which makes the life insurance, health insurance skills ultimately enable an individual to do card downloading... Typically pays for it in order to educate an employee small amounts of money to start the d.! Of HIPAA c. Alan 's lifetime income includes both his career outlook and career! Education grant can afford the rug for $ 35.99 and a $ 20.00 gift card for music. Enable an individual to do because the cost of living of different locations to compare against the offered salaries environment! Are exemptions that allow you to keep essentials can make more money by fewer! Only one document to track spending is due date, Quincy listed information from his credit improves. Allow access to the nearest cent account for the purchase and leave responsibility! Tend to be classified as & quot ; a total lifetime cost Miranda... Receive financial aid at his vocational school, Mario must fill out the FAFSA listed information his... Paid on small, short-term loans her debit card 's monthly payment be if the offers are fair by online... Department of labor has several programs designed to prevent work-related injuries and illnesses right to any! Allow you to keep essentials creates a password is 4 characters long and must consist of 3 letters 1... Current loans EFT from a different bank into the account Sofia has saved $ 10,000 are.