Exam 15: Personal Finances

Discuss the savings rate and it's implication for the U.S.economy.

Individuals with high FICO scores are likely to have to pay higher interest rates, if they can get a loan at all.

Most young people can get along without medical insurance.

Consumer spending in 2014 rose to its highest level since 2007.

Insurance pays an income to an insured person when he or she is unable to work for an extended period of time.

To understand the value of saving money, the most important thing to learn is the power of _____.

It is required by law that employer-sponsored health insurance plans cover the employee, the employee's spouse and their children.

Life stages and events play a big part in the determination of financial planning.

There are four main steps in financial planning that everyone should follow.

When home buyers couldn't make their house payments, _____ plummeted in value.

If you take out a $10,000 loan to buy a used car and pay the loan off in four years, your borrowing cost at 14% is _____ as it is at 6%.

With _____, the interest earned on your savings in a given time period is added to the money in your savings account, and the new total (principal plus interest) earns more interest.

An expense variance occurs when the actual amount of expenditure is higher than the budgeted amount (or vice versa).

Which type of student loan accrues (builds up) interest while the student is enrolled in college at least part-time?

In compiling your credit score, the credit bureaus considers all of the following except_____.

A big advantage of a credit card is that:

FICO stands for Fair Isaac Company-the company that developed the credit score.

A(n) _____ is a form of retirement savings plan in which the employee contributes money each pay period to his or her retirement account and the employer matches a portion of the contribution.

Net worth and cash?flow statements are most valuable when used together.

The purpose of a résumé is to get an interview.