Devry BUSN 380 ALL Week Quiz Latest
Devry BUSN 380 Week 1 Quiz Latest
Devry BUSN380 Week 1 Quiz Latest 2016 Jan.
- 1.Question : (TCO 1) A(n) _____ summarizes your current financial situation, analyzes your financial
needs, and recommends a direction for your financial activities.
Question 2. Question : (TCO 1) In financial planning, a major activity component involves the
allocation of current resources for spending.
evaluation of investment alternatives.
evaluation of one’s career.
selection of insurance coverage.
establishment of credit.
Question 3. Question : (TCO 1) Higher interest rates can be caused by
increased saving and investing by consumers.
an increase in the money supply.
a decrease in consumer borrowing.
lower government spending.
a lower money supply.
Question 4. Question : (TCO 1) The _____ refers to stages that an individual goes through based on age,
financial needs, and family situation.
financial planning process
adult life cycle
personal economic cycle
tax planning process
Question 5. Question : (TCO 1) The future value of an account in which $2,000 is deposited each year for 5
years, and which earns 4%, is approximately _____ after 5 years.
Question 6. Question : (TCO 1) Higher employment levels can be attributed to
lower consumer prices.
reduced employment levels.
lower interest rates.
higher employment levels.
increased consumer spending.
Question 7. Question : (TCO 1) When it comes to the financial planning process, the first step is to
develop financial goals.
implement the financial plan.
evaluate and revise your actions.
analyze your current personal and financial situation.
create a financial plan of action.
Question 8. Question : (TCO 1) The simple calculation of interest can be performed by multiplying the amount in
a savings account by the
annual interest rate.
annual interest rate and the time period.
number of months in a year.
time period and number of months.
Question 9. Question : (TCO 1) Brad Opper has a goal of “saving $50 a month for vacation.” Brad’s goal lacks
a realistic perspective.
the type of action to be taken.
a time frame.
Question 10. Question : (TCO 1) _____ risk refers to the changing cost of money.
Question 11. Question : (TCO 1) You want to determine the current value of an annuity that pays $350 a month
for the next 5 years. What type of calculation would provide you with this value?
Future value of a single amount
Present value of a single amount
Future value of a series of deposits
Present value of a series of deposits
Question 12. Question : (TCO 1) A commitment to a profession that requires continued training and offers a clear
path for occupational growth is a(n)
cooperative employment experience.
Question 13. Question : (TCO 1) In order to evaluate one’s current financial position (including net worth), the
best tool that can be used is a
cash flow statement.
Question 14. Question : (TCO 1) A _____ résumé would best be used by an employee who has worked in many
fields and has a variety of skills in a variety of work-related categories.
Question 15. Question : (TCO 1) A _____ résumé is designed to obtain a specific job.
Question 16. Question : (TCO 1) Which of the following would be a competency commonly associated with
An ability to work well with others in a variety of settings
A desire to do tasks better than they have to be done
An ability to solve problems creatively in team settings
Well-developed written and oral communication skills
All of the above
Question 17. Question : (TCO 1) Cash and other items that are easily converted to cash are referred to as _____.
Question 18. Question : (TCO 1) A savings amount of $3,500 on deposit for 4 years at 4% interest (compounded
annually) would earn about
Question 19. Question : (TCO 1) Solvency can be assessed through the analysis of the following financial
Cash flow statement
Debt consolidation statement
Personal income statement
The balance sheet
Question 20. Question : (TCO 1) Which of the following situations best represents an individual facing
Assets $30,000; liabilities $37,000
Assets $78,000; net worth $22,000
Liabilities $45,000; net worth $6,000
Assets $56,000; annual expenses $60,000
Annual cash inflows $45,000; liabilities $50,000
Devry BUSN 380 Week 2 Quiz Latest
Devry BUSN380 Week 2 Quiz Latest 2016 Jan.
- 1.Question : (TCO 2) This type of tax is calculated based upon the value of land and buildings.
Question 2. Question : (TCO 2) Interest earnings of $2,400 from a taxable investment for a person in a 28% tax bracket would result in after-tax earnings of
Question 3. Question : (TCO 2) _____ can reduce taxable income.
Question 4. Question : (TCO 2) You have invested in the stock market and receive dividends. The dividend income must be reported as _____ income.
Question 5. Question : (TCO 2) George Washburn had earnings from his salary of $44,000, interest on savings of $800, a contribution to a traditional individual retirement account of $2,000, and dividends from mutual funds of $600. George’s adjusted income (AGI) would be
Question 6. Question : (TCO 2) _____ can be calculated as a result of various items being subtracted from gross income, such as individual retirement account contributions and alimony payments.
Adjusted gross income
Question 7. Question : (TCO 2) Expenses that a taxpayer is allowed to deduct from adjusted gross income are called _____.
Question 8. Question : (TCO 2) Taxes owed can be reduced through _____.
the standard deduction
a tax credit
an itemized deduction
Question 9. Question : (TCO 2) In order for a dependent to qualify as an exemption, he or she must
receive more than one half of his or her support from the taxpayer.
be under age 16.
be registered in school.
be a relative.
Question 10. Question : (TCO 2) People who _____ must make estimated quarterly tax payments.
are employed in a foreign country.
work for the government.
do not have adequate amounts withheld from income.
Question 11. Question : (TCO 2) A(n) _____ is an all-purpose account that provides several services.
asset management account
money market account
Question 12. Question : (TCO 2) An example of a _____ deposit is a checking account.
Question 13. Question : (TCO 2) An example of a place where one will encounter high fees for loans when borrowing money is a _____.
savings and loan association
mutual savings bank
Question 14. Question : (TCO 2) _____ are the major products offered by investment companies.
Interest-bearing checking accounts
Credit card accounts
Question 15. Question : (TCO 2) One of the characteristics of a certificate of deposit is that it can have
high interest-rate risk.
low safety for savers.
a variable rate of return.
no minimum deposit amount.
Question 16. Question : (TCO 2) On a savings account, the rate of return can also be referred to as
Question 17. Question : (TCO 2) A savings account in which interest is compounded _____ would have the highest effective yield.
Question 18. Question : (TCO 2) At times, funds deposited in an account may be restricted by_____.
a holding period
Question 19. Question : (TCO 2) Service fees would be _____ in the bank reconciliation process.
added to the bank statement balance
subtracted from the bank statement balance
added to the checkbook balance
subtracted from the checkbook balance
Question 20. Question : (TCO 2) When an individual borrows money to purchase a new home, he or she will be charged a _____.
Treasury bond rate
Devry BUSN 380 Week 3 Quiz Latest
Devry BUSN380 Week 3 Quiz Latest 2016 Jan.
- 1.Question : (TCO 3) Examples of _____ include automobile and installment loans for purchasing furniture or appliances.
a line of credit
a credit card loan
Question 2. Question : (TCO 3) The maximum percentage of your net income that should be spent on credit purchases is recommended to be _____.
Question 3. Question : (TCO 3) One of the concerns and risks associated with cosigning is that
you are not being asked to guarantee the debt.
it is not your legal responsibility to pay the debt.
you’ll have to pay up to the full amount of the debt if the borrower does not pay.
the creditor must first try to collect from the borrower.
the creditor cannot garnish your wages.
Question 4. Question : (TCO 3) Dividing monthly debt payments (not including house payments) by net monthly income will allow you to calculate your _____.
credit capacity status
Question 5. Question : (TCO 3) In determining your credit capacity, you first provide for basic necessities, such as
mortgage or rent.
Question 6. Question : (TCO 3) If you ask to review your file within _____ days of being notified of a denial based upon a credit report, the credit bureau cannot charge you a disclosure fee.
Question 7. Question : (TCO 3) If a bank needs to examine the value of a specific asset when you are applying for a loan, this process refers to which aspect of the five Cs of lending?
Question 8. Question : (TCO 3) When reviewing your credit file, if you find that there is information that is incorrect, then
there are legal remedies available to you.
you have no legal remedies.
credit bureaus are not required to change it.
you can’t really do much about it.
don’t worry much, because you will still get the credit.
Question 9. Question : (TCO 3) All of the following reasons are reasonable situations when you would decide to use credit except
borrowing for a stay in a hospital because of appendicitis.
borrowing to pay for your expensive dinner and movie every week.
borrowing to buy a printer for your home office now because you know it will be twice as expensive in 2 years.
borrowing to purchase a car so that you can go to work full time.
Question 10. Question : (TCO 3) Mary Jones has obtained a loan that must be paid over the next 12 months and she will use this money for a vacation. What type of credit is being used?
Installment sales credit
Single lump sum credit
Installment cash credit
Question 11. Question : (TCO 3) By evaluating your credit options, you can do all of the following except
reduce your finance charges.
reconsider your decision to borrow money.
discover a less expensive type of loan.
find a lender that charges a lower rate.
purchase goods and services without specific limitations.
Question 12. Question : (TCO 3) While collateralized loans may provide lower interest rates, these loans have a disadvantage because
the loan must be repaid in a short period of time.
you ruin your credit rating.
the loan is difficult to obtain.
commercial banks do not make such loans.
the assets used as collateral are tied up until the loan has been repaid.
Question 13. Question : (TCO 3) Referring to trends in credit union membership, it can be observed that membership has been
restricted by the Tax Reform Act of 1986.
restricted by state laws.
Question 14. Question : (TCO 3) Which one of the following is a signal of a potential debt problem?
Paying the maximum balance due each month
Borrowing money to pay old debts
Using savings to pay for major purchases
Receiving notice of prompt payment from creditors
Occasionally working overtime and moonlighting
Question 15. Question : (TCO 3) Allison Smith starts the month with a balance of $1,100 on her credit card. On the 10th day of the month, she purchases $200 in clothes with her credit card. On the 15th day of the month, she makes a payment on her credit card of $500. The average daily balance for the month including the new purchase is $883. The average daily balance for the month excluding the new purchase is $750. Allison’s interest rate is 1.5% for the month. Allison’s bank calculates the finance charge on the credit card by using the adjusted balance method. What would Allison’s finance charges be for the month?
Question 16. Question : (TCO 3) Jerry Dean starts the month with a balance of $1,500 on his credit card. On the 10th day of the month, he purchases $200 in clothes with his credit card. On the 15th day of the month, he makes a payment on his credit card of $500. The average daily balance for the month including the new purchase is $883. The average daily balance for the month excluding the new purchase is $750. Jerry’s interest rate is 1.5% for the month. Jerry’s bank calculates the finance charge on the credit card by using the previous balance method. What would Jerry’s finance charges be for the month?
Question 17. Question : (TCO 3) If Jeff rushes to purchase a home by obtaining an interest-only loan, and the reason why he wants a home is because he wants to have a house just like the one that his parents had when he was a teenager, this is an example of which of the following?
. Misunderstanding or lack of communication
The use of money to punish
Overindulgence of children
Keeping up with the Joneses
The expectation of instant comfort
Instructor Explanation: Chapter 7, page 234
Points Received: 1 of 1
Question 18. Question : (TCO 3) Steve has three children and has purchased each of them his or her own TV that is placed in his or her respective room. Which reason for indebtedness is this an example of?
Misunderstanding or lack of communication
Overindulgence of children
The expectation of instant comfort
Keeping up with the Joneses
The use of money to punish
Question 19. Question : (TCO 3) _____ families rely heaviest on student loans to finance college.
Question 20. Question : (TCO 3) If Tracy Sears borrows $1,250 for 1 year with an APR of 9% with no service fees, what is her total cost of credit?
Devry BUSN 380 Week 4 Quiz Latest
Devry BUSN380 Week 4 Quiz Latest 2016 Jan.
- 1.Question : (TCO 5) Which of the following statements is false?
No one is going to make you save the money; you need to start a program.
To be useful, investment objectives must be very specific.
Investment goals can be different for each individual.
Because investment objectives deal with the future, it is useful to plan more than 5 years in the future.
A long-term investment objective involves a time period of 2 years or less.
Question 2. Question : (TCO 5) If an investment objective is considered to be long term, then this means the goal should be achieved in what time frame?
Less than 2 years
In 2–5 years
More than 5 years
Less than 1 year
None of the above
Question 3. Question : (TCO 5) You currently hold a $1,000 corporate bond; however, if interest rates in the overall economy decrease, which of the following is most likely to be the market value of this bond?
The bond is worthless.
It is impossible to determine whether the bond’s value will increase or decrease.
Question 4. Question : (TCO 5) Which of the following individuals should have the highest tolerance for risk?
Joan Cummings, who is a single mother with two small children
Darren Carter, who works for American Airlines and is worried that he is going to be laid off soon
Barry Parks, who is an investment banker and earns over $200,000 per year
Michael Clark, who is 74 years old and been retired for 6 years
Fred Funderbunk, who delivers pizzas and makes about $15,000 per year
Question 5. Question : (TCO 5) Mary Ann recently received a $20,000 gift from her uncle and is considering investing in stocks, because she knows that historically they have earned an approximately 10–12% rate of return over the last few years. Referring to aspects of investing, Mary Ann is most concerned about which of the following?
Question 6. Question : (TCO 5) A $1,000 corporate bond pays 7.5% a year. What is the annual interest you will receive?
Question 7. Question : (TCO 5) _____ risk occurs when an investment does not keep up with increasing price levels in our economy.
Question 8. Question : (TCO 5) John Farmer recently received a legal form from the company where he owns stocks that list the issues to be decided at the annual stockholders’ meeting. The item asks that he signs something that allows someone else to vote for him. What has he received?
None of the above
Question 9. Question : (TCO 5) Matt Dannon just bought the stock of a company that provides him with the responsibility to approve major company actions. Which one of the following best characterizes this responsibility?
None of the above
Question 10. Question : (TCO 5) If Orlando Blodgett is buying the stock of the Getaway Caribbean Cruise Company. If he buys the stock today, knowing it is the first day it is selling without the dividend for this quarter, on what date is Orlando buying the stock?
Ex dividend date
None of the above
Question 11. Question : (TCO 5) Lindsey Holt owns stock in the Galloway Gems Company. She knows she will receive a $1.50 dividend each quarter. Given this, you know for sure that she purchased which type of stock?
Question 12. Question : (TCO 5) Dividends must be approved by a firm’s board of directors, and
dividend payments are paid out of profits.
dividends are guaranteed.
dividends are paid before a firm’s taxes are paid.
dividends are usually paid twice a year.
dividends can be paid forever.
Question 13. Question : (TCO 5) One option for long-term corporate financing is equity financing, and this is a popular choice because
a lender is always available to provide this type of financing.
it does not cost anything to sell in the primary market.
repayment doesn’t have to be made for 10 years or more.
only interest must be paid for the first 5 years.
it does not have to be repaid.
Question 14. Question : (TCO 5) Dividends will remain with the stock until
5 days after the date of record.
two business days after the date of record.
5 days before the date of record.
two business days before the date of record.
5 days before the actual payment date.
Question 15. Question : (TCO 5) Nancy Groom owns one $1,000 corporate bond issued by Chevron. The bond has a yield of 10% and pays 8% interest semiannually. How much interest will Ms. Groom receive in 1 year?
Question 16. Question : (TCO 5) Which of the statements below is false?
Stock is a form of equity capital.
Stock does not have a maturity date.
Bonds are a form of debt capital.
Bonds do not have to be repaid at maturity.
Interest payments are made to bondholders.
Question 17. Question : (TCO 5) All of the statements are false except for which?
Convertible corporate bonds are more secure than government bonds.
Convertible bonds often pay 3–4% more interest than nonconvertible bonds.
Because of the conversion feature, it is not necessary to evaluate convertible corporate bonds.
Even if convertible bondholders convert their investment to common stock, the bondholders still receive interest payments.
In reality, there is no guarantee that bondholders will convert to common stock even if the market value of the common stock does increase in value.
Question 18. Question : (TCO 5) You have been thinking about investing in corporate bonds, but are seeking the most secure bond investment possible. Most likely, you would want to select _____ bonds.
Question 19. Question : (TCO 5) A(n) _____ fund is a fund to which annual or semiannual deposits are made for the purpose of redeeming a bond issue.
Question 20. Question : (TCO 5) _____ bonds are a part of a single issue, but they mature on different dates.
Devry BUSN 380 Week 5 Quiz Latest
Devry BUSN380 Week 5 Quiz Latest 2016 Jan.
- 1.Question : (TCO 1) Referring to consumer purchases, an example of a personal opportunity cost is
buying on credit.
selecting a commonly known brand.
the influence of advertising on consumers.
time used to compare prices.
government regulation of deceptive business-government activities in an effort to prevent consumer fraud.
Question 2. Question : (TCO 1) The purpose of a cooperative is to
solve consumer complaints.
test consumer products for quality.
lobby for changes in consumer protection laws.
obtain brand-name items for less than wholesale.
sell products or services to members at reduced prices.
Question 3. Question : (TCO 1) _____ brand items are associated with high consistent quality.
Question 4. Question : (TCO 1) A 16-ounce package selling for $1.80 would have a unit price of
$28.80 a pound.
11.25¢ an ounce.
$8.80 a quart.
12¢ an ounce.
Question 5. Question : (TCO 1) A(n) _____ warranty is a specific agreement created by the seller or manufacturer.
Question 6. Question : (TCO 1) The purpose of the _____ is to assist with consumer complaints and also to provide consumer information.
Better Business Bureau
Federal Trade Commission
Question 7. Question : (TCO 1) The difference between mediation and arbitration is that the latter
involves government officials.
is legally binding.
is only available in certain states.
allows compromise through negotiation.
requires the use of a lawyer.
Question 8. Question : (TCO 1) In order for a class action suit to be taken and also to be valid, it must
be a legal problem against a government agency.
cover an amount less than the limit set by the state.
be a case that would not be handled by an attorney.
involve low-income individuals.
involve several people with the same problem.
Question 9. Question : (TCO 1) When a used car has an implied warranty, this means that
major repairs are the responsibility of the seller.
government agencies will repair safety defects.
the vehicle must be in operating condition.
hidden defects will be repaired at no cost to the buyer.
a vehicle must operate properly for at least 1 year.
Question 10. Question : (TCO 1) When reviewing the Edmund’s Guide, you will find information pertaining to
safety problems of existing vehicles.
sales of stolen vehicles.
cars available for sale from government agencies.
Question 11. Question : (TCO 3) When buying a home, one additional cost of ownership will consist of
annual appreciation of the property.
the security deposit.
interest lost on the security deposit.
Question 12. Question : (TCO 3) A home owner will often realize a benefit of
a low security deposit.
increased property value.
the amortization of the growth of equity.
the tax deductibility of the down payment.
Question 13. Question : (TCO 3) An individual could afford to spend more on a home if the following occurs.
High monthly living expenses
Increased interest rates
Decreased down payment
Many other financial obligations
Increased family income
Question 14. Question : (TCO 3) The purpose of a real estate agent is to assist an individual in
obtaining funds for a down payment.
setting the purchase price.
offering new home warranties.
getting a mortgage.
making important calls.
Question 15. Question : (TCO 3) Todd Foley is applying for a $100,000 mortgage. He can get a $600 monthly payment for principal and interest and no points, or a $550 monthly payment with one point. How many months will it take Todd to cover the cost of the discount points if he takes the lower monthly payment?
Question 16. Question : (TCO 3) An example of a conventional mortgage would be
an FHA mortgage.
a home equity loan.
a shared appreciation mortgage.
a fixed-rate mortgage.
Question 17. Question : (TCO 3) A(n) _____ is an interest rate subsidy provided by a builder or real estate developer to assist with home affordability.
growing equity mortgage
shared appreciation mortgage
Question 18. Question : (TCO 3) When _____, homeowners may consider refinancing their mortgage.
interest rates rise
two or more points are required by the lender at the time of closing
the escrow account balance declines
interest rates fall
property values decrease
Question 19. Question : (TCO 3) You should still contact and use a(n) _____ if you sell your home without the use of a real estate agent.
Student Answer: broker
Question 20. Question : (TCO 3) If Jennifer Garland lives in a home assembled in a factory that was then moved to the living site, she is most like living in a
single family dwelling.
Devry BUSN 380 Week 6 Quiz Latest
Devry BUSN380 Week 6 Quiz Latest 2016 Jan.
- 1.Question : (TCO 4) _____ risks refer to potential losses due to negligence resulting in bodily harm or property damage to others.
Question 2. Question : (TCO 4) If you decide to install a new home security system with cameras, this is an example of _____ risk.
Question 3. Question : (TCO 4) The failure to take ordinary and reasonable care is referred to as
Question 4. Question : (TCO 4) If a worker damages your home while painting several rooms, and you take action against the worker’s employer to cover the cost of the damage, this is an example of a(n) _____ liability.
Question 5. Question : (TCO 4) Which of the following is not considered personal property for home insurance coverage?
A permanently installed air conditioning unit
Question 6. Question : (TCO 4) State Farm has provided a quote to you for an umbrella policy. This type of policy provides coverage for
expensive personal property.
additional buildings on your property.
property when traveling away from home.
major personal liability suits.
Question 7. Question : (TCO 4) When obtaining a home insurance policy, you will find that most will already provide coverage for
personal property floaters.
an umbrella liability.
Question 8. Question : (TCO 4) If claims need to be settled based on the current replacement cost of a damaged or lost item less depreciation, then the _____ method should be used.
actual cash value
personal property floater
Question 9. Question : (TCO 4) Your home insurance policy has a $250 deductible. If a small fire causes $900 of damage to your home, what amount of the claim would the insurance company pay?
Not able to determine from this information
Question 10. Question : (TCO 4) _____ coverage pays for medical care for people who were injured in your automobile.
Bodily injury liability
Question 11. Question : (TCO 4) The 50 in 100/300/50 refers to _____ coverage.
bodily injury liability
property damage liability
comprehensive physical damage
Question 12. Question : (TCO 4) If Lisa Johnson is in an accident and the other driver is legally at fault, _____ coverage would pay for damage to her vehicle.
uninsured motorists protection
comprehensive physical damage
property damage liability
Question 13. Question : (TCO 4) Individuals and families purchase life insurance primarily to
pay liability claims resulting from accidents.
fill financial needs created by the loss of the breadwinner.
fund lavish retirement vacations.
keep up with people with a similar financial situation.
make early retirement possible.
Question 14. Question : (TCO 4) You probably have little or no need for life insurance if you are
a single person living alone or with parents.
divorced and have two children.
married and your spouse works.
a household with several children.
Question 15. Question : (TCO 4) Your annual income is $50,000. What is your life insurance need based on the easy method?
Question 16. Question : (TCO 4) Which type of insurance is sometimes called temporary insurance?
Question 17. Question : (TCO 4) All of the following are innovative ways that concerned groups are containing healthcare costs except for
the establishment of incentives to encourage preventive care.
encouraging the use of prepaid group practices.
the establishment of community education programs so people can learn to take better care of themselves.
encouraging doctors to pay cash for routine medical costs.
picketing at hospitals and physician offices.
Question 18. Question : (TCO 4) In order to reduce your healthcare costs, you should do your best to
gain a little extra weight.
smoke and drink.
not seek medical care.
Question 19. Question : (TCO 4) Because coverage and costs can vary from company to company, it is important to shop carefully for _____ coverage.
Question 20. Question : (TCO 4) A(n) _____ policy might not cover all of your health insurance needs or may deny benefits if you lose your job.
Devry BUSN 380 Week 7 Quiz Latest
Devry BUSN380 Week 7 Quiz Latest 2016 Jan.
- 1.Question : (TCOs 6 and 7) The Capitalist Mutual Fund’s portfolio is valued at $48 million.The fund has liabilities of $4 million, and the investment company sponsoring the fund has issued 1,600,000 shares. What is the fund’s net asset value?
Question 2. Question : (TCOs 6 and 7) A(n) _____ mutual fund is one in which no sales charge is paid by the individual investor.
Question 3. Question : (TCOs 6 and 7) The All-Star Basic Value Fund’s portfolio is valued at $215 million. The fund has liabilities of $5 million, and the investment company sponsoring the fund has issued 15 million shares. What is the fund’s net asset value?
Question 4. Question : (TCOs 6 and 7) A(n) _____ fund is a mutual fund that invests in stocks issued by companies with a long history of paying dividends.
Question 5. Question : (TCOs 6 and 7) A mutual fund that invests in the common stocks of companies in the same industry is called a(n) _____ fund.
Question 6. Question : (TCOs 6 and 7) The two real estate investment classifications consist of
participating or nonparticipating.
common or preferred.
cumulative or noncumulative.
direct or indirect.
None of the above
Question 7. Question : (TCOs 6 and 7) Single-family houses are typically expected to observe the following pattern.
Values tend to rise, providing a possible hedge against inflation.
Values rise less than the Consumer Price Index.
Values remain stable in the northern parts of the United States.
Values tend to rise in New England states, but decline in the South.
Values remain unchanged in the United States.
Question 8. Question : (TCOs 6 and 7) Which REIT pools money to finance construction loans?
Question 9. Question : (TCOs 6 and 7) You should invest in _____ if you want a risk-proof real estate investment.
real estate limited partnerships
participation certificates (PCs)
real estate syndicates
Post Office buildings
Question 10. Question : (TCOs 6 and 7) You have purchased a condominium in Orlando, FL in order to rent out rooms to vacationers. What type of investment have you made?
Direct investment in real estate
Indirect investment in real estate
Investment in precious metals
Investment in collectibles
Investment in gems
Question 11. Question : (TCOs 6 and 7) By the time you reach your _____ birthday, you should have established a comprehensive retirement plan.
Question 12. Question : (TCOs 6 and 7) The average life expectancy of a woman at age 65 is
Question 13. Question : (TCOs 6 and 7) If your mortgage is largely or completely paid off, then you may be eligible for a
reverse mortgage annuity.
Question 14. Question : (TCOs 6 and 7) The of division of pensions in a divorce situation primarily depends on the _____.
length of the divorce period
length of the marriage
Question 15. Question : (TCOs 6 and 7) When you retire, which one of the following expenditures is likely to decrease?
Expenses for leisure activities
Gifts and contributions
Question 16. Question : (TCOs 6 and 7) Estate planning involves all but which of the following?
Managing your property while you are alive
Dealing with what happens to that property after your death.
Your family’s financial security in the event of your death
Your family’s financial security in the event of your spouse’s death
Deciding on working part time into retirement age
Question 17. Question : (TCOs 6 and 7) _____ refers to what Gerald Wilkins has in his possession and owns, including a home worth $250,000, a car worth $15,000, various investments worth $600,000, and other personal assets worth $25,000.
None of the above
Question 18. Question : (TCOs 6 and 7) If you do not have a valid will when you die,
the IRS confiscates your property.
the federal court decides how the property should be distributed.
your relatives or friends will get the property.
your local custom will determine how the property is distributed.
the state’s law of descent and distribution becomes your will.
Question 19. Question : (TCOs 6 and 7) Which is a will that leaves everything to your spouse when you die?
A stated dollar amount will
A traditional marital share will
An exemption trust will
A simple will
Question 20. Question : (TCOs 6 and 7) Under a(n) _____, everything will pass to your spouse when you die, with the exception of an amount equal to the exemption, which passes into trust.
traditional marital share will
stated dollar amount will
exemption trust will
Devry BUSN 380 ALL Week Quiz Latest