Fp 101 Final Exam

1420 WordsNov 13, 20116 Pages
Final Assignment FP 101 1) When does repayment of a PLUS loan begin? | A. 6 months after disbursement | | B. 6 months after graduation | | C. 9 months after graduation | | D. 2 months after disbursement | | | | 2) Which of the following is true about credit reports? | A. A credit report does not list requests for your credit report. | | B. You always have to pay for a credit report | | C. There is only one credit bureau that provides credit reports | | D. You can get a free credit report by contacting a credit bureau. | | | | 3) Which of the following is true about student loans? | A. All student loans are subsidized. | | B. All student loans are issued by the federal government. | |…show more content…
| | | | 19) How does life insurance differ from other types of insurance? | A. The risk of a policy payout is 100 percent. | | B. Life insurance policies are very short-term. | | C. Insurers almost never need to pay a claim. | | D. Life insurance is not based on risk pooling. | | | | 20) Which of the following is not one of the main sources of auto dealer profits? | A. licensing fees | | B. service contracts | | C. manufacturer allowances | | D. profit to be on traded vehicle | | 21) When do medical expenses qualify as a deduction? | A. When the total is less than your adjusted gross income. | | B. When the total is greater than half of your adjusted gross income. | | C. When the total is less that the designated percentage of your gross income. | | D. When the total is greater than the designated percentage of your adjusted gross income. | | | | 22) Which of the following is considered a tax credit, which will directly reduce the taxes you owe? | A. Gifts to charity | | B. Medical expenses | | C. Mortgage interest | | D. Earned Income Credit | | | | 23) Which of the following statements is not true regarding spousal benefits under Social Security? | A. There are no protections in the program for women who do not work outside the home. | | B. If a woman remarries, she will not be eligible for a divorcee benefit. | | C. A divorced woman may receive 50 percent of her

More about Fp 101 Final Exam

Open Document