Fin 008 - Personal Finance and Investments » Winter 2021 » Quiz 2
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Question #1
Examples of annuities include all the following EXCEPT
A.
savings plans.
B.
mortgages.
C.
retirement plan payouts.
D.
one-time cash flows.
E.
layaway purchases.
F.
Question #2
The formula PV x (1+r)t = FV expresses the relationship between
A.
discount rate and risk.
B.
utility and value.
C.
risk and the value of money.
D.
present and future value.
E.
liquidity and time.
Question #3
Time affects value by
A.
decreasing distance to liquidity.
B.
postponing choice.
C.
delaying opportunity costs.
D.
reducing risk.
E.
discounting value.
Question #4
Capital expenditures are usually part of a short-term plan or goal.
A.
FALSE
B.
TRUE
Question #5
Examples of recurring expenditures are
A.
buying houses.
B.
living expenses.
C.
purchases of durable goods.
D.
paying off your loans.
E.
capital improvements.
Question #6
Examples of recurring incomes are
A.
birthday gifts.
B.
wages or salary.
C.
lottery winnings.
D.
taxes paid on dividends.
E.
having a yard sale.
Question #7
The appropriate time period for the budget process is based on
A.
getting manageable and meaningful data.
B.
being conservative in your expectations.
C.
reaching your financial goals.
D.
once you have made lots of money.
E.
once you have lost all your money.
Question #8
The budget process begins with
A.
adjusting expectations.
B.
monitoring outcomes and analyzing variances.
C.
defining goals and gathering data.
D.
creating the budget.
E.
reconciling goals and data.
Question #9
To avoid unwelcome adjustments, you should
A.
be conservative in your expectations.
B.
stick with long-term goals.
C.
switch to less desirable choices.
D.
avoid emotional attachment to goals.
E.
redo your budget each week.
Question #10
A 1099 Form is used to report other or miscellaneous incomes to you and to the IRS.
A.
TRUE
B.
FALSE
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