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.
E.
one-time cash flows.
F.
layaway purchases.
Question #2
The formula PV x (1+r)t = FV expresses the relationship between
A.
risk and the value of money.
B.
liquidity and time.
C.
present and future value.
D.
utility and value.
E.
discount rate and risk.
Question #3
Time affects value by
A.
postponing choice.
B.
discounting value.
C.
delaying opportunity costs.
D.
decreasing distance to liquidity.
E.
reducing risk.
Question #4
Capital expenditures are usually part of a short-term plan or goal.
A.
TRUE
B.
FALSE
Question #5
Examples of recurring expenditures are
A.
paying off your loans.
B.
buying houses.
C.
purchases of durable goods.
D.
capital improvements.
E.
living expenses.
Question #6
Examples of recurring incomes are
A.
birthday gifts.
B.
having a yard sale.
C.
lottery winnings.
D.
taxes paid on dividends.
E.
wages or salary.
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.
once you have lost all your money.
D.
once you have made lots of money.
E.
reaching your financial goals.
Question #8
The budget process begins with
A.
monitoring outcomes and analyzing variances.
B.
adjusting expectations.
C.
reconciling goals and data.
D.
defining goals and gathering data.
E.
creating the budget.
Question #9
To avoid unwelcome adjustments, you should
A.
avoid emotional attachment to goals.
B.
stick with long-term goals.
C.
be conservative in your expectations.
D.
switch to less desirable choices.
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.
FALSE
B.
TRUE
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