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QUESTION 41

According to the Wealthy Barber, one dollar saved is two dollars earned

True

False

2 points

QUESTION 42

Taxes withheld from your wages include

		FICA and Medicare
		Self-Employment Tax
		Earned Income Credit
		W-2s

2 points

QUESTION 43

Your credit score is determined primarily on the basis of

		your credit history
		your current debt
		your character
		the types of credit issued to you

2 points

QUESTION 44

The effect of paying points on your monthly mortgage payment is to

		raise it
		lower it
		gain liquidity
		avoid opportunity costs

2 points

QUESTION 45

The person(s) you choose as executor(s) of your estate will be responsible for

		a. paying your debts
		b. serving as guardians to your children
		c. distributing your remaining assets
		d. a and c only
		e. all of the above

2 points

QUESTION 46

The purpose of credit ratings is to estimate

		how dependent you are on credit
		whether you can pay your debts
		whether you can afford to take on more credit
		all of the above

2 points

QUESTION 47

Financial advisors may assist through all the following services EXCEPT

		Tax Planning
		Career Planning
		Estate Planning
		Investment Planning

2 points

QUESTION 48

Arranging for the legal distribution or management of everything you own after your death is known as

		dying intestate
		probate
		estate planning
		power of attorney

2 points

QUESTION 49

It is January 1st. Your boss promises you a $3,000 Christmas bonus this year, payable on December 31st. The expected inflation rate this coming year is 3%. How much purchasing power will the $3,000 lose in the coming year?

		$31.82
		$90.00
		$120.00
		$248.52

2 points

QUESTION 50

Your husband died last year. You received a $250,000 from his insurance policy. You must declare this as income on your tax return for last year.

True

False

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