Personal Finance
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Avg score: 41% • Most missed: “Preferred stock has which of the following advantages over common stock?”
Personal Finance
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25 Questions

1. When choosing a bank checking account - a consumer should consider which of the following? I. Interest rate offered II. Services available III. Convenience IV. Whether the bank is a national or a state institution
2. Which of the following is a benefit of renting instead of buying a home?
3. A person named in a will to carry out its directions and help settle an estate is called the
4. Which of the following statements is true about IRAs and Keogh plans?
5. Preferred stock has which of the following advantages over common stock?
6. A married couple who files a joint tax return has an adjusted gross income of $50000 before considering capital-gain transactions. If they have short-term capital gains of $500 and long-term losses of $6000 - what is the adjusted gross income on their federal tax form after calculating the capital gains transactions?
7. One of the primary purposes a person should have in setting long-term financial goals is to help the person
8. Which of the following approaches to investment analysis assumes that each particular stock has an intrinsic - or true - value based on its expected future earnings?
9. Which securities market index is the most widely reported - even though it contains only 30 stocks?
10. The cost of an automobile lease is based on all of the following EXCEPT the
11. An umbrella insurance policy is a personal catastrophe policy that provides protection for
12. To determine future Social Security benefits - a wage earner should do which of the following?
13. The regulation of securities is enforced by which of the following authorities?
14. All of the following are effective ways of reducing federal estate taxes EXCEPT by creating a(n)
15. Which of the following statements is true about Social Security benefits?
16. What is the maximum amount a married couple may give to one person per year to reduce their federal estate taxes - without reporting the gift to the IRS?
17. Which of the following investments would be most appropriate for a family’s emergency fund?
18. When someone purchases a stock in the over-the-counter market - the price the buyer pays is the
19. The primary function of the Federal Reserve is to
20. Which of the following financial institutions usually offers the highest interest rate on savings?
21. Medigap supplemental insurance is sold in connection with which of the following?
22. If a $1000 certificate of deposit (CD) earns 6% interest annually - how long will it take to double in value?
23. A consumer carries a monthly credit card balance of $1000 and has a credit limit of $5 - 000. From this consumer’s point of view - the best type of credit card is one that offers
24. The best measure of the cost of a consumer loan is the
25. Tax advice may be provided best by a person who holds which of the following professional designations?

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