Strayer FIN 215 Week 5 Midterm 1 with Answers
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FIN 215 Midterm 1 Answers (Strayer)
1. Family financial goals should be
2. The average propensity to consume refers to the
3. Utility refers to
4. The three key groups in the economic environment are
5. The term most closely associated with quality of life is
6. Estate planning involves
7. You are more likely to achieve your goals when
8. In order to minimize the difficulty associated with meeting monthly loan payments, the debt service ratio should be
9. The main purpose of a budget is to
10. The balance sheet describes a family's wealth
11. Another term sometimes used instead of net worth is
12. The expenditure categories for your budget should be determined by
13. Your average tax rate is your
14. You are preparing your own tax return. The least costly source for answering your questions would be
15. The federal income tax is
16. Your income tax withholding is dependent on
17. ____ income is subject to federal taxes.
18. To qualify for the capital gain exclusion on a home sale, the seller must have resided in the residence for ___ of the previous 5 years.
19. For tax purposes, head-of-household refers to
20. Christina works at a company that offers direct deposit of her paycheck. This service is called
21. There are numerous advantages and disadvantages of on-line bill payment systems. Which of the following is a potential advantage?
22. If you write a check for an amount greater than your account balance, the result will be
23. A check you issued last week has been stolen. You can prevent it from being withdrawn from your account by an unauthorized person by
24. Alice lost her ATM card at the lake and forgot it was missing until her monthly statement came 26 days later. She found that $800 had been withdrawn from her savings account. The most Alice will be legally liable for assuming she notifies the bank at this point is
25. Janie Long has checking and savings accounts in a federally insured financial institution. The maximum amount of her insurance coverage is
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