UGBA 135 EXAM SCRIPT 2026 FULL
QUESTIONS AND ACCURATE ANSWERS
GRADED A+
●● Should you always try to contribute enough to your 401K to get the
employer match?.
Answer: Yes
●● Are community property laws established by the IRS or states?.
Answer: States
●● What is a notary public?.
Answer: A public officer constituted by law to witness the execution of
certain classes of documents like mortgage documents, wills, trusts,
deeds
●● What is a prenup agreement?.
Answer: A prenuptial agreement is entered into before marriage. This
agreement can set forth what will happen to your and your spouse's
assets and income in the unfortunate event of divorce, separation or
death.
●● By filing for bankruptcy, do you get rid of all of your debts?.
Answer: All debts EXCEPT taxes, alimony, child support, student loans
,●● Who said compound interest is the greatest discovery of mankind?.
Answer: Albert Einstein
●● Times of inflation, what happens to the interest rate? (up or down).
Answer: Higher interest rates
●● What's the definition of compound interest?.
Answer: Interest paid on both the principal and accumulated interest
●● Does it take a dollar of wages to pay back $1 of debt?.
Answer: No, it takes more than a dollar due to taxes
●● What is the concept of the time value of money?.
Answer: Money is worth different amounts at different times
●● What is the biggest reason to start saving ASAP?.
Answer: Compounding interest
●● As people get closer to retirement, how should they adjust their
portfolio?.
Answer: Adjust portfolio to be less risky, more bonds less stocks
, ●● What is APR? Is that higher than the annual interest rate?.
Answer: Annual Percentage Rate, higher than the interest rate because
APR includes fees
●● According to the nightingale survey, What % of the people who
people who start working at 25 become financial independence by 65?.
Answer: 5%
●● What types of accounts does the FDIC insure up to $250,000.
Answer: CD, checking accounts, savings accounts, IRA (Individual
Retirement Accounts) and certain other retirement and trust accounts
●● Everytime you get a paycheck, our goal is to save what percent?.
Answer: 15% of total income
●● The RULE OF FRED!!!!!!!!!!!!.
Answer: I GET PAID FIRST
●● What's the first step in saving money?.
Answer: Creating a budget or spending plan
●● What's our definition of being frugal?.
QUESTIONS AND ACCURATE ANSWERS
GRADED A+
●● Should you always try to contribute enough to your 401K to get the
employer match?.
Answer: Yes
●● Are community property laws established by the IRS or states?.
Answer: States
●● What is a notary public?.
Answer: A public officer constituted by law to witness the execution of
certain classes of documents like mortgage documents, wills, trusts,
deeds
●● What is a prenup agreement?.
Answer: A prenuptial agreement is entered into before marriage. This
agreement can set forth what will happen to your and your spouse's
assets and income in the unfortunate event of divorce, separation or
death.
●● By filing for bankruptcy, do you get rid of all of your debts?.
Answer: All debts EXCEPT taxes, alimony, child support, student loans
,●● Who said compound interest is the greatest discovery of mankind?.
Answer: Albert Einstein
●● Times of inflation, what happens to the interest rate? (up or down).
Answer: Higher interest rates
●● What's the definition of compound interest?.
Answer: Interest paid on both the principal and accumulated interest
●● Does it take a dollar of wages to pay back $1 of debt?.
Answer: No, it takes more than a dollar due to taxes
●● What is the concept of the time value of money?.
Answer: Money is worth different amounts at different times
●● What is the biggest reason to start saving ASAP?.
Answer: Compounding interest
●● As people get closer to retirement, how should they adjust their
portfolio?.
Answer: Adjust portfolio to be less risky, more bonds less stocks
, ●● What is APR? Is that higher than the annual interest rate?.
Answer: Annual Percentage Rate, higher than the interest rate because
APR includes fees
●● According to the nightingale survey, What % of the people who
people who start working at 25 become financial independence by 65?.
Answer: 5%
●● What types of accounts does the FDIC insure up to $250,000.
Answer: CD, checking accounts, savings accounts, IRA (Individual
Retirement Accounts) and certain other retirement and trust accounts
●● Everytime you get a paycheck, our goal is to save what percent?.
Answer: 15% of total income
●● The RULE OF FRED!!!!!!!!!!!!.
Answer: I GET PAID FIRST
●● What's the first step in saving money?.
Answer: Creating a budget or spending plan
●● What's our definition of being frugal?.
