GEB 3006 FINAL Exam Questions with
All Actual Answers.
Employer benefits can be worth up to ___ of your base salary - Answer 50%
Generally, the two main employer benefits with the highest value are: - Answer Retirement
Health Plans
The health plans that offer the most choice in doctors and has the highest cost - Answer PPO
Which of the following health plans generally requires that you first see your primary care
physician and remain within a restricted network of doctors? - Answer HMO
Employees without a pension plan should try to save at least _____ of their salary - Answer
10-15%
Fidelity Investments recommends that individuals without pensions have about ___ times their
salary at age 67 in order to have a sufficient amount of money to retire.` - Answer 10
Fidelity Investments recommends that individuals without pensions have about ___ times their
salary at age 30 in order to have a sufficient amount of money to retire. - Answer 1
At what age will you become eligible for Medicare? - Answer 65
At what age are you eligible for early Social Security? - Answer 62 and the amount received
is a discounted benefit compared to the full retirement benefit
Which health plan has a low cost but high deductible? - Answer HDHP
The rules for flexible spending accounts generally require that employees use the money within
- Answer the current year or lose unused savings.
When you leave your job, you should always rollover your - Answer 401-K assets to a self
directed rollover IRA.
Between 1990 and 2010, the average US savings rate was around - Answer 5%
, What two factors count for 65% of your FICO score? - Answer Payment history and
outstanding debts
Which company has developed the MOST commonly used credit score to evaluate an
individual's credit? - Answer Fair Isaac Corporation
You should try to achieve a FICO score of at least - Answer 760
debt to credit limit ratio - Answer total balance due / credit limit
canceling an old credit card with no balance due - Answer could hurt your credit score
The treasury yield curve is normally - Answer upward sloping, with long term rates being
higher than short term rates.
Having mortgage debt is generally considered better than - Answer having credit card debt.
It is legal for an employer to review your credit report as part of - Answer the application
process.
In general, applying for and receiving new credit cards will tend to - Answer decrease your
FICO score.
Assume that your parents have more liabilities than assets as a result of a $100,000 of credit
card debt. In the event of their death, the children will - Answer NOT inherit the credit card
debt.
Interest rates on 30 year fixed rate mortgages tend to follow or correlate with: - Answer The
10 year treasury note rate
Interest rates paid by corporations and individual are normally derived from the current: -
Answer The treasury yield curve
At a given interest rate, extending the term of your auto loan from 36 months to 60 months will:
- Answer Decrease your payment and increase the amount of interest paid over the loan
All Actual Answers.
Employer benefits can be worth up to ___ of your base salary - Answer 50%
Generally, the two main employer benefits with the highest value are: - Answer Retirement
Health Plans
The health plans that offer the most choice in doctors and has the highest cost - Answer PPO
Which of the following health plans generally requires that you first see your primary care
physician and remain within a restricted network of doctors? - Answer HMO
Employees without a pension plan should try to save at least _____ of their salary - Answer
10-15%
Fidelity Investments recommends that individuals without pensions have about ___ times their
salary at age 67 in order to have a sufficient amount of money to retire.` - Answer 10
Fidelity Investments recommends that individuals without pensions have about ___ times their
salary at age 30 in order to have a sufficient amount of money to retire. - Answer 1
At what age will you become eligible for Medicare? - Answer 65
At what age are you eligible for early Social Security? - Answer 62 and the amount received
is a discounted benefit compared to the full retirement benefit
Which health plan has a low cost but high deductible? - Answer HDHP
The rules for flexible spending accounts generally require that employees use the money within
- Answer the current year or lose unused savings.
When you leave your job, you should always rollover your - Answer 401-K assets to a self
directed rollover IRA.
Between 1990 and 2010, the average US savings rate was around - Answer 5%
, What two factors count for 65% of your FICO score? - Answer Payment history and
outstanding debts
Which company has developed the MOST commonly used credit score to evaluate an
individual's credit? - Answer Fair Isaac Corporation
You should try to achieve a FICO score of at least - Answer 760
debt to credit limit ratio - Answer total balance due / credit limit
canceling an old credit card with no balance due - Answer could hurt your credit score
The treasury yield curve is normally - Answer upward sloping, with long term rates being
higher than short term rates.
Having mortgage debt is generally considered better than - Answer having credit card debt.
It is legal for an employer to review your credit report as part of - Answer the application
process.
In general, applying for and receiving new credit cards will tend to - Answer decrease your
FICO score.
Assume that your parents have more liabilities than assets as a result of a $100,000 of credit
card debt. In the event of their death, the children will - Answer NOT inherit the credit card
debt.
Interest rates on 30 year fixed rate mortgages tend to follow or correlate with: - Answer The
10 year treasury note rate
Interest rates paid by corporations and individual are normally derived from the current: -
Answer The treasury yield curve
At a given interest rate, extending the term of your auto loan from 36 months to 60 months will:
- Answer Decrease your payment and increase the amount of interest paid over the loan
