GEB 3006- Exam 3 final UCF With
Guaranteed Pass Solutions 2026
Updated.
What is the best description of recent house price trends in Florida? - Answer Single family
home sales have increased since 2008, but during the last year the moving average flattened
out before resuming its climb.
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
and health plans
Assume you have a 401-K plan and that your employer requires you to stay five years to "vest"
in the plan. If you leave the company in three years then, - Answer You will lose the amount
your employer contributed to the plan plus the earnings, but you will retain your contributions
and the earnings thereon
Which of the following health plans offers 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
Which of the following is TRUE?
-Flexible spending and health savings accounts are shown as reductions to your W-2 income,
and thus save federal taxes
-Unused flexible spending account balances may be carried forward to future years
-Health savings plan accounts can only be used for a PPO plan
-A health savings account must be used each year - Answer Flexible spending and health
savings accounts are shown as reductions to your W-2 income, and thus save federal taxes
After enrolling in your primary health insurance plan, which of the following is the next MOST
important insurance that all employees should sign up for during open enrollment? - Answer
Disability insurance
Assume the following:
,Gross salary = $120,000
Employee contributions to 401-K = $12,000
Employer match to 401-K = $5,000
Flexible spending account savings = $2,000
Health insurance premiums paid by employee = $3,000
Health insurance paid directly by employer = $8,000
What is the W-2 taxable income? - Answer $103,000
An employer offers a 401-K plan under the following terms:
Employer will match 80% of all contributions up to 6%.
If an employee saves 10% of his/her salary, then the employer will match ___ of their salary. -
Answer 4.8%
Employees without a pension plan should try to save at least _____ of their salary (including
employer 401-K plan matches) throughout their working careers. - 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
Assume you receive a tax free parking benefit worth $1,000/year. What is the pretax equivalent
of this benefit for individuals in a 15% marginal tax bracket? - Answer $1,176
Assume you receive a taxable car allowance worth $1,000/year. What is the after tax equivalent
of this benefit for individuals in a 25% marginal tax bracket? - Answer $750
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
, Assume you are in a 35% marginal tax bracket.
If you saved $2,000 in your flexible savings account, you will save ___ in taxes. - Answer 700
Which of the following statements is TRUE?
-If you are self employed, you will need to pay both the employee and employer share of your
social security and medicare tax
-Employee contributions to social security are matched by their employer
-The Social Security or FICA tax is 6.2% and the maximum amount of earnings subject to Social
Security tax is $128,400 in 2018
-All W-2 earnings are subject to the 1.45% Medicare tax.
-All of above - Answer All of the above
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 of the following statements is FALSE?
-If you lose your job due to a layoff, you will be eligible for state unemployment benefits
-Typically companies will offer severance benefits when there is a downsizing
-If you are offered a chance to "resign" instead of being fired, then this might look better on
your resume.
-If you accepted a chance to "resign" instead of being fired, then you are still eligible for state
unemployment benefits. - Answer If you accepted a chance to "resign" instead of being
fired, then you are still eligible for state unemployment benefits.
It is always a good idea to purchase disability insurance if offered by your employer. - Answer
True
If you resign from a job, you will not be entitled to unemployment compensation. - Answer
True
Which health plan has a low cost but high deductible? - Answer HDHP
Unused savings in a Health savings accounts (HSA) can be carried forward to future years.
Unused savings can be invested and HSAs can only be used for PPO plans. - Answer False
Guaranteed Pass Solutions 2026
Updated.
What is the best description of recent house price trends in Florida? - Answer Single family
home sales have increased since 2008, but during the last year the moving average flattened
out before resuming its climb.
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
and health plans
Assume you have a 401-K plan and that your employer requires you to stay five years to "vest"
in the plan. If you leave the company in three years then, - Answer You will lose the amount
your employer contributed to the plan plus the earnings, but you will retain your contributions
and the earnings thereon
Which of the following health plans offers 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
Which of the following is TRUE?
-Flexible spending and health savings accounts are shown as reductions to your W-2 income,
and thus save federal taxes
-Unused flexible spending account balances may be carried forward to future years
-Health savings plan accounts can only be used for a PPO plan
-A health savings account must be used each year - Answer Flexible spending and health
savings accounts are shown as reductions to your W-2 income, and thus save federal taxes
After enrolling in your primary health insurance plan, which of the following is the next MOST
important insurance that all employees should sign up for during open enrollment? - Answer
Disability insurance
Assume the following:
,Gross salary = $120,000
Employee contributions to 401-K = $12,000
Employer match to 401-K = $5,000
Flexible spending account savings = $2,000
Health insurance premiums paid by employee = $3,000
Health insurance paid directly by employer = $8,000
What is the W-2 taxable income? - Answer $103,000
An employer offers a 401-K plan under the following terms:
Employer will match 80% of all contributions up to 6%.
If an employee saves 10% of his/her salary, then the employer will match ___ of their salary. -
Answer 4.8%
Employees without a pension plan should try to save at least _____ of their salary (including
employer 401-K plan matches) throughout their working careers. - 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
Assume you receive a tax free parking benefit worth $1,000/year. What is the pretax equivalent
of this benefit for individuals in a 15% marginal tax bracket? - Answer $1,176
Assume you receive a taxable car allowance worth $1,000/year. What is the after tax equivalent
of this benefit for individuals in a 25% marginal tax bracket? - Answer $750
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
, Assume you are in a 35% marginal tax bracket.
If you saved $2,000 in your flexible savings account, you will save ___ in taxes. - Answer 700
Which of the following statements is TRUE?
-If you are self employed, you will need to pay both the employee and employer share of your
social security and medicare tax
-Employee contributions to social security are matched by their employer
-The Social Security or FICA tax is 6.2% and the maximum amount of earnings subject to Social
Security tax is $128,400 in 2018
-All W-2 earnings are subject to the 1.45% Medicare tax.
-All of above - Answer All of the above
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 of the following statements is FALSE?
-If you lose your job due to a layoff, you will be eligible for state unemployment benefits
-Typically companies will offer severance benefits when there is a downsizing
-If you are offered a chance to "resign" instead of being fired, then this might look better on
your resume.
-If you accepted a chance to "resign" instead of being fired, then you are still eligible for state
unemployment benefits. - Answer If you accepted a chance to "resign" instead of being
fired, then you are still eligible for state unemployment benefits.
It is always a good idea to purchase disability insurance if offered by your employer. - Answer
True
If you resign from a job, you will not be entitled to unemployment compensation. - Answer
True
Which health plan has a low cost but high deductible? - Answer HDHP
Unused savings in a Health savings accounts (HSA) can be carried forward to future years.
Unused savings can be invested and HSAs can only be used for PPO plans. - Answer False
