Exam 18: Appendix :personal-Finance-Appendix

Frank bought furniture worth $5,230 for his new house and used his credit card to make the payment. However, because of financial constraints, he was unable to clear the outstanding amount within the bank's stipulated time. This resulted in the bank charging Frank an additional $27 This additional amount that Frank needs to pay to the bank is referred to as the _____.

The Credit Card Accountability, Responsibility and Disclosure Act of 2009 allows credit card issuers to raise interest rates when a borrower is more than 45 days late in making required payments.

In 2010, the _____ issued a ruling that makes it more difficult for profit-seeking firms to offer unpaid or low-wage internships.

A disadvantage of using a credit card is that:

Genelia holds shares in a motorcycle manufacturing company. Genelia gets a stated amount of dividend from the company only if the board of directors declares it. In this case, Genelia is a(n) _____.

In the context of credit cards, the period of time that you have to pay your balance before interest or fees are assessed is referred to as the evaluation period.

A(n) _____ provides tax benefits to people who are investing for their retirement.

Jamie is 19 years old and wants to apply for a credit card in the same bank where he is an account holder. In the context of the Credit Card Accountability, Responsibility and Disclosure Act of 2009, Jamie must:

A budget starts with a forecast of your investments.

Explain the new laws and regulations that have had a significant impact on credit card practices.

With the use of credit cards, _____.

Drew is a common stockholder in a corporation. She paid $7,600 to purchase the stock of the company. However, the price of the stock goes down by $300 in the market soon after she makes the purchase. In this case, Drew will experience _____.

Christopher is a music teacher at St. Lucius School, an educational institution run by a charitable trust. Based on the nature of his organization, Christopher is eligible for the _____ employee-contribution retirement plan.

Gracie has retired after serving 40 years as a teacher. She wants to supplement her retirement savings by investing in some form of low-risk financial instrument. She, however, is particular about investing in bonds where the interest income earned would be exempted from federal income taxes. In this scenario, Gracie should invest in _____.

Discount brokers offer a wide range of additional services to their clients free of cost.

Lucy has been constantly overstepping the credit limit on her credit card for the past five months. In this case, Lucy's financial advisor will most likely advise her to:

In the context of investments, the board of directors of a corporation is legally obliged to declare dividends.

In the context of spending habits, _____ are expenditures for which the spender has significant control in terms of the amount and timing.

Roderick has made an investment in a credit union for a fixed term of four years. He receives a high interest rate on it. However, because of unexpected financial difficulties, Roderick is forced to cash in before the investment reaches its maturity and ends up incurring a heavy penalty. In the context of financial securities, Roderick has most likely invested in:

Which of the following expense tracking tools forces you to assign a spending or savings category for every dollar that goes in and out of your hands?