PHLEBOTOMY PRACTICE TEST 2023 WITH COMPLETE SOLUTION

PHLEBOTOMY PRACTICE TEST 2023 WITH COMPLETE PERSONAL FINANCE FINAL EXAM 2023 LATEST UPDATE QUESTIONS AND ANSWERS This study source was downloaded by from CourseH on :56:48 GMT -06:00 Gross - answer income is the amount of money you earn. net income - answerthe amount you have left after taxes and other expenses are taken out of your paycheck. Form W-4 - answerWhat form is used to calculate how much income tax is withheld from your pay? Benjamin Franklin - answerIn 1789, who coined the phrase "In this world nothing can be said to be certain, except death and taxes?" Tax Day - answerApril 15 of every year, the usual deadline to file your taxes, is called what? withholdings - answerthe portion of an employee's pay held back to cover taxes and other deductions fiscal year - answerA one year period that governments or companies use for financial reporting tax bracket - answerthe income ranges in which tax rates apply audit - answerThe IRS may conduct an of a person tax return to check accuracy of the figures. federal income return - answerEvery American who earns an income must file what each year? False - answerTrue/False: This study source was downloaded by from CourseH on :56:48 GMT -06:00 The total amount of debt a country owes to companies and other countries as a result of deficit spending is called Debt Count. goods - answerSales tax is a tax on and services that goes to a state or local government. minimum - answerThe smallest amount that employers can legally pay their employee is called wage. expenses - answerWithholdings and deductions are that are taken out of your paycheck. False - answerTrue/False: A fixed annual amount earned by an employee, typically paid weekly, biweekly, or monthly is called a contract. wages - answerThe money you earn hourly for your time and effort at work is called your . passive income - answermoney earned on a regular basis with little or no effort required to maintain it portfolio income - answerincome from an investment sold at a higher price than you paid for it paper - answerStocks, bonds, mutual funds and currency are examples of asset. False - answerTrue/False: If you work hard, earn money, and you're a nice person, you will not have to pay taxes. True - answerTrue/False: This study source was downloaded by from CourseH on :56:48 GMT -06:00 Being liable for your personal or business taxes is called Tax Liability. tax credit - answerthe amount of money a taxpayer can subtract from the taxes they owe True - answerTrue/False: Giving to charity would qualify a person or business for a Tax Credit. property tax - answertaxes paid by anyone who owns property such as land, a home, or commercial real estate True - answerTrue/False: Gift Tax is a tax on any asset that exceeds the yearly amount you can transfer to another person without compensation of equal value. portfolio - answerA is also known as a collection of investments. retirement - answerA Qualified Retirement Savings Plan is an employer-sponsored plan that has special tax treatment. spread - answerIn investing "diversification" means to your investment types throughout your portfolio. bear - answerAn extended time of falling stock values is referred to as a market. True - answerTrue/False: The S&P 500 is one example of a stock market index. True - answerTrue/False: This study source was downloaded by from CourseH on :56:48 GMT -06:00 Owning stock means you own a small piece or pieces of a company. preparing a will - answerWhich is a major aspect of estate planning? dividend - answera payout of net profits from a company to shareholders ROI - answerrefers to the monetary gain or loss of an investment over time charitable - answerGiving your money, time, or property to an organization that helps other people who are in need is called giving. risk - answerWhen it comes to picking investments, the higher the , the greater your chance of losing money. will - answerA is a legal document listing how a person wants their assets distributed after their death. 10-12 - answerYou should buy a life insurance policy that is how many times your annual salary? copays - answerWhat's the payment you make each time you visit the doctor? premimums - answerHDHP insurance with health savings account can save you money on what? 26 - answerYou can remain on your parent's health insurance plan until what age? disability - answerWhich insurance covers you if you're injured and can't work for a period of time? This study source was downloaded by from CourseH on :56:48 GMT -06:00 Renter's - answer insurance overs loss to your personal items but not a building. term life - answerYou can save money on life insurance by getting a life insurance plan. insurance - answerThe purpose of is to transfer financial risk. auto - answerCollision insurance is a type of coverage with insurance. claim - answerYou have to file a when you need assistance from your insurance company. dependent - answerA is someone (typically a child) who relies on you financially. deductible - answerYour is the amount you have to pay before the insurance pays. Homeowner's Insurance - answerprotection for losses to a private residence and the possessions within it, as well as liability coverage against accidents in the home or on property True - answerTrue/False: Insurance "grace periods" can be as short as 24 hours or as long as 30 days. Long-Term Warranty Insurance - answerWhat is not a part of the "Seven Types of Necessary Insurance Coverage?" False - answerTrue/False: Identity Theft Protection protects you from items stolen out of your car. This study source was downloaded by from CourseH on :56:48 GMT -06:00 False - answerTrue/False: Term life insurance is more expensive than Whole Life Insurance. diversification - answerthe practice of dividing the money a person invests among different types of investments in order to lower risk down payment - answerTypically, you'll want to have 10-20% as a if you want to buy a home. contract - answerAn apartment lease is a legal for a set period of time. True - answerTrue/False: Appreciation means that the value of a home you buy will continue to go up in value over time. equity - answerthe difference between what a house is worth and what is still owed on it mortgage principal - answerthe total amount still owed on a house leasing - answerAnother word used for "renting" is . mortgage - answerA loan obtained for a home purchase is a . False - answerTrue/False: The 'A' in the home loan option referred to as ARM stands for "actual". This study source was downloaded by from CourseH on :56:48 GMT -06:00 equity - answerWhat is not one of the 3 ingredients needed to build wealth for your future? investing - answerthe process of setting money aside to increase wealth over time for long-term financial goals such as retirement liquid asset - answeran asset that can be easily bought or sold stock market - answerA financial market that trades shares of ownership of public companies stock - answera security that represents part ownership or equity in a company True - answerTrue/False: Fixed-Rate Mortgage is a mortgage with a set interest rate for a set number of years. depreciation - answera reduction in the value of an asset with the passage of time, due in particular to wear and tear quaternary - answerWhich of the 4 sectors include education, the government, and scientific research? competition - answerWhat is not considered a factor of production? rationing - answerControlling the use of a product or service is known as . equilibrium - answerWhen consumer demand for a product is met by the available supply, the market has reached . peak - answerWhat term is used to describe when economic growth is at its highest point? This study source was downloaded by from CourseH on :56:48 GMT -06:00 GDP - answerThe total value of all the goods and services sold by a country is known as . tariff - answerA is an extra charge or tax on imported goods. choices - answerEconomics is a study of consumer . economic - answerEvery country has a unique system that includes its leadership, the way it makes decisions, and how the citizens buy things. SOLUTION