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FINP 235 EXAM I QUESTIONS WITH COMPLETE ANSWERS

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FINP 235 EXAM I QUESTIONS WITH COMPLETE ANSWERS

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Steps in the financial planning process:


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1. Assess your wealth
2. Set financial goals
3. Budget Income and Expenses

,On personal checks, the bank will always go with the ______ amount.


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Written




Which IRS Form shows you the amount of Federal Income Tax Withheld from your
earnings from a specific employer in the previous year?


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W-2




Net Income is the difference between these two things:


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Income and expenses




What are all of the American solutions to financial stress address in the lecture?


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1. Inheritance 2. Suing someone 3. Marrying Into money 4. Lottery

, Similar to a Cashier's Check, but can be purchased at a U.S. Postal Office, gas station,
etc.


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Money Orders




What is the official name of the IRS Form your employer will use to determine how
much income to withhold from your paycheck each month for federal income taxes?


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Form W-4




What is SMART?


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- Specific
- Measurable
- Attainable
- Relevant
- Time




Banks pay their depositors ________.
Credit Unions pay their depositors _________.


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