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GEB 3006 Exam 3 final UCF
Questions and Answers Latest 2026
What is the best description of recent house price trends
in Florida?— Ans: 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.— Ans: 50%
Generally the two main employer benefits with the
highest value are:— Ans: 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,— Ans: 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?— Ans: 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?— Ans: HMO
Which of the following is TRUE?
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-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— Ans:
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?— Ans: 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
© 2025 All rights reserved
, 3 | Page
What is the W-2 taxable income?— Ans: $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.— Ans: 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.— Ans: 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.— Ans: 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?— Ans:
$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?—
Ans: $750
Fidelity Investments recommends that individuals
without pensions have about ___ times their salary at age
© 2025 All rights reserved
GEB 3006 Exam 3 final UCF
Questions and Answers Latest 2026
What is the best description of recent house price trends
in Florida?— Ans: 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.— Ans: 50%
Generally the two main employer benefits with the
highest value are:— Ans: 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,— Ans: 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?— Ans: 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?— Ans: HMO
Which of the following is TRUE?
© 2025 All rights reserved
, 2 | Page
-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— Ans:
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?— Ans: 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
© 2025 All rights reserved
, 3 | Page
What is the W-2 taxable income?— Ans: $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.— Ans: 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.— Ans: 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.— Ans: 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?— Ans:
$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?—
Ans: $750
Fidelity Investments recommends that individuals
without pensions have about ___ times their salary at age
© 2025 All rights reserved
