CFP Practice Questions with correct answers

Stafford Loans are administered by: A) Private Loan Administration B) Federal Family Education Loan Program C) Parent loans to undergraduate students D) Federal assistance loan program CORRECT ANSWER B Perkins loans CORRECT ANSWER Low-interest federal student loans for undergraduate and graduate students distributed on the basis financial need. Are Parent Loans to Undergraduate Students (PLUS) available to both full and part time students? CORRECT ANSWER No, only available to full time students Perfect elasticity results in a ______ demand curve, perfect inelasticity results in a _____ demand curve A) vertical, horizontal B) horizontal, vertical C) Diagonal, horizontal D) Vertical, diagonal CORRECT ANSWER B, Horizontal, vertical Money in a coverdell savings account must be used by the time beneficiary is ____years of age CORRECT ANSWER 30 A Change in quantity supplied