FHCE 3200 Exam 3 Quiz Questions & Answers/ Rated A+| Questions with 100% Correct Answers | Verified | Latest Update.

FHCE 3200 E xam 3 Quiz Questions & Answers/ Rated A+ b. FALSE - ✅✅ -TRUE or FALSE: A Roth IRA qualifies for the IRA tax deduction found on the 1040 tax form. a. TRUE b. FALSE a. Universal Transfer to Minors Act - ✅✅ -Erin, a good friend of yours, would like to transfer a boat she inherited to her nephew who is 9 years of age. She heard that there is a way to go about doing this but is unsure. What type of custodial account will she need? a. Universal Transfer to Minors Act b. Universal Bequest to Minors Act c. Universal Gift to Minors Act d. Universal Tax Advantaged Trust for Minors a. Real - ✅✅ -The ___________ rate of return is calculated by subtracting the rate of inflation from the expected annual percentage yield from an investment. a. Real b. Nominal c. Accurate d. Adjusted b. FALSE - ✅✅ -TRUE or FALSE: Subjective risk can be measured using probabilities. a. TRUE b. FALSE c. High - ✅✅ -Commodities, collectibles, and speculative investments are categorized _______ risk and return. a. Medium b. Average c. High d. Low b. Pure - ✅✅ -An emergency fund is used to cover __________ risk. a. Unexpected b. Pure c. Unavoidable d. Possi ble b. FALSE - ✅✅ -TRUE or FALSE: A household's emergency fund ratio is calculated by dividing long -term assets by monthly living expenses. a. TRUE b. FALSE a. Hospital stays - ✅✅ -Which of the following options represents the most common emergency related expense? a. Hospital stays b. Unexpected Job loss c. Car repair d. Toothache c. Opportunity - ✅✅ -When a person is considering the benefits of two options, he or she is weighing the ______________ cost of their decision. a. Potential b. Probable c. Opportunity