TSA FINAL UPDATED Actual Exam
Questions and CORRECT Answers
What deduction is typically NOT included in determining net pay from a paycheck?
a) Federal income tax
b) Social Security tax
c) Employer contributions to retirement accounts
d) Health insurance premiums - CORRECT ANSWER✔✔- D) health insurance premiums
What is "take home pay" after all deductions are subtracted from a paycheck? - CORRECT
ANSWER✔✔- Net pay
Financial services play a crucial role in an economy by - CORRECT ANSWER✔✔-
facilitating transactions, allocating capital, and managing risks
An independent insurance agent typically - CORRECT ANSWER✔✔- sells insurance
policies from multiple insurance companies
The Rule of 72 says... - CORRECT ANSWER✔✔- estimates how long it will take for an
investment to double
The primary purpose of insurance is to - CORRECT ANSWER✔✔- Reduce financial
uncertainty and make accidental loss manageable
Money market accounts offer:
a) High interest rates and easy access to funds
b) Fixed interest rates for a specific term
c) Limited withdrawals and higher interest rates than savings accounts
d) No interest but unlimited withdrawals - CORRECT ANSWER✔✔- C) limited
withdrawals and higher interest rates than savings accounts
, Small businesses contribute to the economy by - CORRECT ANSWER✔✔- Creating jobs,
driving innovation, and supporting local communities
An unsecured credit card does NOT require:
a) Collateral to secure the credit line
b) A credit check
c) Monthly payments
d) A minimum income threshold - CORRECT ANSWER✔✔- A) collateral to secure the
credit
The primary role of Equifax, TransUnion, and Experian is to: - CORRECT ANSWER✔✔-
Assess credit risks for lenders (CREDIT REPORTING AGENCIES)
When formatting communications, it's essential to consider - CORRECT ANSWER✔✔-
Tailoring the message to suit the audience and purpose
What is one reason for investing? - CORRECT ANSWER✔✔- Building wealth
What does CRM stand for in the context of editing a database
a) Customer Relationship Management
b) Centralized Resource Management
c) Comprehensive Reporting Metrics
d) Corporate Revenue Model - CORRECT ANSWER✔✔- A) Customer Relationship
Management
Which of the following is considered a fixed-income security?
a) Stocks
b) Bonds
c) Commodities
d) Cash - CORRECT ANSWER✔✔- B) Bond
Questions and CORRECT Answers
What deduction is typically NOT included in determining net pay from a paycheck?
a) Federal income tax
b) Social Security tax
c) Employer contributions to retirement accounts
d) Health insurance premiums - CORRECT ANSWER✔✔- D) health insurance premiums
What is "take home pay" after all deductions are subtracted from a paycheck? - CORRECT
ANSWER✔✔- Net pay
Financial services play a crucial role in an economy by - CORRECT ANSWER✔✔-
facilitating transactions, allocating capital, and managing risks
An independent insurance agent typically - CORRECT ANSWER✔✔- sells insurance
policies from multiple insurance companies
The Rule of 72 says... - CORRECT ANSWER✔✔- estimates how long it will take for an
investment to double
The primary purpose of insurance is to - CORRECT ANSWER✔✔- Reduce financial
uncertainty and make accidental loss manageable
Money market accounts offer:
a) High interest rates and easy access to funds
b) Fixed interest rates for a specific term
c) Limited withdrawals and higher interest rates than savings accounts
d) No interest but unlimited withdrawals - CORRECT ANSWER✔✔- C) limited
withdrawals and higher interest rates than savings accounts
, Small businesses contribute to the economy by - CORRECT ANSWER✔✔- Creating jobs,
driving innovation, and supporting local communities
An unsecured credit card does NOT require:
a) Collateral to secure the credit line
b) A credit check
c) Monthly payments
d) A minimum income threshold - CORRECT ANSWER✔✔- A) collateral to secure the
credit
The primary role of Equifax, TransUnion, and Experian is to: - CORRECT ANSWER✔✔-
Assess credit risks for lenders (CREDIT REPORTING AGENCIES)
When formatting communications, it's essential to consider - CORRECT ANSWER✔✔-
Tailoring the message to suit the audience and purpose
What is one reason for investing? - CORRECT ANSWER✔✔- Building wealth
What does CRM stand for in the context of editing a database
a) Customer Relationship Management
b) Centralized Resource Management
c) Comprehensive Reporting Metrics
d) Corporate Revenue Model - CORRECT ANSWER✔✔- A) Customer Relationship
Management
Which of the following is considered a fixed-income security?
a) Stocks
b) Bonds
c) Commodities
d) Cash - CORRECT ANSWER✔✔- B) Bond
