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AGEC 235 Exam 3 2026 Latest
Questions and Answers (100% Expert
Answers) A+
Top 3 characteristics MEN seek in a lifetime mate [ Ans: ] kindness,
physical attraction, humor
Top 3 characteristics WOMEN seek in a lifetime mate [ Ans: ] kindness,
good financial prospects, physical attraction
4 types of insurance discussed in class [ Ans: ] health, life, disability,
long-term care
A ___________________ plan costs less than a _________________ plan, but
also requires that you receive referrals from your Primary Care Physician
before seeing an in-network specialist. [ Ans: ] Health Maintenance
Organization (HMO)
© 2026
Preferred Provider Organization (PPO)
Earnings Multiple [ Ans: ] purchasing life insurance that covers 5 to 25
times your income.
Needs Approach [ Ans: ] purchasing life insurance to cover specific costs
(educational expenses, current debts, funeral expenses, etc).
Will [ Ans: ] Your wishes for your assets to be distributed upon your
death
Living Will [ Ans: ] Your wishes for life support & organ donation if
incapacitated
Financial Power of Attorney [ Ans: ] An agent oversees your finances if
you are incapable of doing so
, 2
Medical Power of Attorney [ Ans: ] An agent makes medical decisions if
you are incapable of doing so
Pros of home buying [ Ans: ] ownership, forced savings, tax free gain on
sale
Cons of home buying [ Ans: ] upfront costs, tied down, property taxes
P.I.T.I. [ Ans: ] principal, interest, taxes, insurance
A mortgage lender would prefer a down payment of ____% of the price of
the home, but would accept as low as ___% if approved for a Piggy Back
Loan, or even ____% if approved for a Federal Housing Authority (FHA)
Loan. Additional upfront costs include Closing Costs, which typically cost
___% to ___% of the cost of the house. [ Ans: ] 20
5
3.5
© 2026
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4
Mortgage Lenders prefer...PITI [ Ans: ] < 28% of Monthly Gross Income
Mortgage Lenders prefer...PITI + Other Large Debts [ Ans: ] < 36% of
Monthly Gross Income_
Escrow Account [ Ans: ] A reserve account in which funds are deposited,
generally on a monthly basis, and accumulate over time until they are
drawn out to pay for property taxes and insurance.
Periodic Cap [ Ans: ] The max that the interest rate can increase by
during each adjustment interval
AGEC 235 Exam 3 2026 Latest
Questions and Answers (100% Expert
Answers) A+
Top 3 characteristics MEN seek in a lifetime mate [ Ans: ] kindness,
physical attraction, humor
Top 3 characteristics WOMEN seek in a lifetime mate [ Ans: ] kindness,
good financial prospects, physical attraction
4 types of insurance discussed in class [ Ans: ] health, life, disability,
long-term care
A ___________________ plan costs less than a _________________ plan, but
also requires that you receive referrals from your Primary Care Physician
before seeing an in-network specialist. [ Ans: ] Health Maintenance
Organization (HMO)
© 2026
Preferred Provider Organization (PPO)
Earnings Multiple [ Ans: ] purchasing life insurance that covers 5 to 25
times your income.
Needs Approach [ Ans: ] purchasing life insurance to cover specific costs
(educational expenses, current debts, funeral expenses, etc).
Will [ Ans: ] Your wishes for your assets to be distributed upon your
death
Living Will [ Ans: ] Your wishes for life support & organ donation if
incapacitated
Financial Power of Attorney [ Ans: ] An agent oversees your finances if
you are incapable of doing so
, 2
Medical Power of Attorney [ Ans: ] An agent makes medical decisions if
you are incapable of doing so
Pros of home buying [ Ans: ] ownership, forced savings, tax free gain on
sale
Cons of home buying [ Ans: ] upfront costs, tied down, property taxes
P.I.T.I. [ Ans: ] principal, interest, taxes, insurance
A mortgage lender would prefer a down payment of ____% of the price of
the home, but would accept as low as ___% if approved for a Piggy Back
Loan, or even ____% if approved for a Federal Housing Authority (FHA)
Loan. Additional upfront costs include Closing Costs, which typically cost
___% to ___% of the cost of the house. [ Ans: ] 20
5
3.5
© 2026
2
4
Mortgage Lenders prefer...PITI [ Ans: ] < 28% of Monthly Gross Income
Mortgage Lenders prefer...PITI + Other Large Debts [ Ans: ] < 36% of
Monthly Gross Income_
Escrow Account [ Ans: ] A reserve account in which funds are deposited,
generally on a monthly basis, and accumulate over time until they are
drawn out to pay for property taxes and insurance.
Periodic Cap [ Ans: ] The max that the interest rate can increase by
during each adjustment interval
