1
FINANCIAL PLANNING NAF EOC
QUESTIONS AND ANSWERS | GRADED A+ |
NEW
account executive - Correct Answer-An employee who is
responsible for managing a number of accounts as well as
developing new accounts for the firm
actuarial table - Correct Answer-A table that show the
probability that a person will die before their next birthday,
used to calculate insurance rates
actuary - Correct Answer-A mathematician who calculates the
likelihood of events and prices insurance based on that
adjustable rate mortgage (ARM) - Correct Answer-A type of
loan whose interest rate goes up and down depending on the
base rate to which it is tied
advance medical directive - Correct Answer-Written
instructions that describe treatment preferences, including the
designation of a substitute decision maker in the event the
patient become unable to make medical decisions on their
own behalf
1
, 2
annual fee - Correct Answer-A once yearly charge for having
a credit car. Cards with annual fees usually have lower interest
rates
annual percentage rate (APR) - Correct Answer-An expression
of the total cost of a loan to the borrower
annuity - Correct Answer-In an annuity, the insurer agrees to
pay the insured an identified sum of money periodically. The
purpose is to protect against as well as provide money in the
form of a pension at regular intervals
asset - Correct Answer-Anything an individual owns that has
commercial or exchange value. This can include houses, cars,
computers, collectibles, stocks, binds, cash in the bank, and so
on
balance sheet - Correct Answer-A list of all of a person's
assets and liabilities at a specific point in time. Balance sheets
help one determine current net worth and should be updated at
least once a year
balance transfer - Correct Answer-A transfer of debt from one
credit card to another, usually for a fee
2
FINANCIAL PLANNING NAF EOC
QUESTIONS AND ANSWERS | GRADED A+ |
NEW
account executive - Correct Answer-An employee who is
responsible for managing a number of accounts as well as
developing new accounts for the firm
actuarial table - Correct Answer-A table that show the
probability that a person will die before their next birthday,
used to calculate insurance rates
actuary - Correct Answer-A mathematician who calculates the
likelihood of events and prices insurance based on that
adjustable rate mortgage (ARM) - Correct Answer-A type of
loan whose interest rate goes up and down depending on the
base rate to which it is tied
advance medical directive - Correct Answer-Written
instructions that describe treatment preferences, including the
designation of a substitute decision maker in the event the
patient become unable to make medical decisions on their
own behalf
1
, 2
annual fee - Correct Answer-A once yearly charge for having
a credit car. Cards with annual fees usually have lower interest
rates
annual percentage rate (APR) - Correct Answer-An expression
of the total cost of a loan to the borrower
annuity - Correct Answer-In an annuity, the insurer agrees to
pay the insured an identified sum of money periodically. The
purpose is to protect against as well as provide money in the
form of a pension at regular intervals
asset - Correct Answer-Anything an individual owns that has
commercial or exchange value. This can include houses, cars,
computers, collectibles, stocks, binds, cash in the bank, and so
on
balance sheet - Correct Answer-A list of all of a person's
assets and liabilities at a specific point in time. Balance sheets
help one determine current net worth and should be updated at
least once a year
balance transfer - Correct Answer-A transfer of debt from one
credit card to another, usually for a fee
2
