AFC Exam Prep EXAM Questions with 100%
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Exam)
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Terms in this set (100)
Aaron Jefferies has purchase offer and purchase contract.
located a condominium he
would like to buy, and he
would like the current
owners to leave all
window coverings in the
condo. This condition
should be included in the
,Kim was injured in a freak $12,250
accident in her dorm room
and had to spend several
days in the hospital. Her
covered medical costs
totaled $14,000. How
much will Kim's health
insurance policy pay for
this claim given the
following policy
information?
$250 deductible per year
80/20 coinsurance
$1,500 per year out-of-
pocket coinsurance cap
Jeffrey invests $300 in his Dollar cost averaging
Roth IRA every month,
regardless of the market
conditions. What strategy
is Jeffrey utilizing?
What do credit bureaus They collect and provide credit information.
do?
Retirement investments pretax income.
can easily be made with
One can lower insurance avoiding coinsurance.
premiums by doing all of
the following EXCEPT
, Jax, who is 27 years old, Answer: $10,500
has always wanted a boat. Explanation: $30,000 x .25 = $7,500
He found one for $20,000 10% early withdrawal penalty: $3,000
and took money $30,000
out of his 401(k) to pay for
it. Assuming Jax is in the
25% tax bracket, how
much will Jax pay in taxes
on his withdrawal?
Which of the following is Reducing deductions
not a way of reducing
taxable income?
Your client brings in this $37 (look at the minimum payment warning in the
credit card statement. He bottom right)
knows paying the
minimum balance will take
many years to pay off.
How much does he need
to pay each month to pay
the card off in 3 years?
In which chapter of Chapter 7
bankruptcy does a trustee
examine assets to
determine what can be
sold for the benefit of
creditors?
Diana and Kim are Special endorsement
roommates in college and
Diana owes Kim for last
month's rent. When Diana
receives a check from her
mother for the rent, what
type of endorsement
should Diana use to sign
this check over to Kim?
Correct Answers | Verified | Updated (Actual
Exam)
Save
Terms in this set (100)
Aaron Jefferies has purchase offer and purchase contract.
located a condominium he
would like to buy, and he
would like the current
owners to leave all
window coverings in the
condo. This condition
should be included in the
,Kim was injured in a freak $12,250
accident in her dorm room
and had to spend several
days in the hospital. Her
covered medical costs
totaled $14,000. How
much will Kim's health
insurance policy pay for
this claim given the
following policy
information?
$250 deductible per year
80/20 coinsurance
$1,500 per year out-of-
pocket coinsurance cap
Jeffrey invests $300 in his Dollar cost averaging
Roth IRA every month,
regardless of the market
conditions. What strategy
is Jeffrey utilizing?
What do credit bureaus They collect and provide credit information.
do?
Retirement investments pretax income.
can easily be made with
One can lower insurance avoiding coinsurance.
premiums by doing all of
the following EXCEPT
, Jax, who is 27 years old, Answer: $10,500
has always wanted a boat. Explanation: $30,000 x .25 = $7,500
He found one for $20,000 10% early withdrawal penalty: $3,000
and took money $30,000
out of his 401(k) to pay for
it. Assuming Jax is in the
25% tax bracket, how
much will Jax pay in taxes
on his withdrawal?
Which of the following is Reducing deductions
not a way of reducing
taxable income?
Your client brings in this $37 (look at the minimum payment warning in the
credit card statement. He bottom right)
knows paying the
minimum balance will take
many years to pay off.
How much does he need
to pay each month to pay
the card off in 3 years?
In which chapter of Chapter 7
bankruptcy does a trustee
examine assets to
determine what can be
sold for the benefit of
creditors?
Diana and Kim are Special endorsement
roommates in college and
Diana owes Kim for last
month's rent. When Diana
receives a check from her
mother for the rent, what
type of endorsement
should Diana use to sign
this check over to Kim?
