GEB 3006 UCF Final Exam Final UPDATED
Questions and CORRECT Answers
Employer benefits can be worth up to ___ of your base salary - ✔✔50%
Generally the two main employer benefits with the highest value are: - ✔✔Retirement Health
Plans
The health plans that offers the most choice in doctors and has the highest cost - ✔✔PPO
Which of the following health plans generally requires that you first see your primary care
physician and remain within a restricted network of doctors? - ✔✔HMO
Employees without a pension plan should try to save at least _____ of their salary - ✔✔10-15%
Fidelity Investments recommends that individuals without pensions have about ___ times their
salary at age 67 in order to have a sufficient amount of money to retire.` - ✔✔10
Fidelity Investments recommends that individuals without pensions have about ___ times their
salary at age 30 in order to have a sufficient amount of money to retire. - ✔✔1
At what age will you become eligible for Medicare? - ✔✔65
At what age are you eligible for early Social Security? - ✔✔62 and the amount received is a
discounted benefit compared to the full retirement benefit
, Which health plan has a low cost but high deductible? - ✔✔HDHP
The rules for flexible spending accounts generally require that employees use the money within
- ✔✔the current year or lose unused savings.
When you leave your job, you should always rollover your - ✔✔401-K assets to a self directed
rollover IRA.
Between 1990 and 2010, the average US savings rate was around - ✔✔5%
What two factors count for 65% of your FICO score? - ✔✔Payment history and outstanding
debts
Which company has developed the MOST commonly used credit score to evaluate an
individual's credit? - ✔✔Fair Isaac Corporation
You should try to achieve a FICO score of at least - ✔✔760
debt to credit limit ratio - ✔✔total balance due / credit limit
canceling an old credit card with no balance due - ✔✔could hurt your credit score
The treasury yield curve is normally - ✔✔upward sloping, with long term rates being higher
than short term rates.
Having mortgage debt is generally considered better than - ✔✔having credit card debt.
Questions and CORRECT Answers
Employer benefits can be worth up to ___ of your base salary - ✔✔50%
Generally the two main employer benefits with the highest value are: - ✔✔Retirement Health
Plans
The health plans that offers the most choice in doctors and has the highest cost - ✔✔PPO
Which of the following health plans generally requires that you first see your primary care
physician and remain within a restricted network of doctors? - ✔✔HMO
Employees without a pension plan should try to save at least _____ of their salary - ✔✔10-15%
Fidelity Investments recommends that individuals without pensions have about ___ times their
salary at age 67 in order to have a sufficient amount of money to retire.` - ✔✔10
Fidelity Investments recommends that individuals without pensions have about ___ times their
salary at age 30 in order to have a sufficient amount of money to retire. - ✔✔1
At what age will you become eligible for Medicare? - ✔✔65
At what age are you eligible for early Social Security? - ✔✔62 and the amount received is a
discounted benefit compared to the full retirement benefit
, Which health plan has a low cost but high deductible? - ✔✔HDHP
The rules for flexible spending accounts generally require that employees use the money within
- ✔✔the current year or lose unused savings.
When you leave your job, you should always rollover your - ✔✔401-K assets to a self directed
rollover IRA.
Between 1990 and 2010, the average US savings rate was around - ✔✔5%
What two factors count for 65% of your FICO score? - ✔✔Payment history and outstanding
debts
Which company has developed the MOST commonly used credit score to evaluate an
individual's credit? - ✔✔Fair Isaac Corporation
You should try to achieve a FICO score of at least - ✔✔760
debt to credit limit ratio - ✔✔total balance due / credit limit
canceling an old credit card with no balance due - ✔✔could hurt your credit score
The treasury yield curve is normally - ✔✔upward sloping, with long term rates being higher
than short term rates.
Having mortgage debt is generally considered better than - ✔✔having credit card debt.
