Personal finance (Acellus)

A child tax text credit deduction would show up on which form

1040

When your finances get more complicated what must be filed

1040EZ is not the best option

Most single people use what tax form to file federal income tax

1040ez

Which of the following tax forms is used by companies to report funds paid to an independent contractor for one single job

1099

FC

24 600 .02

The majority of people in the United States fall into what individual tax bracket

25%

Fc

330 .01 11,000

FC P

750 5,000 5%

What is a person tax bracket based on

A person income

What determines if a person will receive a tax return

A person income and the amount of taxes they have already paid

When compared to a federal return which of the following is true about a state tax return

A state return is less complex than a federal

Which of the following best describes the concept of APR

APR is the percent of interest you're going to pay

The truth in lending acts applies to what

All loans

What should you do if you choose to have credit card

Always pay the full amount on time

The money it cost to borrow money is called what

Annual percent rate

If you put part of your income into 401k and have it taken directly from your paycheck each month that money is removed in what way

Before taxes

Which will be the best choice of financial institutions have your money invested in the stock market

Brokerage firm

Which Financial institution would be most likely to invest a persons money in the stock market

Brokerage firms

Which group of banks would be the least likely to work with individuals to give them an auto loan

Brokerage firms and commercial banks

Which kind of insurance has investment account extra account

Cash value

Which of the following agencies are in charge taking local income tax

City government

If you are looking for a larger less personal bank that handles business and corporations instead of individual accounts you would need to choose which of the following

Commercial bank

Which bank is the largest in size as well also handling the business of large corporations

Commercial banks

In which type of bank do you need to be a member who is allowed to join via application

Credit union

What kind of insurance pays your house mortgage if you are injured

Disability

Which of the following is a correct way to file a federal tax return

Electronically online

A 1040 form can only be used on which kind of return

Federal

Why do people itemize on their tax return

Federal

Federal tax dollars Help paid for all of the following is out which one

Federal employees

Which health benefit has people add money ahead of time to be used only for healthcare is expenses

HSA

What is the best idea when you are filing out of Tax forms for the very first time

Have someone who experience check your refunds before you file

What does an annual percentage rate help the borrower know

How much a bank will charge in interest each year

What is it important to find out before you apply for credit card

If the company charges a fee

How can health care cost impact a persons tax return

It can be used as tax deduction

Which of the following is true regarding the credit limit on a credit card

It is decided by the bank that issues the card

When does a person find out their credit limit

It is known to them as soon as the card is received

Which beat described an annual percentage rate

It is the money it cost to borrow money

Which of the following bets describes what a tax bracket is

It is the percentage each person will pay

What is APR

It's the percentage you pay on loan

Which of the following is filed in the city or town you live in only

Local tax forms

When does apr not apply

Money from a family membe r

What is true about most credit cards today

Must no longer charge annual fees

Which of the following is true about apr

Occurs when money is borrowed from the bank

To encourage a person to transfer other loans to their card a credit card company may do what

Offer a 0% APR for a short time

Which kind of insurance covers "out of network" health care

PPO

Which of these can help to lower the interest of a mortgage loan

Points purchased

When you walk into a bank and go up to a loan officer to apply for a home mortgage you are in what type of institution

Savings and loans bank

Which types of bags are you most likely to find your local neighborhoods

Savings and loans bank

What often determine the type of federal tax form you need to complete

Size of family

Which of the following would be a reason credit card companies give a high credit limit

So they will charge more than what they can afford meaning they must pay high finance charges

Which of the following will not fall under a deductible item on a tax return

Social security payments

What time of the year does tax day start

Spring

What kind of life insurance must be renewed upon the completion of the policy.

Term

What determines how much state tax you have will wind up paying

The actual state you live in

After submitting your income your tax form will ask you to provide what piece of information

The amount of money you paid in taxes the past year

Which of the following best describes the concept of a grace period

The amount of time the bank allows before they charge interest

Which of the following is considered a point on a home mortgage

The amount paid in advance of the loan in order to lose interest rate

Most banks will not allow you to charge more then your credit limit. However, if bank allows an overdraft to occur, what will also happen?

The bank will charge you a fee

What happens if you still have a balance on your credit card after the company starts charging you interest

The bank will make money from the interest rates you pay

If you try to charge more than is allowed on your credit card, what will bank company do?

The charge will be declined

What must be true in order for a family to receive a child tax credit

The children must be a certain age and live with the family

Which of the following is the best way to think about high credit limits

The limit is a safety net you have to use for an emergency

When people retire and access their 401kb investments what happens to the taxes on that money

The money is taken out before you are taxes on it

The more a person carries over a credit card balance from month to month without paying it off

The more money the bank will make in interest fees

What is true if a credit card charges no interest for the first year

The only money you owe the first year is the money you spent

When you qualify for social security payment who is paying the money your receive

The people who work right now pay social security

All of the following are true for those who are not responsible with credit except which one

They charge fewer items

What is normally the case if credit card company charges an annual fee

They charge you a larger fee for the year

Which of the following is true of savings and loan banks

They focus on individuals and families

What does a credit card company hope happens during the 12 months they offer 0% interest

They hope you charge a balance you can't pay off

Credit card companies that offer a perk usually do so with what in mind

They plan to charge an annual fee

How does the government help to protect money we put into banks

They put law ins place restricting what banks can do and how much they can loan

The 30 years would be considered what part of the loan

Time

What is the purpose of the 1099 MISC form

To show additionally income you earned from a contracted job

Which of the following best describes the concept of tax planning

Using your money in ways to lower your amount of taxes your going to pay

When will a higher limit help your credit score

When you have credit you are not using

Property mortgage insurance is an insurance cost the bank charges if which of the following circumstances is true

You are borrowing over 80% of the worth of your home

Anytime you gain income from being paid for a job in cash money what is true about filling your taxes

You don't need to file tax forms from cash money

What is a benefit if you file your tax return electronically

You save money sine there is a extra charge to send it by mail

If your money is invested into a retirement plan how you are allowed to subtract the invested amount

You should subtract the amount before taxes

If you own a home you may qualify for deduction if which of the following is true

You update to energy efficient appliances such as a new furnace

What will occur if you pay your credit card each month

You will avoid having to pay interest fees

The general rule when it comes to your tax bracket is what will happen when you make more money

You will have a higher percent in taxes

FDIC (Federal Deposit Insurance Corporation)

an agency developed by the federal government to regulate banking and and investment activivties