SHU PMC
A mobile phone application used to TAP for a cup of coffee at Starbucks establishes a legal contract.
False
A rainy day fund is used for unplanned splurge expenses like flying to Las Vegas for the weekend to see your favorite band play in concert.
False
A reasonable number of budget categories is 30 to 50.
False
Bank fees are always small and should be ignored when deciding on which institution to bank with.
False
Budgets are really only needed if you are poor.
False
Earning a PhD will lower my salary.
False
If my company fails to send me a W2 for the prior year I must wait past 4/15 before filing.
False
Increased maturity is correlated with recognition of luck vs skill efforts in a task.
False
My investment bank broker is a good financial buddy choice.
False
Once a W4 form is submitted to the federal government there is no need to complete a new one ever again, even upon changing employers.
False
SIPC and FDIC are both government insurance programs to protect individual investors just like individual bank depositors.
False
Since the government only expects 5% down payment that is all I need in cash to close.
False
The IRS uses the same regressive tax table for every person in the U.S.
False
The NRA, like the Red Cross, is tax deductible 501 C 3 charitable organization.
False
The Toil Index shows the average number of hours an average worker must work to rent an average house has stayed flat since 1950.
False
The house purchase closing meeting is simple with little paperwork to sign.
False
A typical SHU undergraduate can expect to live to 90.
True
According to Dr. Glasmeier the living-wage-calculator update for this past year reflects some city rents increasing between 6% and 30% in one year.
True
According to Dr. Glasmeier the living-wage-calculator update for this past year the average increase was between 4% and 6%.
True
According to the U.S. Census report the health uninsured rate decreased between 2015 and 2016.
True
According to the U.S. Census report the percentage of people covered by any type of health insurance in 2015 and 2016 remained over 90%.
True
According to the federal poverty guidelines, a two-person household with a total annual income below $16,910 is considered to be living in poverty.
True
An advisor is paid a fee, usually by you, to help you make a decision.
True
Because of their meager net wealth, most typical Gen X couples are on a course to see their income drop in half in retirement.
True
Behavioral economists study two emotional contributors to happiness, emotional wellbeing and quality of their life.
True
Behavioral finance teaches us we have asymmetric risk tolerance, with the pain of loss much greater than the joy of gains for the same amount of money.
True
Breach-of-Contract means when one party fails to perform his part of the agreement.
True
Budgets include both income and expenses.
True
Choosing to reinvest dividend payments during the life of the investment dramatically shortens the time to double our original investment.
True
College students are not considered to have the most financial knowledge regarding credit cards, yet credit card companies consider college students acceptable risks.
True
College students who own a car should have their own car insurance policy and be removed from their parent's insurance plan.
True
Completing a 4 year college education will increase your employment chances?
True
Daniel Kahneman and Angus Deaton of Princeton University found people's day-to-day emotional state rose with average annual income only until about $75,000 and then plateaued.
True
Depending on the amount of college debt you may take 20 years of working to catch up to your peer, with only a high school diploma, in life time earnings.
True
Doing a simple X and Y graph of data may show a visual trend or affirm a random distribution.
True
Establishing 10 year financial goals will match my earning capacity to my expense and savings priorities.
True
Finding a correlation between inequality in the US and imprisonment rates does not mean the cause of one is the other.
True
Finding a correlation between inequality in the US and infant mortality does not mean the cause of one is the other.
True
Finding a correlation between inequality in the US and obesity does not mean the cause of one is the other.
True
For college students, identity theft insurance is most likely a waste of money.
True
Greater income differences are associated with lower standards of population health, for all.
True
Groups such as Public Citizen argue that people are forced to waive their legal rights because arbitration clauses are presented in contracts on a take-it-or-leave-it basis.
True
Having no new credit card accounts for six months can boost your credit rating score 50 points.
True
I can skip federal income tax filing if my gross income was less than $12,200.
True
I can use Free File even if I file for an extension.
True
I need to know if my parents claimed me on their tax return form before I file my taxes.
True
If I am self-employed with earning of more than $2,100 then the IRS states I must file.
True
If offered, exercise any company retirement matching amount, because that is extra tax deferred income.
True
If working remotely at home is a possibility and something you have discussed, then the employment contract should reflect the option.
True
If you are covered by two health benefit plans it is best to drop out of one as you may not submit the same claim to both companies.
True
In 2019, 17 states have a minimum wage higher than the $8.13 an hour required to clear the federal guidelines definition of poverty.
True
Indirect giving means helping people using an established giving organization.
True
Insurance companies and HMO's usually negotiate a 50% discount for hospital services.
True
Insurance companies make very large profits and assume very large risk.
True
Insurance companies write policies and insurance brokers sell policies.
True
Insurance costs for a four-door family-style sedan are generally priced lower than insurance for a high performance vehicle like a Mustang, Camaro, or Infiniti G35.
True
Insurance riders, just like a horseman riding a horse, require a starting base insurance contract to ride on, or be added to.
True
Investing decisions provide a clear measurement of your decision making skills.
True
Keeping score of your wealth is done with a balance sheet.
True
Legal advice may be all you need in the case of a dispute which is not the same as hiring a lawyer for representation.
True
On average the rich in America give 4% of their income to charity.
True
Once I assemble all of my paper records I should be able to file in less than 2 hours.
True
Pay-Back is a skill representing the ability to manage available credit and cash into and out of debt.
True
Pew Research Center found Boomers and Millennials are more confident about being able to collect enough wealth to retire than Gen Xers.
True
Preventive dental care, like regular cleanings twice per year, saves money in the long run.
True
Probability is the tool of the gambler and does not guarantee success only indicates likelihood.
True
Purchasing the extended warranty for my pre-owned car from the dealer is usually a wise option if the car is not certified.
True
Since 2011, the federal government has required all schools to provide something called a net price calculator on their websites
True
Since 2011, the federal government has required all schools to provide something called a net price calculator on their websites.
True
Sometimes the monthly cash flow to maintain a car can break my budget even though the purchase price was a great deal.
True
Ted Cruz quote: The top 1 percent earn a higher share of our national income than any year since 1928.
True
The #1 challenge to using a budget is to keep doing it and not stop.
True
The Federal Withholding amount is calculated based on your W4 elections.
True
The Rule of 125 is for every $10,000 that you borrowed in student loans, your monthly payment will be approximately $125/month.
True
The Total Cost of Ownership includes not only loan interest, maintenance and repair expenses but also insurance, taxes, and fees.
True
The average used 3yr old car purchase is about $18,000.
True
The bank loan officer expects my house purchase down payment to show in my account for 3 months before applying for a mortgage loan.
True
The company loaning you money owes you a repayment schedule and information about interest rates, fees, and outstanding balance.
True
The economic train wreck in slow motion happens more often during the first 5 years after college.
True
The estimated average cost for 4 years at SHU is $200,000.
True
The median net worth of families headed by a person thirty-five to forty years old was 30 percent less in 2010 than it was for their counterparts in 1983.
True
The overwhelming majority of charitable giving in the US comes from individuals.
True
Various arguments suggest that cryptocurrency agreements amount to a large multilateral contract to which all participants are parties.
True
When you buy a car, unlike a lease, the car is an asset when figuring your balance sheet net worth.
True
You pay 1.45% out of your pay and your employer pays an additional matching 1.45% to support Medicare.
True
A good rule of thumb is 10% depreciation per year of ownership.
True
A lawyer can help translate your words into the language that a judge expects in a court room.
True
A living wage does not include some basic buffers needed to improve one's quality of life or protect against emergencies.
True
A broker is paid a fee, usually by the seller, to help you make a decision to buy a product.
True
A college education is a long-term investment.
True
A contract needs to identify two parties to be bound to the agreement as written, and record the signature approval.
True
A court may order your paycheck to be garnished and the funds used to pay delinquent child care support.
True
A gentleman s agreement is an agreement which is not an agreement, made between two persons neither of whom is a gentleman, whereby each expects the other to be strictly bound without himself being bound at all.
True
