unit 4 answers dave ramsey

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why do you plan for retirement instead of relying on Social Security to take care of you?

(all) 1. monthly social security benefits are not going to be enough to live on comfortablely 2. you arent depending on someone else 3. the systemmay not be able to pay promised benefits in the future

which rule should you follow when interviewing?

(all) 1. present yourself well 2. arrive on time 3. maintain eye contact at all times

why is cash value life insurance not a good investment?

(allO 1. returns low 2. when you die the insurance comp keeps cash value 3. fees deducted from your return are high

an opinion of value on what a house is worth

appraisal

justin has a steady job with a masters degree and has saved 10,000 what housing option should he use?

buy

the one thing you can count on when it comes ot carreers

change

covers damage to a vehicle due to an automobile accident

collision

which is not a horrible mortgage option?

conventional

the value of you house over and above whta you owe

equity

ARM and balloon mortagages are good options for people with bad credit

false

not every state has FICA tax withholdings

false

term life insurance is more expensive because it funds a savings plan

false

the average job is five years in length

false

you do not need renters insurance if you live in a dorm at college

false

your salary is the most important mootivation for working

false

used to fund government programs agencies roads ecrt

federal income tax

the purpose of insurance is to increase your investmenta

flse

what part of your homeowners insurance policy will you replace the contents of your house regardless of value?

garunteed replacement

what role does the resume play in the job hunting process?

gets you an interview

what is the difference between gross pay and net pay?

gross pay is before taxes net pay is after taxes

the best type of identity theft insurance is one that

includes restoration services

a good way to save on insurance premium is to

increase your deductable

loan payments on a house

mortgage

which is a type of insurance to avoid?

mortgage insurance

provides an income if the insured person is unable to perform the job he or she trained for

occupational disability

your job should blend all but which of the following?

parents wishes

the amount you pay annually quarterly or monthly for insurance

premium

the face value of a mortgage not including interest

principal

source of revenue for local governments

property tax

experts in buying and selling homkes

realtors

greg travels frequently which housing option is best for him?

rent

julie works full time and is finishing college so she can be a teacher. what housing option would be best for her?

rent

covers the contencts of a house or apartment when you rent

renters insurance

lists your personal work and education history

resume

major source of revenue for state governments

sales tax

which of the following will not likely lead to reduced insurance rates?

speeding tickets

which tax may or may not be withheld from your paycheck depending on where you live? S

state

life insurance for a specified period of time

term life insurance

which is an advantage of taking a 15 yr mortgage vs a 30 yr mortgage?

the difference you save in interest is significant

the primary reason for insurance is to

transfer risk

amenities and extras such as health clubs and spas, will increase the rental price of anapartment

true

if your mortgage payment exceeds 25% of your net income, you have bought more house than you can afford

true

incresing your deductible usyally decreases the premium

true

making a good first impression in the interview process

true

the co-pay is the amount of money you pay out of pockey when you make a visit to a hospital or doctors office

true

the multiple listing service is the computer system that contains real estate listings from all realtors

true

there are two parts to FICA: Medicare and Social Security

true

you should always use a realtor when selling a home

true

what is true about your strengths and personality?

you grow the most in your areas of strength

you are ready to buy a home under the following conditions

you havean emergency fund and you can pay at least 190% down


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