Fin

Question 1:

What are some benefits of leasing vs buying a car and buying vs leasing?

Which

would you prefer to do and why?

Question 2: On average, how much does a

car depreciate in

the first 3 years (percentage)?

Question 3: What two obligations need to be met for your house to be exempt from capital gains

tax?

How much is exempt?

Question 4: In what cases might an adjustable

-

rate mortgage be advantageous for a home

owner.

In what

cases might

it be inappropriate?

Question 5: How does a real

-

estate agent get paid?

Question 6: What are current rates for a 15 year and 30 year mortgage?

Question 7: How many months of income should

a person have saved in an emergency account?

Question 8:

How is Chapter 7 bankruptcy different than Chapter 13?

Question 9: List the common obligations that do not get discharged, or wiped out, in a Chapter 7

bankruptcy?

Question 10:

How long does Chapter 7 bankruptcy stay on your credit record?

Question 11:

How long does Chapter 13 bankruptcy stay on your credit record?

Question 12:

What

are two

tax benefits of contributing to a 529 college savings plan?

Question 13:

What is FICA tax?

What percentage do you pay, and what percentage does your

employer pay?

What percentage do you pay if you are self

-

employed?

Question 14:

In what case would it be

beneficial to itemize your tax deductions?

Question 15: How is an HSA different than an FSA?

REFER TO YOUR CASE

Question 16: Does the person(s) in your case fall w

ithin the appropriate debt

-

to

-

income ratios

when considering their car(s) payment and their mortgage or rent payments?

If your person does

not have a home, what do you think they can afford?

Question 17: Should your person(s) consider refinancing their mo

rtgage(s)?

If so, to what type

of loan and length, and why?

Are they

making extra payments every month?

What are benefits

of doing this and what are

their opportunity costs?

Question 18:

Does your person(s) have enough emergency funds?

If not,

suggest how much

they should have and

ways they can start building this up.

Question 19:

Are their areas where your person(s) can stop little financial

leaks?

Stopping cold

turkey may be difficult and you might face some resistance, so offer some affordab

le

alternatives.

Question 20:

Might your clients benefit for establishing a 529 college savings plan?

Question 1: What are some benefits of leasing vs buying a car and buying vs leasing? Which

would you prefer to do and why?

Question 2: On average, how much does a car depreciate in the first 3 years (percentage)?

Question 3: What two obligations need to be met for your house to be exempt from capital gains

tax? How much is exempt?

Question 4: In what cases might an adjustable-rate mortgage be advantageous for a home

owner. In what cases might it be inappropriate?

Question 5: How does a real-estate agent get paid?

Question 6: What are current rates for a 15 year and 30 year mortgage?

Question 7: How many months of income should a person have saved in an emergency account?

Question 8: How is Chapter 7 bankruptcy different than Chapter 13?

Question 9: List the common obligations that do not get discharged, or wiped out, in a Chapter 7

bankruptcy?

Question 10: How long does Chapter 7 bankruptcy stay on your credit record?

Question 11: How long does Chapter 13 bankruptcy stay on your credit record?

Question 12: What are two tax benefits of contributing to a 529 college savings plan?

Question 13: What is FICA tax? What percentage do you pay, and what percentage does your

employer pay? What percentage do you pay if you are self-employed?

Question 14: In what case would it be beneficial to itemize your tax deductions?

Question 15: How is an HSA different than an FSA?

REFER TO YOUR CASE

Question 16: Does the person(s) in your case fall within the appropriate debt-to-income ratios

when considering their car(s) payment and their mortgage or rent payments? If your person does

not have a home, what do you think they can afford?

Question 17: Should your person(s) consider refinancing their mortgage(s)? If so, to what type

of loan and length, and why? Are they making extra payments every month? What are benefits

of doing this and what are their opportunity costs?

Question 18: Does your person(s) have enough emergency funds? If not, suggest how much

they should have and ways they can start building this up.

Question 19: Are their areas where your person(s) can stop little financial leaks? Stopping cold

turkey may be difficult and you might face some resistance, so offer some affordable

alternatives.

Question 20: Might your clients benefit for establishing a 529 college savings plan?