just for tritech !!!

Question 1 1 pts <p>Which one of the following is specifically designed to set aside funds for college?</p> Which one of the following is specifically designed to set aside funds for college?

certificate of deposit

529 plan

401(k) plan

time deposit

IRA

  Flag this Question Question 2 1 pts <p>Which one of the following is a characteristic of a prepaid tuition plan but not a characteristic of a college savings plan?</p> Which one of the following is a characteristic of a prepaid tuition plan but not a characteristic of a college savings plan?

no age limit

open enrollment all year

locked-in tuition price

lack of state guarantee

no state residency requirement

  Flag this Question Question 3 1 pts <p>You contribute 3 percent of your pay to your employer's 401(k) plan and your employer provides a 2 percent match. How much will be contributed into your plan during the year if your annual salary is $38,000?</p> You contribute 3 percent of your pay to your employer's 401(k) plan and your employer provides a 2 percent match. How much will be contributed into your plan during the year if your annual salary is $38,000?

$760

$1,140

$1,900

$1,163

$1,500

  Flag this Question Question 4 1 pts <p>You own a home which is currently valued at $148,500. You have a $113,600 mortgage and a $7,500 home equity loan. What is the amount of your home equity?</p> You own a home which is currently valued at $148,500. You have a $113,600 mortgage and a $7,500 home equity loan. What is the amount of your home equity?

$34,900

$27,400

$141,000

$148,500

$156,000

  Flag this Question Question 5 1 pts <p>Theresa recently purchased her first house. Her mortgage requires her to pay $1,250 a month for five years and then pay a lump sum of $110,000, which will pay off the loan. Which type of loan does Theresa have on her house?</p> Theresa recently purchased her first house. Her mortgage requires her to pay $1,250 a month for five years and then pay a lump sum of $110,000, which will pay off the loan. Which type of loan does Theresa have on her house?

balloon mortgage

HELOC

home equity loan

fixed rate mortgage

adjustable rate mortgage

  Flag this Question Question 6 1 pts <p>A checking account at a bank is most comparable to which one of the following?</p> A checking account at a bank is most comparable to which one of the following?

traditional IRA account

share draft account at a credit union

savings account at a commercial bank

bank certificate of deposit

time deposit at a credit union

  Flag this Question Question 7 1 pts The bank shows that you currently have $826 in your checking account. You have a $54 outstanding deposit and three outstanding checks in the amounts of $28, $36, and $59. The bank charges a monthly fee of $5 on this account, which was charged to your account yesterday. You have not deducted the $5 out of your check book balance. What will be the amount of your check book balance if you reconcile your account right now?

$752

$757

$782

$890

$895

  Flag this Question Question 8 1 pts <p>You have a tendency to forget to deduct ATM withdrawals from your check book balance. Your account is with The Corner Bank. Which one of the following should you consider given this tendency?</p> You have a tendency to forget to deduct ATM withdrawals from your check book balance. Your account is with The Corner Bank. Which one of the following should you consider given this tendency?

overdraft protection

IRA account

bank shares account

interest-bearing checking with minimum balance requirement

bank certificate of deposit

  Flag this Question Question 9 1 pts <p>Which one of the following is NOT a common characteristic of a credit union?</p> Which one of the following is NOT a common characteristic of a credit union?

member owned

exemption from state but not federal income taxation

lower interest rates on loans than those offered by commercial banks

non-profit institution

dividends paid on depositor's accounts

  Flag this Question Question 10 1 pts <p>Banks may charge a fee for:</p> Banks may charge a fee for:

seeing a teller in person.

having an inactive checking account.

replacing a lost ATM/debit card.

stopping payment on a check.

any of the activities listed in the other answers.