If a bond is purchased at a price below the face value, the yield to

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Please answer the 30 questions below with the correct answer from the choices listed below for each. I would greatly appericate if I could have this within an hour and will tip for a job well done. Thank you.

 

 

 

Question 1

 

 

 

If a bond is purchased at a price below the face value, the yield to maturity is:

 

greater than the stated interest rate.

 

the same as the stated interest rate.

 

less than the stated interest rate.

 

zero.

 

of no significance.

 

.

 

 

 

Question 2

 

 

 

A long-term technique used by investors who purchase an equal dollar amount of the same stock at equal intervals in time is called:

 

dollar cost averaging.

 

dividend reinvestment plan.

 

buy and hold technique.

 

regulated transaction.

 

secured transaction.

 

.

 

 

 

Question 3

 

 

 

A stock that sells for less than $1 per share is called a:

 

fractional stock.

 

penny stock.

 

dollar stock.

 

ten-dollar stock.

 

bad investment.

 

.

 

 

 

Question 4

 

 

 

Which one of the following expenditures for retirees is likely to decrease?

 

clothing expenses

 

insurance expenses

 

medical expenses

 

expenses for leisure activities

 

gifts and contributions

 

.

 

 

 

Question 5

 

 

 

During your retirement, your employer’s health insurance plan and Medicare will cover your medical expenses.

 

false

 

true

 

.

 

 

 

Question 6

 

 

 

What is likely to be an individual’s single biggest asset?

 

Their automobile

 

Their jewelry

 

Their bank account

 

Their home

 

None of the choices

 

.

 

 

 

Question 7

 

 

 

With an open-end credit, you pay back one-time loans in a specified period of time in equal amounts.

 

false

 

true

 

.

 

 

 

Question 8

 

 

 

Which of the following is most likely not a valid reason for using credit?

 

Borrowing for a stay in a hospital because of appendicitis

 

Borrowing to purchase a car so that you can go to work full time

 

Borrowing to buy a printer for your home office now because you now it will be twice as expensive in two years

 

Borrowing to pay for your expensive dinner and movie every week

 

All of the choices are valid reasons for using credit

 

.

 

 

 

Question 9

 

 

 

Gordon Carey uses his Visa card to purchase a new digital camera and lens. What type of credit did Gordon use?

 

Installment sales credit

 

Installment cash credit

 

Single lump sum credit

 

Revolving credit

 

Incidental credit

 

.

 

 

 

Question 10

 

 

 

For most mutual funds, the net asset value is calculated:

 

yearly.

 

quarterly.

 

weekly.

 

daily.

 

whenever an investor calls and requests a price quote.

 

.

 

 

 

Question 11

 

 

 

Which of the following is an advantage of an exchange traded fund (EFT)?

 

No minimum investment amount

 

Shares can be bought and sold through a broker at any time at the current price

 

Management fees are often lower

 

Can use limit orders to purchase EFTs

 

All of the choices are advantages of EFTs

 

.

 

 

 

Question 12

 

 

 

For a mutual fund, the turnover ratio measures:

 

the length of time a manager has been in charge of the fund.

 

the amount of profit the fund earns from one investment period to the next.

 

the number of months the average investor holds the fund before selling.

 

the percentage of a fund’s holdings that have changed during a 12-month period.

 

the percentage of institutional investors who own the fund.

 

.

 

 

 

Question 13

 

 

 

Grady Perdue has assets worth $1,500,000 and has written a legal document that specifies that all of his money go to his children. After he dies, there is a legal process to determine whether his document specifying how his assets be divided is valid. This is also the legal process by which his executor manages and distributes his property. What is this legal process called?

 

An estate

 

A will

 

A trust

 

Probate

 

None of the choices

 

.

 

 

 

Question 14

 

 

 

A trust established by your will that becomes effective upon your death is called a(n) ____________ trust.

 

testamentary

 

living

 

revocable

 

irrevocable

 

insurance

 

.

 

 

 

Question 15

 

 

 

A legal document authorizing someone to act on your behalf is called a:

 

codicil.

 

rider.

 

power of attorney.

 

trustor.

 

proxy.

 

.

 

 

 

Question 16

 

 

 

A prime reason for buying an annuity is to:

 

save money for college education

 

start a new business

 

accumulate funds to invest in stocks

 

give you retirement income for the rest of your life

 

get rich quick

 

.

 

 

 

Question 17

 

 

 

Who has the greatest need for life insurance?

 

households with small children

 

singles living alone

 

singles living with parents

 

dual income couple

 

children

 

.

 

 

 

Question 18

 

 

 

Jerry Lewis is thinking about purchasing some life insurance. He goes to a company that is owned by shareholders. What type of life insurance company has he gone to?

 

A stock life insurance company

 

A debt life insurance company

 

A mutual life insurance company

 

An exclusionary life insurance company

 

None of the choices

 

.

 

 

 

Question 19

 

 

 

Automobile liability insurance covers the insured when he or she is held responsible for losses suffered by others.

 

True

 

False

 

.

 

 

 

Question 20

 

 

 

In times of high inflation, personal incomes generally keep up with the rate of inflation.

 

 

 

True

 

False

 

.

 

 

 

Question 21

 

 

 

Similar to corporate shareholders, holders of mutual funds have a say in running the company, since they have equity interest in the pool of assets and a residual claim on the profits.

 

 

 

True

 

False

 

.

 

 

 

Question 22

 

 

 

Savings is the accumulation of excess funds by intentionally spending less than you earn.

 

True

 

False

 

.

 

 

 

Question 23

 

 

 

A business cycle is a pattern of economic activity that includes an expansion, peak, contraction, and trough.

 

True

 

False

 

.

 

 

 

Question 24

 

 

 

High-demand occupations tend to pay low salaries.

 

True

 

False

 

.

 

 

 

Question 25

 

 

 

The most expensive loans are available from:

 

parents.

 

friends.

 

banks.

 

finance companies.

 

credit unions.

 

 

 

Question 26

 

 

 

Frank Wert wants to get a lower interest rate on his loan for the purchase of a new boat. He uses the boat as collateral for the loan. In which way is Frank reducing his lender’s risk?

 

He is sharing the interest rate risk with his lender

 

He is pledging valuable assets that can be seized if the loan is not repaid

 

He is taking a larger stake in the asset he is purchasing

 

He is repaying the loan over a faster period of time

 

None of the choices

 

.

 

 

 

Question 27

 

 

 

There are no costs involved in filing for a bankruptcy.

 

false

 

true

 

.

 

 

 

Question 28

 

 

 

Kevin Brown rides his bicycle to work so that he doesn’t have to worry about getting in a car accident. How is Kevin managing his risk?

 

Answer Risk Avoidance

 

Risk Reduction

 

Risk Assumption

 

Risk Shifting

 

Risk Creation

 

.

 

 

 

Question 29

 

 

 

Negligence refers to:

 

Answer failure to take ordinary and reasonable care.

 

cancellation of insurance.

 

property damage.

 

high risk insurance coverage.

 

common hazards in our society.

 

.

 

3.33 points

 

Question 30

 

 

 

Using a home security system is an example of ____________ risk.

 

Answer shifting

 

accepting

 

reducing

 

sharing

 

transferring 

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