Ugba 135 Final Exam (Fall 2021) Questions And Answers With Complete Solutions.

The "cornerstone" of wealth is {Ans: Being frugal, not cheap but value oriented}A high end income earner in a 39.6% tax bracket may earn more after taxes from a 5% interest municipal bond than a 7% interest corporate bond. {Ans: True}The legal limit on interest applied to unpaid credit card balances is: A. There is no limit B. 28% C. 35% D. 37% {Ans: A. (There is no limit)}The recently passed Credit Card Act applied to both consumer and business credit cards. (T/F) {Ans: False}True or False: If you place a market order to buy...you expect to buy at the ask price. {Ans: True}Money set aside in an HSA or FSA is not tax deductible, but withdrawals to pay eligible medical expenses are tax free (T/F) {Ans: False}Which of the following may be a risk to the value fo a REIT: A. Cyclical consumer slumps in the economy B. Lower vacancy rates C. As a stock, losses can be used to offset gains D. Rising rents {Ans: A. (Cyclical consumer slumps in the economy)}When transferring money an IRA or 401(k) to another IRA or 401(k), always have it done directly, account to account