135 Final Exam Review 2024/2025 Exam With 100% Verified Solutions

T/F: 401k are set up on automatic payment roll deduction {Ans: True}What should you always do before buying a property? {Ans: Always have properties inspected before you buy, check building codes, zoning codes, and a proper use permit}Disability insurance does not cover you if you were not.... {Ans: employed}When interst rates go up what happens to the prices of bonds that have already been issued? {Ans: Go down}What the major things are covered by auto insurance policies? {Ans: ? *Also if youre auto insurance has some sort of car rental insurance.}At what point is your AGI too high to contribute to a ROTH IRA? {Ans: If you file taxes as a single person, your Modified Adjusted Gross Income (MAGI) must be under $135,000 for tax year 2018 and $137,000 for tax year 2019 to contribute to a Roth IRA, and if you're married and file jointly, your MAGI must be under $199,000 for tax year 2018 and $203,000 for tax year 2019}What is the standard dollar amount you can take out on your deduction? {Ans: $12,000 single 24,000 married}What does trading on margin mean? {Ans: Buying on margin is borrowing money from