Fin380 Test 3 Hoffman Asu With Complete Questions And Answers

No load funds {Ans: -mutual funds that do not charge a commission when you buy or sell}When do you pay prepaid interest? {Ans: if your first payment is more than a month away}Class A {Ans: front end costs + fees}level term {Ans: constant death benefit with possibly increasing annual premiums}3 major national credit bureaus {Ans: -Experian -Equifax -TransUnion}How much life insurance is necessary? {Ans: 1. Earnings Multiple Approach 2. Needs Approach}Mortgage {Ans: a pledge of real property to secure a debt}Aspects of a credit card {Ans: 1. Teaser rates 2. Default rates- very high APRs that are assessed whenever certain rules of the account are violated (late pay) 3. Variable interest rates- are fixed rate cards really fixed? 4. Annual fees and fees for over the limit charges 5. Liability for stolen cards 6. Credit card ins. to reimburse you for the first $50 in liability (dont purchase) 7. Credit life insurance- pay off your balance if you get sick or die (dont buy)}Beneficiary {Ans: person who gets the money}Futures and options usually expire _________ {Ans: on the 3rd Friday of the month}How do you find a good mutual fund?