LIFC 603 Exam 3

LIFC 603 Exam 3 Liberty University

1. Which is NOT a type of risk?
2. When counseling a person on a vehicle purchase you should:
3. What are factors that affect investment choices?
4. How does somebody buy a car?
5. The Total Obligations Ratio can be determined by this formula:
6. What are the advantages of buying a new car?
7. A loan that is fixed for a certain period of time then becomes variable is:
8. Which of the following are included in typical automobile insurance?
9. What does the bible say about investing?
10. An Adjustable Rate Mortgage is usually a higher risk for the lender than for the borrower.
11. Which of the following is correct?
12. The role of a real estate agent includes:
13. What factor does NOT affect choice of investments?
14. What are the disadvantages of buying a new car?
15. Before buying a home, it is a good idea to get pre-approved for a loan amount prior to beginning the process.
16. When calculating the “annual rate of return on investment”: If I invest $2000.00 every year for 5 years at 6% how much will I have after 5 years?
17. When giving investment advice a financial coach:
18. When buying a house, it is important to distinguish between needs and wants.
19. The FHA states that a families housing expense ratio cannot exceed 41%.
20. An employee is responsible for:
21. Which of the following is NOT an advantage of leasing?
22. Which of the following is a common lease requirement?
23. What are the advantages of buying a used car?
24. Which One of the following is a type of Mutual Fund?
25. On the second visit to tour a potential home you wish to buy it is good to do all of the following except: