Finance FinalBy admin / August 24, 2019 Welcome to your Finance Final Final Exam. Click "Next" to continue. What is the primary difference between a 529 Plan and a 401(k)? A 401(k) is strictly for educational purposes and the 529 is not. A 401(k) is only for children and matures when the child is 18 years old. A 529 Plan is designated for educational purposes, whereas a 401(k) is a general investment account. Every employer offers a 401(k) and no employers offer the 529 Plan None Loaning someone money to start or build a business can be considered an alternative investment, and it would be a good idea to contact a financial advisor before doing so. True False None As an agent, why is it important for you to know the basics about some of the financial instruments? (Select all that apply) It allows you to speak more confidently with people in the finance industry. It makes it easier for you to connect with people in the finance industry. You can legally sell stocks and other financial instruments to the heroes. You can build connections between our heroes and any financial needs they may want from the advisor/broker. In most cases, a true retirement planner has a license with the state and complies with all regulations of the SEC. True False None According to the latest information from the Federal Reserve, credit debt has exceeded what dollar amount? $3.5 Billion $3.5 Bazillion $3.5 Trillion $3.5 Trazillion None Which of the following are types of life insurance policies? (Select all that apply) Whole Life Partial Life Term Life Annuity Life Universal Life Non-humanities college graduates earn, an average, ________% more over a lifetime than do non-college graduates. 200 300 400 500 None Defaulted student loans drop off a credit report after two years. Please select your answer True False Which option below is a good way to help you build a connection between our program and the services of a broker? Ask him or her if they have children and whether or not they want them to be successful later in life. Ask them if they work with mutual funds, then state that our many people are more likely to invest in a mutual fund than take chances directly on the stock market. Tell him or her that most people already have a retirement plan and are just looking for good life insurance. None You are talking to, John, an investment broker in San Diego who does not see any benefit to advertising with us. What should you say? John, you are right, most of our heroes already have retirement accounts and are set for the future. John, we can guarantee that many of our local heroes will start calling you to supplement their retirement income. John, we can advertise you as the exclusive investment broker to the heroes in the San Diego area. Many retiring heroes do not want to rely on their retirement benefits alone and are looking for honest and supportive brokers to help them out. None Real Name Phone Name Unit Name Email Address Time's up
