ALLIED FIN202 all MODULE HOMEWORK ASSIGNMENT [ module 1 to 8 ]

Welcome to the Module 1 Homework Assignment for FIN 202: Personal Finance.This section prepares you to complete this assignment successfully. Please follow these instructions to complete and submit this assignment.You will create a document in either a .doc or .rtf format to record and save your work. If you have never created documents in an .rtf format, please visit the Academic Resource Center and click on Tutorials. You will then see a list of tutorials on the following page. Click on RTF Tutorial.Read the instructions carefully and review your work before you submit your assignment.Include a title page with this assignment. Your title page should follow standard APA formatting. Please view the .allied.edu/Pages/ViewPage.aspx?GroupID=189″>Title Page Example.When you are ready to submit the assignment, click the Start button at the bottom of the page to access the submission page and follow the instructions.If you have any problems with this assignment, please e-mail your instructor.PART IDirections: Using Microsoft® Word to save and submit your work, please provide detailed and elaborate responses to the following questions. Your responses should include examples from the reading assignments.1. Describe the S-M-A-R-T approach to financial planning goal setting. Give an example.2. Linda Ashworth is trying to decide whether to keep her money in a savings account or in a mutual fund. What would you tell her to help her analyze her decision?3. What is meant by the term, “Time Value of Money?”4. What steps should a person take when planning a career?5. What are the six steps in the financial planning process?6. What types of risks are commonly associated with personal financial decisions? How can these risks be evaluated and minimized to reduce personal and financial difficulties?7. People are commonly overwhelmed by the many influences on personal financial decisions. What are the factors affecting financial planning?8. What are the main components of personal financial planning?9. Louise Ellis recently has been offered employment in another city. She has been employed in her current position for four years. What factors should Louise consider when evaluating this new position?10. Suzanne is beginning to think she needs to find a new job. She is happy with her present salary and job duties, and she has a large corner office with a wonderful view of the city. In spite of this, she dreads going to work each day. Discuss four reasons that may be to blame for her dissatisfaction at work.11. What steps should a person take when planning a career?12. What factors affect the availability of employment positions?13. Discuss the types of information available for use when doing career planning.14. What activities are commonly suggested when preparing for a job interview?15. You are given the choice of $4,000 in extra taxable income per year or a tax-exempt medical policy. The medical policy costs $300 per month. Your tax rate is 25%. Considering financial factors only, should you take the cash or the medical policy? Explain your decision.Part IIPreparing for an InterviewDirections:Write a 1-2 page, double-spaced paper in 12 pt. font that answers the following question. Please use APA format.Based on library research, a web search, and experiences of others, obtain information about effective interviewing techniques. Describe what actions one might take when preparing for and participating in an interview. Include what to do before, during, and after the interview process. Be sure to have a minimum of two references and cite your references appropriately. The 2-3 page paper requirement does NOT include the cover or reference page..8181819915771px;”=””>Welcome to the Module 2 Homework Assignment for FIN 202: Personal Finance.This section prepares you to complete this assignment successfully. Please follow these instructions to complete and submit this assignment.You will create a document in either a .doc or .rtf format to record and save your work. If you have never created documents in an .rtf format, please visit the Academic Resource Center and click on Tutorials. You will then see a list of tutorials on the following page. Click on RTF Tutorial.Read the instructions carefully and review your work before you submit your assignment.Include a title page with this assignment. Your title page should follow standard APA formatting. Please view the .allied.edu/Pages/ViewPage.aspx?GroupID=189″>Title Page Example.When you are ready to submit the assignment, click the Start button at the bottom of the page toWelcome to the Module 3 Homework Assignment for FIN 202: Personal Finance.This section prepares you to complete this assignment successfully. Please follow these instructions to complete and submit this assignment.You will create a document in either a .doc or .rtf format to record and save your work. If you have never created documents in an .rtf format, please visit the Academic Resource Center and click on Tutorials. You will then see a list of tutorials on the following page. Click on RTF Tutorial.Read the instructions carefully and review your work before you submit your assignment.Include a title page with this assignment. Your title page should follow standard APA formatting. Please view the .allied.edu/Pages/ViewPage.aspx?GroupID=189″>Title Page Example.When you are ready to submit the assignment, click the Start button at the bottom of the page to access the submission page and follow the instructions.PART IDirections: Using Microsoft® Word to save and submit your work, please provide detailed and elaborate responses to the following questions. Your responses should include examples from the reading assignments.1. Define consumer credit and explain its advantages and disadvantages.2. What are the two general rules of measuring credit capacity?3. A friend comes to you for advice about improving his or her credit score. What advice would you give to this friend? Make sure to include the five steps for improving your credit score.4. What are two key concepts to keep in mind as you shop for credit?5. Explain the Rule of 78s.6. Explain choices available in declaring bankruptcy.7. What are the two basic types of credit? Give examples of both.8. What are the three most common types of closed-end credit?9. What is revolving check credit?10. How can you protect yourself against debit/credit card fraud?11. What are a few things to consider before you cosign a loan?12. In what ways can you lower the risk to your lender in order to reduce your borrowing costs?13. Explain the concept of “float.”14. Explain simple interest.15. What can you do if you are unable to meet your credit obligations?16. In open-end credit, what are the various systems creditors use to calculate the balance on which they assess finance charges?17. What are the various methods used to calculate interest?PART IIProgress Problem (continuation from Module 2)Obtaining Credit (p. 210)Life SituationFinancial DataSingleMonthly Income: $1,750Age: 23Living Expenses: $1,210No dependentsPersonal Property: $7,300Graduate and EngagedSavings: $5,000Student Loan: $4,200Credit Card Debt: $4,600Shelby has now been out of college for about a year and has continued to work at the pet store full time. She recently got engaged to Mark Lawrence. After the last year of saving, she now has an adequate emergency fund. However, in the last year, she and Mark both have used credit cards to make many of their purchases. They used cards (they each have several) when they ran out of money near the end of each month. They also used credit to fund a vacation to the beach. Shelby justified the trip and many of her purchases because both of the cards she uses have rewards programs. Both Shelby and Mark almost always make their payments on time, but have been unable to pay off more than the minimum balance every month, leaving them with credit card debt. Shelby and Mark would like to get married soon and possibly even buy a condo, but are not sure how to finance these things while also starting Shelby’s Pet Salon.Directions:Write a 1-page, double-spaced paper in 12 pt. font answering the following questions. Please use APA format.1. Given her current situation, list some suggestions on how Shelby can reduce her credit card debt.2. What is the best way for Shelby and Mark to become more aware of the effect of credit card debt on their current and long-term financial situation?access the submission page and follow the instructions.PART IDirections: Using Microsoft® Word to save and submit your work, please provide detailed and elaborate responses to the following questions. Your responses should include examples from the reading assignments.1. What are the main components of a personal balance sheet and a cash flow statement? What is the main purpose of each of these personal financial statements?2. Diane Rossiter lives with her two sons, ages 6 and 9. They have had difficulty managing their finances. What purpose could a budget serve for the Rossiters? What actions would you suggest for the budgeting process to be successful?3. Darlene Elkin has the following financial amounts: checking accounts $850, savings account $3,500, credit card balance $300, jewelry $1,600, real estate valued at $78,000, a mortgage on the real estate of $23,000. What is the total of Darlene’s assets? What actions could she take to increase her net worth?4. Evan Nolan is a college graduate who has just landed a great job. He feels it is time for him to start saving a portion of his earnings. What factors would you recommend he consider when evaluating and comparing different savings plans?5. You are planning to purchase a house in five years and intend to save a fixed amount of money each month for a down payment. How will you invest your savings and what are important considerations in selecting an investment vehicle6. Brad Kellogg maintains a monthly balance in his checking account of approximately $150, writes about 25 checks a month, and makes three deposits each month. How would Brad decide which one of the following checking accounts he should use? Bank A: regular checking account with a monthly fee of $4.50 for an unlimited number of checks, no monthly balance requirement, and no interest earnings; Bank B: interest-bearing checking account paying 4 percent interest on balances over $300 and a monthly service charge of $6 if the balance falls below $300; Bank C: special checking account that charges 35 cents a check and 20 cents for each deposit, no interest earnings; or Bank D: minimum-balance account that requires a $200 minimum balance to avoid the $10 monthly fee, two percent interest paid if the balance remains above $400.7. What types of financial records and documents should be kept in a safe deposit box?8. Explain why opportunity cost is an important concept in money management.9. What are the main types of financial institutions used by consumers?10. Josh earned $120 on $1500 invested in a high-yield money market account. He is taxed at 28% of his earnings. What is the effective yield on his investment?Welcome to the Module 4 Homework Assignment for FIN 202: Personal Finance.This section prepares you to complete this assignment successfully. Please follow these instructions to complete and submit this assignment.You will create a document in either a .doc or .rtf format to record and save your work. If you have never created documents in an .rtf format, please visit the Academic Resource Center and click on Tutorials. You will then see a list of tutorials on the following page. Click on RTF Tutorial.Read the instructions carefully and review your work before you submit your assignment.Include a title page with this assignment. Your title page should follow standard APA formatting. Please view the .allied.edu/Pages/ViewPage.aspx?GroupID=189″>Title Page Example.When you are ready to submit the assignment, click the Start button at the bottom of the page to access the submission page and follow the instructions.If you have any problems with this assignment, please e-mail your instructorRunning head: [INSERT TITLE HERE][INSERT TITLE HERE]Student NameAllied American UniversityAuthor NoteThis paper was prepared for [INSERT COURSE NAME], [INSERT COURSE ASSIGNMENT] taught by [INSERT INSTRUCTOR’S NAME].PART IDirections: Using Microsoft® Word to save and submit your work, please provide detailed and elaborate responses to the following questions. Your responses should include examples from the reading assignments.1. Steve Franklin recently purchased a stereo system. After a few weeks it overheated, causing a small fire and some minor damage. What actions would you recommend to Steve to resolve his consumer complaint? What legal actions might Steve consider for this situation?2. Describe four common consumer myths and explain the dangers of such erroneous beliefs. Why do you think they continue to be believed by many consumers? Offer suggestions for ways to increase consumer awareness of such myths.3. Explain what amortization is and how a down payment and loan duration impact it.4. Explain how current interest rates can affect the price of a home.5. What is the purpose of an escrow account and what costs are typically included?6. What factors influence most people’s buying decisions?7. What are the main sources of consumer information?8. What legal actions are available when assistance is needed to resolve a consumer problem?9. Explain the difference between arbitration and mediation.10. Distinguish between an implied warranty and an express warranty.11. Differentiate between a cooperative and a condominium. Be sure to include a discussion of the ownership and responsibility for the common areas.12. Explain negative amortization and how such a situation can occur.13. John Ashford needs to sell his home because of a job transfer to another city. What actions should John take to sell his home?14. Gerry Intel is considering buying a home. What actions would you recommend for her to take to accomplish this goal of buying a home?15. What factors influence the type of housing a family will select?.8181819915771px;”=””>Welcome to the Module 5 Homework Assignment for FIN 202: Personal Finance.This section prepares you to complete this assignment successfully. Please follow these instructions to complete and submit this assignment.You will create a document in either a .doc or .rtf format to record and save your work. If you have never created documents in an .rtf format, please visit the Academic Resource Center and click on Tutorials. You will then see a list of tutorials on the following page. Click on RTF Tutorial.Read the instructions carefully and review your work before you submit your assignment.Include a title page with this assignment. Your title page should follow standard APA formatting. Please view the .allied.edu/Pages/ViewPage.aspx?GroupID=189″>Title Page Example.When you are ready to submit the assignment, click the Start button at the bottom of the page to access the submission page and follow the instructions.If you have any problems with this assignment, please e-mail your instructor.Running head: [INSERT TITLE HERE][INSERT TITLE HERE]Student NameAllied American UniversityAuthor NoteThis paper was prepared for [INSERT COURSE NAME], [INSERT COURSE ASSIGNMENT] taught by [INSERT INSTRUCTOR’S NAME].PART IDirections: Using Microsoft® Word to save and submit your work, please provide detailed and elaborate responses to the following questions. Your responses should include examples from the reading assignments.1. What are the five basic types of health insurance? What are their benefits and limitations?2. What are some things that you can do to reduce your personal health care costs?3. Why are the costs of health insurance and health care increasing?4. What are the four methods of determining your life insurance needs? Explain the basic principle of each method.5. What do the terms “term,” “decreasing-” or “declining term,” and “whole life” mean with respect to life insurance?6. What is an annuity? What is the difference between life insurance and an annuity? Include payment options and tax considerations.7. Identify the main private sources of health care insurance.8. What is disability income insurance? What are the major sources of disability income insurance?9. What are the primary sources of government health care insurance?10. What is the importance of health insurance and disability insurance in personal financial planning?11. What is life insurance? What is its purpose and principle?12. What are the two types of life insurance companies? Explain the basic features of each type.13. List some of the important provisions found in most life insurance policies.14. What are the steps in creating a plan to buy your life insurance?15. When choosing an insurance agent, what are some important questions to ask?PART IIWrite a 1-page, double-spaced paper in 12 pt. font answering the following question. Please use APA format.1. Why are the costs of health insurance and health care increasing?.8181819915771px;”=””>Welcome to the Module 6 Homework Assignment for FIN 202: Personal Finance.This section prepares you to complete this assignment successfully. Please follow these instructions to complete and submit this assignment.You will create a document in either a .doc or .rtf format to record and save your work. If you have never created documents in an .rtf format, please visit the Academic Resource Center and click on Tutorials. You will then see a list of tutorials on the following page. Click on RTF Tutorial.Read the instructions carefully and review your work before you submit your assignment.Include a title page with this assignment. Your title page should follow standard APA formatting. Please view the .allied.edu/Pages/ViewPage.aspx?GroupID=189″>Title Page Example.When you are ready to submit the assignment, click the Start button at the bottom of the page to access the submission page and follow the instructions.Running head: [INSERT TITLE HERE][INSERT TITLE HERE]Student NameAllied American UniversityAuthor NoteThis paper was prepared for [INSERT COURSE NAME], [INSERT COURSE ASSIGNMENT] taught by [INSERT INSTRUCTOR’S NAME].PART IDirections: Using Microsoft® Word to save and submit your work, please provide detailed and elaborate responses to the following questions. Your responses should include examples from the reading assignments.1. After graduating from a community college, you obtain a job as a medical records technician. Your monthly take-home salary is $2,000. Your monthly expenses are $1,600. Based on this information, what steps should you take to establish a long-term investment program?2. Bob and Mary Martin are both 35 years old. Although they graduated from college almost 15 years ago, they have never developed a diversified investment program. What extra money they had was invested in high-tech stocks that did quite well until the last five years. Then, with the economic downturn, they encountered major losses. How could asset allocation have reduced the dollar amounts of the Martins’ losses?3. To manage a financial crisis, many experts recommend that you take action to make sure your financial affairs are in order. Name and describe five steps you can take to ensure that your financial affairs are in order.4. Why do corporations issue stock? Why do investors buy that stock?5. What is the primary difference between common stock and preferred stock?6. Explain what dollar cost averaging is and why an investor would use the technique.7. Describe the sources of investment information investors can use to evaluate a potential investment.8. Choose four of the investment alternatives presented in Chapter 13 and describe how the factors of safety, risk, income, growth, and liquidity affect that investment alternative.9. Describe the difference between full-service, discount, and on-line brokerage firms.10. Matthew Boyd has saved $10,000 and wants to invest in common stock. Identify three investment methods he could use and briefly explain how each of those methods works.PART IIWrite a 1-page, double-spaced paper in 12 pt. font answering the following question. Please use APA format.1. Research three companies that you may want to eventually invest in. Then, list these companies and discuss why you chose these companies. In your discussion, include what sources that you can use to determine if these companies are worthy of your investment. Answer: Answers will vary depending on the companies..8181819915771px;”=””>Welcome to the Module 7 Homework Assignment for FIN 202: Personal Finance.This section prepares you to complete this assignment successfully. Please follow these instructions to complete and submit this assignment.You will create a document in either a .doc or .rtf format to record and save your work. If you have never created documents in an .rtf format, please visit the Academic Resource Center and click on Tutorials. You will then see a list of tutorials on the following page. Click on RTF Tutorial.Read the instructions carefully and review your work before you submit your assignment.Include a title page with this assignment. Your title page should follow standard APA formatting. Please view the .allied.edu/Pages/ViewPage.aspx?GroupID=189″>Title Page Example.When you are ready to submit the assignment, click the Start button at the bottom of the page to access the submission page and follow the instructions.Running head: [INSERT TITLE HERE][INSERT TITLE HERE]Student NameAllied American UniversityAuthor NoteThis paper was prepared for [INSERT COURSE NAME], [INSERT COURSE ASSIGNMENT] taught by [INSERT INSTRUCTOR’S NAME].PART IDirections: Using Microsoft® Word to save and submit your work, please provide detailed and elaborate responses to the following questions. Your responses should include examples from the reading assignments.1. How do interest rates in the economy affect the price of a corporate bond?2. You are trying to evaluate two bond issues. One bond issue is rated “A” by Moody’s; the other is rated “B.” How important are the bond ratings issued by Moody’s Investors Service? Based on your feedback, would you purchase the “A” bond or the “B” bond?3. If your primary goal is current yield, which one of these bonds is the wiser investment? Bond A: $1,000 corporate bond that pays 7 percent and has a current market value of $800; or Bond B: $1,000 corporate bond that pays 8.25 percent and has a current market value of $950?4. Why do investors purchase mutual funds instead of purchasing stocks, bonds, or other investments on their own?5. Your parents are considering the purchase of shares in a mutual fund. Discuss three advantages and three disadvantages of mutual fund investing that you believe are important for potential investors to consider.6. In what ways can a bond investor make money?7. Define five of the following six terms: (1) corporate bond (2) bond indenture (3) trustee (4) mortgage bond (5) debenture bond (6) convertible bond.8. Bonds are generally considered a relatively safe investment. How is it possible to lose money on bonds?9. What is the difference between a U.S. government Treasury bill, Treasury note, and Treasury bond?10. Corporate and Treasury bonds generally produce more interest revenue than municipal bonds. Why do investors choose to buy municipal bonds?11. Describe either the purchase options or withdrawal options that can be used to invest in or withdraw money from the investment company that sponsors an open-end mutual fund.12. Cindy and John Appleby just inherited $30,000 and would like to invest the money in a conservative mutual fund. Since they have never invested in mutual funds, they ask for your help. In your own words, describe the sources of information available for evaluating a mutual fund investment.13. Explain the difference between a load fund and a no-load fund. From a performance standpoint, is there a significant difference between mutual funds that charge commissions and those that do not?PART IIWrite a 1-page, double-spaced paper in 12 pt. font answering the following question. Please use APA format.1. You are considering purchasing shares in a mutual fund. Discuss three advantages and three disadvantages of mutual fund investing that you believe are important for potential investors to consider..8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>Running head: [INSERT TITLE HERE][INSERT TITLE HERE]Student NameAllied American UniversityAuthor NoteThis paper was prepared for [INSERT COURSE NAME], [INSERT COURSE ASSIGNMENT] taught by [INSERT INSTRUCTOR’S NAME].PART IDirections: Using Microsoft® Word to save and submit your work, please provide detailed and elaborate responses to the following questions. Your responses should include examples from the reading assignments.1. What are the key steps in retirement planning?2. Why is retirement planning important?3. What are the possible sources of income for retirees?4. What is estate planning, and how does your personal situation affect that planning?5. Explain what a will is and what occurs at your death if you do not have one.6. What are some common reasons for setting up a trust?7. What types of housing options are available to retirees?8. What types of expenses might increase during retirement?9. How can retirees avoid housing traps?10. Explain the difference between a defined-contribution and defined-benefit plan.11. Describe some of the most common retirement misconceptions and explain what you should do if you hold to any of those misconceptions.12. What are the federal and state tax considerations in estate planning?13. How do wills and trusts help in planning your estate?PART IIWrite a 2-3 page, double-spaced paper in 12 pt. font answering the following question. Please use APA format.Using the Internet to Obtain Information about Wills. Visit Metropolitan Life Insurance Company’s web page at .lifeadvice.com/”>http://www.lifeadvice.com. Using this information, prepare a report on the following: (a) Who needs a will? (b) What are the elements of a will (naming a guardian, naming an executor, preparing a will, updating a will, estate taxes, where to keep your will, living will, and etc.)? (c) How is this report helpful in preparing your own will?