I have an Online Final exam due this Thursday and it will be open all day it will be due at 8:00pm pacific time. It will have around 50 questions multiple choice. I need someone who has experience and is knowledable on SALARY AND UNDERSTANDING EMPLOYEE BENEFITS SUCH AS 401K, health insurance, Copay vs. deductible vs. coinsurance, retirment plan, FISCO SCORE, MANAGE DEBT. Be able to do some calculations: Below are 2 examples of what her exam wiill look like i have also attatched 2 SHORT in class powerpoints and 2 practice quizes that she provided so that we can use as a reference.
1. Mark (age 45) just bought his first house. He took out $10,000 from his traditional IRA to pay for down payment and closing costs. His income tax bracket is 30%. Which of the following statements regarding IRA with drawl is true?
a. He needs to pay $3,000 income tax for IRA withdrawl, but no penalty
b. He needs to pay $3,000 income tac for IRA withdrawl and $1,000 penalty
c. He needs to pay $1,000
d. He does not need to pay income tax or penalty.
2. Mark (age 45) has contributed $200,000 in his Roth IRA over the last 15 years. The investment in IRA has $100,000 earnings over the years. He wants to withdraw $100,000 from the Roth IRA to starts a business. His income tax bracket 30%. Which of the following statements are true?
a. He may withdraw $100,000 contributions, but he has to pay $30,000 income tax and $10,000 penalty
b. He may withdraw $100,000 contributions income tax-free and penalty free
c. He may withdraw $100,000 contributions income tax-free, but he has to pay $10,000 penalty
d. He may withdraw $100,000
–CH7 AND CH13 BANKRUPTCY
-FISCO BREAK DOWN
-HOW TO CHOOSE THE RIGHT CREDIT CARD.
-MORGAGE SALE AND FORCLOSURE
WHEN SHOULD YOU USE
-ADJUSTABLE RATE MORGAGE
30 YEAR MORTGAGE
-TOTAL INTREST PAYMENT
-ON HOW CERTAIN TYPE OF DEATH WILL NOT BE DICHAGRED IN BANKRUPTCY
-COMPARE DIFFERENT OFFERS BASED ON COST OF LIVNG
DIFFERENCE BETWEEN ADJUSTMENT FOR FEDERAL AND PAYROLLL TAX,
SOCIAL SECURITY WAGE
STATE TAX / FEDERAL INCOME TAX
GROUP TERM LIFE INSURANCE
401K (9 QUESTIONS)
-bE ABLE TO CALCULATIONS DATAS