General Principles / Code of Ethics / Behavioral Finance Flashcards
1
Q
Repayment on federal student loans
A
Repayment on federal student loans generally does not begin until after you leave college or drop below half-time enrollment.
2
Q
Truth in Lending Act aka
A
Consumer Credit Protection Act
3
Q
Step 1 college calculation
A
Determine the cost of the first year of college
Solve for FV
“Inflate”
4
Q
Step 2 college calculation
A
Determine the amount that must be available when the child starts college
Real rate of return
Begin mode
Solve for PV
“I need”
5
Q
Step 3 college calculation
A
Determine how much the parents need to save
Solve for PV unless they ask how much they need annually
“Invest”
6
Q
A