10 terms

ACC 200 Final Exam Review

ACC 200 at BYU Final Exam Review cards
What is the "main advantage" of a Traditional IRA compared to a Roth IRA?
With a traditional IRA, contributions are often tax deductible
What happens to you if you withdraw money from a Traditional IRA before age 59 ½ ?
The IRS will assess a penalty.
Are contributions to a Roth IRA tax deductible?
For an employee with a tax rate of 25%, how much is the short-term income tax savings that comes from a $3,000 contribution to a 401(k) account?
How large was the annualized return on investment that was promised to "upgraded" members of 12daily Pro?
"A fraudulent investment operation that pays returns to separate investors, not from any actual profit earned by the organization, but from their own money or money paid by subsequent investors." - What is this statement describing?
A Ponzi Scheme
What is the "better estimate" of how much was lost by the investors in Bernie Madoff's scheme?
Between $12 billion and $20 billion
What is the goal of a portfolio manager for an actively-managed fund?
Beat the market
Over a 3-year time horizon, what fraction of actively-managed funds beat the S&P 500 Index?
What is Baby Step #1 in Dave Ramsey's Seven Baby Steps to financial peace?
Put $1,000 in an emergency fund