I am looking for this quiz FP/101 Foundations of Personal Finance WEEK 9 QUIZ FINAL EXAM: New Week 9 Quiz/Final Exam 1. Which of the following is NOT a tax credit? a. Adoption tax credit b. Domestic tax credit c. Foreign tax credit d. Retirement tax credit 2. Which of the following is NOT accurate? a. A tax credit is the amount subtracted from the tax amount owed. b. A tax deduction is the amount subtracted from your adjusted gross income. c. An exclusion is an amount included in your adjusted gross income. d. An exemption is a deduction from your adjusted gross income. 3. Fred has been completing his own tax return for many years. The IRS has recently contacted him with questions about some of his prior returns. How many years back is he responsible for providing documentation? a. Until he files his returns b. 3 years c. 6 years d. 10 years 4. When are taxes due? a. April 1 b. April 29 c. Anytime in April d. April 15 5. Flat taxes are: a. Available to everyone not income based b. The higher income the higher interest rate c. Must be paid in full d. None of these 6. At the end of the year, employees receive a ________ form that reports annual earnings and the amounts deducted for taxes from their employers. a. 1040 b. 1099 c. W-2 d. W-4 7. The major sections of Form 1040 include all of the following except a. Filing status and exemptions b. Adjustments to income (AGI) c. Tax credits d. All of these are major sections of Form 1040. 8. Cameron, age 25, sustained a debilitating injury and was unable to perform his job for 45 days. His employer had a disability income insurance policy that pays 70% of take-home pay with an elimination period of 60 days and coverage up to age 65. Given this information, which of the following is true for Cameron? a. He will receive disability income for 15 days. b. He will receive disability income for 45 days. c. He will receive disability income for 60 days. d. He will not be eligible for any disability income because his disability ended before the elimination period ended. 9. SMART Goals contain all of the following except: a. Specific knowing exactly what the goals are and how to attain them b. Action Oriented the bases for the goals c. Manageable to be able to understand the written goals d. Time based the time frame needed to reach the goal 10. Rachel has a net monthly income of $2,500. She has a monthly auto payment of $275, a student loan payment of $150, and a minimum credit card payment of $50. What is her debt-payments-to-income ratio? a. 8% b. 13% c. 19% d. 22%