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INVEST IN JAMES BONDS
YOU BET YOUR LIFE INSURANCE
DEATH AND TAXES
ACRONYMS
EDUCATE YOURSELF
100
A bonds assumed par value amount
What is $1000?
100
What type of life insurance allows policy holders to adjust their payments.
What is Universal Life Insurance?
100
This amount of capital loss may be used to offset ordinary income in a tax year
What is $3000?
100
COP
What is Code of Procedure?
100
The maximum contribution without taxation in a 529 for a single individual is
What is $14000
200
This bond yield type never changes in value
What is a nominal yield?
200
This charge would be deducted from the value if the policy owner ended a policy within 8 years.
What is Surrender charge?
200
Don't get caught rebuying stocks you just sold within 30 days...the IRS would say you were caught in a ________
What is a wash sale?
200
JTWROS
What is Joint Tenants with Rights of Survivorship?
200
You contribute to this IRA post tax.
What is a ROTH IRA?
300
The form of bond that is owned by the person who possesses it.
What is Bearer Form Bonds?
300
This tax code allows for a tax free exchange of one life insurance policy to another.
What is 1035 Exchanges
300
Banks may take a loan from the federal reserve board through this structure.
What is a Discount Window?
300
SAI
What is Statement of Additional Information
300
DAILY DOUBLE! WORTH $600! This is the year tax laws created the education IRA.
What is 1997?
400
If a bonds basis decreases, what happens to the dollar price of that bond
What is "increases" or "goes up"?
400
This tax qualification applies to life insurance policies which have been funded with more money than is allowed under federal tax laws
What is Modified Endowment Contract (MEC)?
400
This is the bottom of an economy decline cycle..
What is trough?
400
AMT
What is Alternative Minimum Tax
400
If you work at a state or local government office...you are probably enrolled in the retirement plan.
What is a 457 Plan?
500
The typical use of this fund is to redeem to portion of a bond offering beginning a few years prior to maturity.
What is Sinking Call Fund?
500
This risk is assumed by the insurance company to provide the death benefit
What is Mortality Risk?
500
The difference between the value of exports and the value of imports for a country is known as.
What is Balance of Trade?
500
STRIPS
What is Separate Trading of Registered Interest and Principle Securities?
500
Individuals with an adjusted growth income of this value or less make convert an IRA to a ROTH IRA
What is $100,000