MCS 2100 Final Exam Summaries
MCS 2100 Final Exam Summaries

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University of Guelph
Marketing and Consumer Studies
MCS 2100
Rosemary Vanderhoeven

Personal Finance ManagementChapter SummariesMCS 2100 Winter 2013Contents Chapter 15 What You Should Focus on for the Exam5 Terms8 Chapter 39 What to focus on for the exam9 Common Goals of Tax Planning9 Income Tax Fundamentals10 Tax Deferral Techniques13 Income Splitting Techniques14 Chapter 414 What you should know for the exam14 Learning Objectives14 Managing Cash14 Types of Financial Services15 Types of Financial Institutions16 Deposittype institutions16 Nondeposit Institutions17 Selecting Payment Methods18 Key Terms19 Key Formulas19 Chapter 520 What is consumer credit20 Uses and Misuses of Credit20 Advantages of credit20 Disadvantages of credit20 Types of Credit20 Consumer loans20 Revolving Credit20 Consumer Loan Details20 Debt payment to income ratio 21 GDS and TDS Ratios21 Credit Ratings21 Terms21 Chapter 622 Sources of Consumer Credit22 The Cost of Credit22 Reducing Lender Risk23 Calculating loan payments23 Cost of Carrying Credit Card Balances23 Credit Insurance23 Managing Your Debt23 Fending off Bankruptcy Consolidation loans24 Bankruptcy And Insolvency Act24 Chapter 724 The Finance of Housing24 Evaluating Housing Alternatives24 Step 1 of HBP26 Step 2 of HBP27 Step 3 of HBP28 Step 4 of HBP28 Step 5 of HBP29 Chapter 830 What You Should Focus on for the Exam30 Risk management methods31 Planning an insurance program31 Property owners face two basic types of risk32 Homeowners insurance coverage32 Personal liability and related coverages32 Tenants insurance33 Motor vehicle coverages34 Automobile insurance premium factors34 Chapter 934 What to focus on for exam34
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