Certified Financial Planner Exam: Module

Certified Financial Planner Exam: Module

• Questions With Complete Solutions

Characteristics of a Pell Grant - Correct Answers ✅1.federal grant available to undergraduates only

• student who are less than full time receive a partial grant
• criteria for receipt are financial need and availability of

federal funds

• receipt of other grants and loans is sometimes contingent

upon applying for or receiving a Pell grant.Characteristics of SEOG Grant - Correct Answers ✅Supplement Educational Opportunity Grants

• Funded by federal government, administered by individual

schools

• available to both part-time and full-time undergraduates
• need-based grant
• TEACH Grant

Characteristics of TEACH Grant - Correct Answers ✅Teacher Education Assistance for College and Higher Education.

• Available for full-time undergraduate students
• applicants must agree to teach in specified schools and

programs.

• students enrolled less than full-time will have grant

amounts reduced 1 / 2

Certified Financial Planner Exam: Module

• Questions With Complete Solutions

Characteristics of a Perkins Loan - Correct Answers ✅1.

funded by federal government: administered by individual

schools

• available to graduate and undergraduate students
• available to half-time and full time students (a temporary

drop to part-time status may or may not require repayment to begin)

• need-based loan
• interest on loans is 5%, which is deferred during the period

of education

• repayment begins nine months following graducation

Characteristics of a Stafford Loan - Correct Answers ✅1.available to graduate and undergraduate students

• not necessarily need-based, but interest subsidies during

the period of schooling (and the six months following completions) are available for students demonstrating financial need.

• available for full-time students and for some students

enrolled in programs that take less than an academic year

• for reduced loan amount)
• loans are made by private lenders or the federal gov.
• interest rates are fixed at 6.80%
• repayment period is normally 10 years, but may be

extended

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