Exam 1: The Financial Planning Process

A well-educated and trained employee is virtually guaranteed job security by today's employers.Therefore,he or she doesn't need to worry about keeping his or her skills current.

What should you do with your goals on a frequent basis throughout your lifetime?

Salaries vary for individuals working in similar jobs for different companies,but one thing is clear: the more specialized skills and training a job requires,the higher the job tends to pay.

Describe the five steps in the personal financial planning process.

What elements are found in an effective financial plan?

What did the economic downturn that began in 2008 reveal about many Americans' financial concerns? How can you alleviate those concerns in your own personal financial planning?

Why should you prioritize your financial goals?

Financial planning is an ongoing process.As your financial situation and position in life change,the plan changes.

Proper financial planning can help you use your current income to achieve your long term financial goals

How will a financial plan help you save for retirement?

What piece of advice might you give to someone for whom the act of saving is an afterthought?

________ is the process of identifying a job that you feel is important and that will lead to the kind of lifestyle you desire.

Elaborate upon the four common concerns that should guide all financial plans.

If liquid funds are not available,an unexpected need,such as a job loss or injury may force you to

Maiko lost her job and she was forced to sell a rental property because she did not have other funds (liquid,emergency,etc)available to meet her financial obligations.What financial principle best applies to this situation?

According to a 2014 resumedoctor.com recruiting survey,the most common mistake made by job interviewees is

The concept that emphasizes that people should not put all their eggs in one basket is

Today,most Americans over the age of 65 have adequate savings and income available to them during retirement.

This course/text will assist you in accomplishing six financial objectives.What are they?

Give an example of a decision that might not be considered a financial decision but will have a major impact on your financial situation.