Question 1

Part of the getting started stage is to begin saving for your goals.What are the critical steps to doing so?

Accepted Answer

A) Make savings automatic. 
B) Live within your means. 
C) Catch your matches. 
D) All of the above are correct. 
E) Only A and C are correct. 
A) Make savings automatic. 
B) Live within your means. 
C) Catch your matches. 
D) All of the above are correct. 
E) Only A and C are correct.

Question 2

Only people 40 years or older should max out their retirement contributions at work.

Accepted Answer

A) True 
 B)False

Question 3

Tracking your spending for a month or so will help you plan savings.

Accepted Answer

A) True 
 B)False

Question 4

List the 10 'ingredients' in order to succeed financially.

Accepted Answer

- Evaluate your financial health.
- Plan

Question 5

The interest on your mortgage is generally tax deductible and this tax benefit should be considered when determining which type of debt you should use.

Accepted Answer

A) True 
 B)False

Question 6

How can someone plan for a major illness?

Accepted Answer

Part of financial planning is being prep

Question 7

Medical insurance can keep medical expenses from becoming a catastrophic financial event.

Accepted Answer

A) True 
 B)False

Question 8

According to U.S.News and World Reports,the required investment for a medium income family to raise and support a child for 22 years is approximately

Accepted Answer

A) $52,000. 
B) $197,704. 
C) $1,000,000. 
D) $1,450,000. 
E) $3,000,000. 
A) $52,000. 
B) $197,704. 
C) $1,000,000. 
D) $1,450,000. 
E) $3,000,000.

Question 9

There are always positive things you can do to change your credit score so it is worth the time to try and manage it.

Accepted Answer

A) True 
 B)False

Question 10

A budget is essential for a recent college graduate with no dependents.

Accepted Answer

A) True 
 B)False

Question 11

What challenges to personal financial planning does marriage present?

Accepted Answer

A) Setting common goals 
B) Establishing a common household budget 
C) Asset ownership and estate planning 
D) All of the above are correct. 
E) Only B and C are correct. 
A) Setting common goals 
B) Establishing a common household budget 
C) Asset ownership and estate planning 
D) All of the above are correct. 
E) Only B and C are correct.

Question 12

What is a smart thing for married women to do regarding their personal financial situation?

Accepted Answer

A) Make sure their plan recognizes that women live longer than men and that half of all marriages end in divorce. 
B) Be involved in decisions regarding their husband's employee benefits and retirement plans. 
C) See a financial planner about any specific concerns. 
D) All of the above are correct. 
E) Only A and C are correct. 
A) Make sure their plan recognizes that women live longer than men and that half of all marriages end in divorce. 
B) Be involved in decisions regarding their husband's employee benefits and retirement plans. 
C) See a financial planner about any specific concerns. 
D) All of the above are correct. 
E) Only A and C are correct.

Question 13

The best investment advice for younger people is to be conservative and avoid risk.

Accepted Answer

A) True 
 B)False

Question 14

According to your text,is it recommended that couples have a joint credit card or not?

Accepted Answer

A) No,it is best for couples to have their own credit cards. 
B) Yes,it is important for couples to have joint credit cards. 
A) No,it is best for couples to have their own credit cards. 
B) Yes,it is important for couples to have joint credit cards.

Question 15

Living below your means leads to a harsh,barren lifestyle with little or no pleasure in life.

Accepted Answer

A) True 
 B)False

Question 16

Women are more likely to have a pension than men.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is considered to be a key element to effective debt management?

Accepted Answer

A) Know and understand the costs of debt. 
B) Complete a budget: always spend more than you earn. 
C) Take the largest possible loan you can obtain. 
D) Accept credit whenever it is offered. 
E) None of the above 
A) Know and understand the costs of debt. 
B) Complete a budget: always spend more than you earn. 
C) Take the largest possible loan you can obtain. 
D) Accept credit whenever it is offered. 
E) None of the above

Question 18

The key to keeping the cost of home and auto insurance down is to keep your deductibles as high as you can afford.

Accepted Answer

A) True 
 B)False

Question 19

According to your textbook,which is a typical financial event that recent graduates may face during their first decade out of college?

Accepted Answer

A) Buying a car 
B) Establishing credit 
C) Paying taxes 
D) Repaying student loans 
E) All of the above 
A) Buying a car 
B) Establishing credit 
C) Paying taxes 
D) Repaying student loans 
E) All of the above

Question 20

List the main "life events" as discussed in your textbook.

Accepted Answer

1.Getting started
2.Marriage
3

Part of the getting started stage is to begin saving for your goals.What are the critical steps to doing so?

Only people 40 years or older should max out their retirement contributions at work.

Tracking your spending for a month or so will help you plan savings.

List the 10 'ingredients' in order to succeed financially.

The interest on your mortgage is generally tax deductible and this tax benefit should be considered when determining which type of debt you should use.

How can someone plan for a major illness?

Medical insurance can keep medical expenses from becoming a catastrophic financial event.

According to U.S.News and World Reports,the required investment for a medium income family to raise and support a child for 22 years is approximately

There are always positive things you can do to change your credit score so it is worth the time to try and manage it.

A budget is essential for a recent college graduate with no dependents.

What challenges to personal financial planning does marriage present?

What is a smart thing for married women to do regarding their personal financial situation?

The best investment advice for younger people is to be conservative and avoid risk.

According to your text,is it recommended that couples have a joint credit card or not?

Living below your means leads to a harsh,barren lifestyle with little or no pleasure in life.

Women are more likely to have a pension than men.

Which of the following is considered to be a key element to effective debt management?

The key to keeping the cost of home and auto insurance down is to keep your deductibles as high as you can afford.

According to your textbook,which is a typical financial event that recent graduates may face during their first decade out of college?

List the main "life events" as discussed in your textbook.

The Financial Planning Process

Measuring Your Financial Health and Making a Plan

Understanding and Appreciating the Time Value of Money

Tax Planning and Strategies

Cash or Liquid Asset Management

Using Credit Cards: the Role of Open Credit

Student and Consumer Loans: the Role of Planned Borrowing

The Home and Automobile Decision

Life and Health Insurance

Property and Liability Insurance

Investment Basics

Investing in Stocks

Investing in Bonds and Other Alternatives

Mutual Funds: an Easy Way to Diversify

Retirement Planning

Estate Planning: Saving Your Heirs Money and Headaches

Filters

Exam 17: Financial Life Eventsfitting the Pieces Together

Part of the getting started stage is to begin saving for your goals.What are the critical steps to doing so?

Only people 40 years or older should max out their retirement contributions at work.

Tracking your spending for a month or so will help you plan savings.

List the 10 'ingredients' in order to succeed financially.

The interest on your mortgage is generally tax deductible and this tax benefit should be considered when determining which type of debt you should use.

How can someone plan for a major illness?

Medical insurance can keep medical expenses from becoming a catastrophic financial event.

According to U.S.News and World Reports,the required investment for a medium income family to raise and support a child for 22 years is approximately

There are always positive things you can do to change your credit score so it is worth the time to try and manage it.

A budget is essential for a recent college graduate with no dependents.

What challenges to personal financial planning does marriage present?

What is a smart thing for married women to do regarding their personal financial situation?

The best investment advice for younger people is to be conservative and avoid risk.

According to your text,is it recommended that couples have a joint credit card or not?

Living below your means leads to a harsh,barren lifestyle with little or no pleasure in life.

Women are more likely to have a pension than men.

Which of the following is considered to be a key element to effective debt management?

The key to keeping the cost of home and auto insurance down is to keep your deductibles as high as you can afford.

According to your textbook,which is a typical financial event that recent graduates may face during their first decade out of college?

List the main "life events" as discussed in your textbook.

The Financial Planning Process

Measuring Your Financial Health and Making a Plan

Understanding and Appreciating the Time Value of Money

Tax Planning and Strategies

Cash or Liquid Asset Management

Using Credit Cards: the Role of Open Credit

Student and Consumer Loans: the Role of Planned Borrowing

The Home and Automobile Decision

Life and Health Insurance

Property and Liability Insurance

Investment Basics

Investing in Stocks

Investing in Bonds and Other Alternatives

Mutual Funds: an Easy Way to Diversify

Retirement Planning

Estate Planning: Saving Your Heirs Money and Headaches

Filters