Question 1

Which step has you to prepare a personal income statement?

Accepted Answer

A) Step 1 
B) Step 2 
C) Step 3 
D) Step 4 
A) Step 1 
B) Step 2 
C) Step 3 
D) Step 4

Question 2

A study conducted by the Society for Human Research Management found what percent of U.S.companies run credit background checks on potential employees.

Accepted Answer

A) 66% 
B) 15% 
C) 47% 
D) 32% 
A) 66% 
B) 15% 
C) 47% 
D) 32%

Question 3

List the ten principles of personal finance.

Accepted Answer

Principle 1: The best protection is know

Question 4

Being financially secure involves balancing what you earn with

Accepted Answer

A) your investments. 
B) what you spend. 
C) your retirement plans. 
D) your current level of debt. 
A) your investments. 
B) what you spend. 
C) your retirement plans. 
D) your current level of debt.

Question 5

The principle that considers the value of compound interest is the ________ principle.

Accepted Answer

A) all risk is not equal 
B) pay yourself first 
C) competitive inflation adjustment 
D) time value of money 
E) none of the above 
A) all risk is not equal 
B) pay yourself first 
C) competitive inflation adjustment 
D) time value of money 
E) none of the above

Question 6

The term that considers having money readily available when you need it is the concept of

Accepted Answer

A) flexibility. 
B) liquidity. 
C) equity. 
D) solvency. 
E) none of the above. 
A) flexibility. 
B) liquidity. 
C) equity. 
D) solvency. 
E) none of the above.

Question 7

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

Accepted Answer

A) Pay yourself first. 
B) Money isn't everything. 
C) Don't put all your eggs in one basket. 
D) None of the above. 
A) Pay yourself first. 
B) Money isn't everything. 
C) Don't put all your eggs in one basket. 
D) None of the above.

Question 8

The amount of current income that you earn today isn't relevant to setting your long term goals for the future.

Accepted Answer

A) True 
 B)False

Question 9

Many people who signed up for adjustable-rate mortgages during the sub-prime mortgage debacle were no longer able to afford their payments.Many of these people were misled by their lenders.Which financial principle from Chapter 1 most applies?

Accepted Answer

A) The best protection is knowledge. 
B) Mind games,financial personality,and your money 
C) Stuff happens,or the importance of liquidity. 
D) The time value of money 
A) The best protection is knowledge. 
B) Mind games,financial personality,and your money 
C) Stuff happens,or the importance of liquidity. 
D) The time value of money

Question 10

While each person's financial plan is different,some common factors guide all sound financial plans: flexibility,liquidity,protection,and minimization of taxes.

Accepted Answer

A) True 
 B)False

Question 11

Based on the Life Cycle of Financial Planning,when would be a good time to review and possibly adjust an effective financial plan?

Accepted Answer

A) A really effective financial plan doesn't need to be adjusted. 
B) When you get married 
C) When you have children 
D) When the stock market goes up 
E) Both B and C are correct answers. 
A) A really effective financial plan doesn't need to be adjusted. 
B) When you get married 
C) When you have children 
D) When the stock market goes up 
E) Both B and C are correct answers.

Question 12

Estate-planning tools such as wills,living wills,health proxies,powers of attorney,and record-keeping should all be in place to help protect you,your assets,and your heirs.

Accepted Answer

A) True 
 B)False

Question 13

The personal financial planning process consists of ________ steps.

Accepted Answer

A) three 
B) five 
C) seven 
D) ten 
A) three 
B) five 
C) seven 
D) ten

Question 14

What is the significance of the financial life cycle?

Accepted Answer

A) To help you to compare your situation with other people's situation 
B) To better understand how your financial needs will most likely change over time 
C) To allow you to be more proactive in dealing with expected changes in the future and take steps today to prepare for them 
D) To help you realize that your original plan is sufficient and doesn't need to change 
E) Both B and C are significant aspects of the financial life cycle. 
A) To help you to compare your situation with other people's situation 
B) To better understand how your financial needs will most likely change over time 
C) To allow you to be more proactive in dealing with expected changes in the future and take steps today to prepare for them 
D) To help you realize that your original plan is sufficient and doesn't need to change 
E) Both B and C are significant aspects of the financial life cycle.

Question 15

Which of the following is outlined in the text as reason(s)why many people do not have an adequate financial plan?

Accepted Answer

A) For most people it is easier to spend than save. 
B) Procrastination can affect everyone. 
C) Many of us lack the proper knowledge. 
D) There is never enough time for organizing and planning. 
E) All of the above are common excuses for not planning. 
A) For most people it is easier to spend than save. 
B) Procrastination can affect everyone. 
C) Many of us lack the proper knowledge. 
D) There is never enough time for organizing and planning. 
E) All of the above are common excuses for not planning.

Question 16

Which step has you to prepare a personal balance sheet?

Accepted Answer

A) Step 1 
B) Step 2 
C) Step 3 
D) Step 4 
A) Step 1 
B) Step 2 
C) Step 3 
D) Step 4

Question 17

The first steps in career planning are conducting a self-assessment and developing an understanding of what sort of lifestyle you wish to lead.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is one of the five basic steps in personal financial planning?

Accepted Answer

A) Evaluate your personal health. 
B) Define your career goals. 
C) Develop a plan of action. 
D) Let an accountant review your plan. 
A) Evaluate your personal health. 
B) Define your career goals. 
C) Develop a plan of action. 
D) Let an accountant review your plan.

Question 19

Once a sound financial plan is in place,there should be no need to ever change it.

Accepted Answer

A) True 
 B)False

Question 20

A study conducted by the Society for Human Research Management found what percent of U.S.companies run credit background checks on potential employees.

Accepted Answer

A) 66% 
B) 15% 
C) 47% 
D) 32% 
A) 66% 
B) 15% 
C) 47% 
D) 32%

Which step has you to prepare a personal income statement?

A study conducted by the Society for Human Research Management found what percent of U.S.companies run credit background checks on potential employees.

List the ten principles of personal finance.

Being financially secure involves balancing what you earn with

The principle that considers the value of compound interest is the ________ principle.

The term that considers having money readily available when you need it is the concept of

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

The amount of current income that you earn today isn't relevant to setting your long term goals for the future.

Many people who signed up for adjustable-rate mortgages during the sub-prime mortgage debacle were no longer able to afford their payments.Many of these people were misled by their lenders.Which financial principle from Chapter 1 most applies?

While each person's financial plan is different,some common factors guide all sound financial plans: flexibility,liquidity,protection,and minimization of taxes.

Based on the Life Cycle of Financial Planning,when would be a good time to review and possibly adjust an effective financial plan?

Estate-planning tools such as wills,living wills,health proxies,powers of attorney,and record-keeping should all be in place to help protect you,your assets,and your heirs.

The personal financial planning process consists of ________ steps.

What is the significance of the financial life cycle?

Which of the following is outlined in the text as reason(s)why many people do not have an adequate financial plan?

Which step has you to prepare a personal balance sheet?

The first steps in career planning are conducting a self-assessment and developing an understanding of what sort of lifestyle you wish to lead.

Which of the following is one of the five basic steps in personal financial planning?

Once a sound financial plan is in place,there should be no need to ever change it.

A study conducted by the Society for Human Research Management found what percent of U.S.companies run credit background checks on potential employees.

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

Financial Life Eventsfitting the Pieces Together

Filters

Exam 1: The Financial Planning Process

Which step has you to prepare a personal income statement?

A study conducted by the Society for Human Research Management found what percent of U.S.companies run credit background checks on potential employees.

List the ten principles of personal finance.

Being financially secure involves balancing what you earn with

The principle that considers the value of compound interest is the ________ principle.

The term that considers having money readily available when you need it is the concept of

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

The amount of current income that you earn today isn't relevant to setting your long term goals for the future.

Many people who signed up for adjustable-rate mortgages during the sub-prime mortgage debacle were no longer able to afford their payments.Many of these people were misled by their lenders.Which financial principle from Chapter 1 most applies?

While each person's financial plan is different,some common factors guide all sound financial plans: flexibility,liquidity,protection,and minimization of taxes.

Based on the Life Cycle of Financial Planning,when would be a good time to review and possibly adjust an effective financial plan?

Estate-planning tools such as wills,living wills,health proxies,powers of attorney,and record-keeping should all be in place to help protect you,your assets,and your heirs.

The personal financial planning process consists of ________ steps.

What is the significance of the financial life cycle?

Which of the following is outlined in the text as reason(s)why many people do not have an adequate financial plan?

Which step has you to prepare a personal balance sheet?

The first steps in career planning are conducting a self-assessment and developing an understanding of what sort of lifestyle you wish to lead.

Which of the following is one of the five basic steps in personal financial planning?

Once a sound financial plan is in place,there should be no need to ever change it.

A study conducted by the Society for Human Research Management found what percent of U.S.companies run credit background checks on potential employees.

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

Financial Life Eventsfitting the Pieces Together

Filters