1 . Truly does financial planning have processes for every individual and household? Bogus
2 . Know very well what increased demand for a product will to prices.
Increased with regard to a product or service will usually result in affordable prices for the item false -higher prices to get the item
several. What is the main goal of financial planning.
The primary goal of private financial planning is:
A. saving and investing for upcoming needs.
M. reducing an individual's tax the liability.
C. obtaining personal economical satisfaction
G. spending to obtain financial objectives.
E. saving, spending, and borrowing depending on current demands.
4. What is causing higher prices.
Increased demand for a product or perhaps service will most likely result in
five. Know how very long it would take for prices to twice when offered an pumpiing rate. secret of 72 to find out how fast prices/savings will dual, use this by simply dividing seventy two by the total annual inflation/interest rate 6. Really know what the phases an individual goes thru based on age, financial needs and circumstance. analyzing your current financial position is a part of the 1st stage with the financial planning process true The periods that an individual goes through based upon age, economic needs, and family scenario is called the Adult your life cycle
six. What component of financial organizing is associated with bankruptcy. The problem of bankruptcy is associated with poor decisions in the Borrowing ____ element of financial preparing Chapter two
8. Which has less of a long term commitment, a job or career? A job tends to have got less of a long-term commitment to a field than a career. True 9. Can current business and economic reports be an indication of foreseeable future job require.
10. What employment placement is acquired mainly to earn money. thirty-three. (p. 42) A (n) ____________ is definitely an employment location that is received mainly to earn money. A. career
10. What does a chronological job application sequence?
A __________ job application presents someone's education, work experience, and other info in a change time sequence. Chronological doze. Understand what sort of influence is usually indicating jobs in the future when ever given a good example. 13. Precisely what is generally not included in a job application.
References are commonly not included on a résumé. The case
14. Find out factors that may affect job opportunities.
12-15. Do cash management actions refer to long-term investment decisions. Day to day
False Money administration activities refers to long-term expense decisions. T/F 16. What does a personal "balance sheet" report.
False A personal balance sheet reports your income and expenses. T/F A private balance sheet shows:
A. amounts budgeted for spending.
B. income and expenses for a time frame.
C. profits on financial savings and investments.
D. products owned and amounts due.
E. friends and family financial desired goals.
17. Precisely what is insolvency the result of.
True Insolvency is because of having more liabilities than assets. 18. What in the event you store in a safe deposit box.
False Financial information that may need to be referred to regularly should be retained in a safe-deposit box. T/F FalseMost income tax documents and records needs to be kept in a safe-deposit package. T/F Maggie wants to retail outlet a valuable gold coin collection and important papers. Generally, consumers should: Hire a safe put in box for his or her valuables
Which usually documents ought to be stored in a safe-deposit box?
Mortgage loan paperwork.
19. Learn how to calculate net worth.
20. The type of property is an IRA.
twenty-one. What is a budget deficit a result of.
57. (p. 93) A budget deficit might result every time a person's or perhaps family's: A. actual expenses are less than planned bills.
B. genuine expenses are greater than prepared expenses.
C. actual bills equal organized expenses.
D. assets go beyond liabilities.
22. Know what may affect your submitting status for taxes.
Someone�s filing position is affected by marital status and dependents. TRUE 3. What does a great...