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5 Written questions

5 Multiple choice questions

  1. -develop financial goals
    1. i.d. feelings about money and reasons for those feelings
    2. determine the effect of the economy on your goals and priorities
    3. make sure your goals are you own and specific to your situation
  2. -create and implement you action plan
    1. make sure you action plan will achieve your goals
  3. 1. consumer product goals (used up relatively quick)?
    2. durable produce goals (infrequently used)
    3. intangible goals ( health, edu, personal liesure)
  4. -the global market place
    -competition among domestic and foreign firms
    -balance of exports and imports
    -foreign investments and their role in money supply
    -level of money supply and its effects on interest
  5. -review and revise you plan;
    1. make to sure asses regularly at least once a year

4 True/False questions

  1. What is step 1 of the financial planning process?-determine current financial situation regarding
    1. income savings, living expenses, and debts
    2. prepare list of current assets and debt balances
    3. match financial goals to current income and planning potential


  2. What are SMART goals?1. short,intermediate, and long; s and i must coordinate with l


  3. What are some economic condition to consider in financial planning?-forces of supply and demand and prices
    -study of how wealth is created and distributed
    -different institutions in the economy
    -federal reserve bank


  4. What is step 4 of the financial planning process?-evaluate your alternatives
    1. know that your choice will always have consequences: opportunity cost and trade off
    2. there is always uncertainty in all choice; make sure to gather info from the correct source


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