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5 Written questions

5 Multiple choice questions

  1. - identify alternative course of action
    1. consider possible courses of action
    2. creativity is vital success
    3. doing nothing is dangerous
  2. -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
  3. S Specific
    M Measurable
    A Attainable
    R Realistic
    T Time-bound
  4. -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
  5. -forces of supply and demand and prices
    -study of how wealth is created and distributed
    -different institutions in the economy
    -federal reserve bank

4 True/False questions

  1. What is step 6 of the financial planning process?-review and revise you plan;
    1. make to sure asses regularly at least once a year


  2. Your financial goals can be influence by what 2 things?1. the time frame in which you want to achieve you goals
    2. the financial need that drives you goals


  3. What are some global influences?-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


  4. What are some goals for different financial needs?1. consumer product goals (used up relatively quick)?
    2. durable produce goals (infrequently used)
    3. intangible goals ( health, edu, personal liesure)


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