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5 Written questions

5 Multiple choice questions

  1. -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
  2. 1. consumer product goals (used up relatively quick)?
    2. durable produce goals (infrequently used)
    3. intangible goals ( health, edu, personal liesure)
  3. -review and revise you plan;
    1. make to sure asses regularly at least once a year
  4. -forces of supply and demand and prices
    -study of how wealth is created and distributed
    -different institutions in the economy
    -federal reserve bank
  5. -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

4 True/False questions

  1. What is step 2 of the financial planning process?-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. What are the 6 steps to the financial planning process?- identify alternative course of action
    1. consider possible courses of action
    2. creativity is vital success
    3. doing nothing is dangerous

          

  3. What is step 3 of the financial planning process?- identify alternative course of action
    1. consider possible courses of action
    2. creativity is vital success
    3. doing nothing is dangerous

          

  4. 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

          

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