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Study sets matching "financial planning 1"

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Study sets matching "financial planning 1"

21 terms
BUSS1 Financial Planning
Profit
Costs
Revenue
Fixed Costs
Total Revenue - Total Costs
Expenditures made by a business during a trading period.
Selling Price x Number of Items Sold
Costs that do not change with he level of output or sales
Profit
Total Revenue - Total Costs
Costs
Expenditures made by a business during a trading period.
17 terms
Financial Planning
Revenue
Expenses
Budget
Start-up Budget
all income that a business receives over a period of time
costs of operating a business
detailed plans for the financial needs of a business
plans income and expenses from the beginning of a new busines…
Revenue
all income that a business receives over a period of time
Expenses
costs of operating a business
63 terms
Financial Planning Exam 1
Ask Price
Assets
Balance Sheet
Best Efforts Agreements
The lowest prices a seller is willing to accept
Items owned or property owned by a firm, household, or govern…
Financial statement that list (as of point in time) what an e…
No guarantee of public sales of securities, risk is with comp…
Ask Price
The lowest prices a seller is willing to accept
Assets
Items owned or property owned by a firm, household, or govern…
45 terms
Financial Planning Test 1
Ask Price
Assets
Balance sheet
Best Efforts Agreement
Prices quoted by marker makers at which they are willing to b…
Items or property owned by a firm, household, or government a…
Financial statement that enumerates (as of a point in time) w…
contract with an investment banker for the sale of securities…
Ask Price
Prices quoted by marker makers at which they are willing to b…
Assets
Items or property owned by a firm, household, or government a…
68 terms
Financial Planning Exam 1
balance sheet
assets
liabilities
equity
financial statement that enumerates (as of a point in time) w…
items or property owned by a firm, household or government an…
what an economic unit owes expressed in monetary terms
owners' investment in a firm; a firm books value or net worth
balance sheet
financial statement that enumerates (as of a point in time) w…
assets
items or property owned by a firm, household or government an…
93 terms
Financial Planning Exam 1
Ask Price
Assets
Balance Sheet
Best Efforts Agreement
the price at which a dealer or other trader will sell a secur…
Economic resources (items or property) owned by a firm.
A financial statement that reports assets, liabilities, and o…
Contract with an investment banker for the sale of securities…
Ask Price
the price at which a dealer or other trader will sell a secur…
Assets
Economic resources (items or property) owned by a firm.
49 terms
Financial Planning Test 1
Ask Price
Assets
Balance Sheet
Best efforts agreement
?
Items or property owned by a firm, household, or government a…
Financial Statement that enumerates (as of a point in time) w…
Contract with an investment banker for the sale of securities…
Ask Price
?
Assets
Items or property owned by a firm, household, or government a…
45 terms
Financial Planning - Exam #1
Balance Sheet
Assets
Liabilities
Equity
Financial statement that totals what an economic unit owns, o…
Items or property owned by a firm, household, or government a…
What an economic unit owes expressed in monetary terms
Owners' investment in a firm; a firm's book value or net worth
Balance Sheet
Financial statement that totals what an economic unit owns, o…
Assets
Items or property owned by a firm, household, or government a…
20 terms
Financial Planning Ch. 1
Future value
Present value
Demand
Inflation
The amount that your original deposit will be worth in the fu…
Amount of money you need to deposit now to attain a desired a…
Amounts of goods and services people are willing to buy
General rise in the level of prices for goods and services ov…
Future value
The amount that your original deposit will be worth in the fu…
Present value
Amount of money you need to deposit now to attain a desired a…
30 terms
BUSS1 Financial Planning
Profit
Costs
Revenue
Fixed Costs
Total Revenue - Total Costs
Expenditures made by a business during a trading period.
Selling Price x Number of Items Sold
Costs that do not change with he level of output or sales
Profit
Total Revenue - Total Costs
Costs
Expenditures made by a business during a trading period.
11 terms
Financial Planning D1
Pre-Tax Deductions
Budgeting
Ideal Budget
Savings
Income plus benefit packages ... 401k Contributions, Employer pa…
Statement of Cash Flow... Fixed vs. Variable Earnings... Needs vs.…
Fun- 10%... Savings- 15%... Foundation- 45%... Tax- 30%
CD's. Money Market, Safety, Low return, Emergency Funds
Pre-Tax Deductions
Income plus benefit packages ... 401k Contributions, Employer pa…
Budgeting
Statement of Cash Flow... Fixed vs. Variable Earnings... Needs vs.…
60 terms
Financial Planning 1-6
Balance Sheet
Assets
Liabilities
Equity
Financial Statement that enumerates(as of one point in time)…
Items or property owned by a firm, household, or government a…
What and economic unit owes expressed in monetary terms
Owner's investment in a firm; a firms book value or net worth
Balance Sheet
Financial Statement that enumerates(as of one point in time)…
Assets
Items or property owned by a firm, household, or government a…
22 terms
Financial Planning Unit 1
cost of living
financial independence
needs
risk tolerance
What it costs to live, on average, including the expenses for…
The ability of someone to manage his or her money in such a w…
Those things that are basic and necessary for a decent qualit…
The degree of uncertainty you can personally handle in regard…
cost of living
What it costs to live, on average, including the expenses for…
financial independence
The ability of someone to manage his or her money in such a w…
28 terms
Unit 1 Financial Planning
Advertising
Consequence
Consumer
Culture
To make something known generally or in public, especially in…
An often bad or inconvenient result of a particular action or…
A person who purchases and uses goods or services.
The way of life, especially the general customs and beliefs,…
Advertising
To make something known generally or in public, especially in…
Consequence
An often bad or inconvenient result of a particular action or…
71 terms
Exam 1 Financial Planning
Arbitrage
Ask price
Barter
Bid price
Simultaneous purchase of commodities, securities or bills of…
price requested by seller
exchange of goods or services without using money
price offered by potential buyer
Arbitrage
Simultaneous purchase of commodities, securities or bills of…
Ask price
price requested by seller
55 terms
Financial Planning Chapter 1
What is step 1 of the planning process?
What is step 2 of the planning process?
What is step 3 of the planning process?
What is step 4 of the planning process?
Set a Goal: identify something you want to achieve or obtain.
Acquire Knowledge: Gain an understanding of your goal and wha…
Compare Alternatives: Weight your options, which are differen…
Choose a Strategy: Select on option as the best plan of actio…
What is step 1 of the planning process?
Set a Goal: identify something you want to achieve or obtain.
What is step 2 of the planning process?
Acquire Knowledge: Gain an understanding of your goal and wha…
68 terms
Financial Planning Test 1
Arbitrage
Ask price
Bid
Spread
The simultaneous, or nearly simultaneous, purchasing of commo…
Price requested by the seller... Securities exchange
Price offered by a potential buyer
The difference between the higher ask and the lower bid... The…
Arbitrage
The simultaneous, or nearly simultaneous, purchasing of commo…
Ask price
Price requested by the seller... Securities exchange
49 terms
Financial Planning Exam 1
assets
balance sheet
best efforts agreement
bid price
items or property owned by a firm, household, or government a…
financial statement that enumerates (as of a point in time) w…
contract with an investment banker for the sale of securities…
prices quoted by market makers at which they are willing to b…
assets
items or property owned by a firm, household, or government a…
balance sheet
financial statement that enumerates (as of a point in time) w…
50 terms
Financial Planning Exam 1
ask price
assets
balance sheet
best efforts agreement
the lowest price a seller of a stock is willing to accept for…
something that has value, probable future benefit and is owne…
a state of the assets, liabilities, and capital of a business…
an agreement in which an underwriter promises to make a full-…
ask price
the lowest price a seller of a stock is willing to accept for…
assets
something that has value, probable future benefit and is owne…
46 terms
Financial Planning Exam 1
Mortgage Markets
Primary Markets
Secondary Markets
Federal Funds
where loans to purchase real estate (buildings and houses) ar…
where the initial offering or origination of debt and equity…
physical locations or electronic forum where debt (bonds and…
short-term loans, usually with maturities of one day to one w…
Mortgage Markets
where loans to purchase real estate (buildings and houses) ar…
Primary Markets
where the initial offering or origination of debt and equity…
16 terms
Financial Planning Test 1
6 steps in financial planning process
7 functional areas of financial planning
principles of CFP
types of relationships with clients
1. establish and define relationship... 2. gather client data... 3.…
insurance, credit/borrowing, savings, tax planning, retiremen…
1. integrity... 2. objectivity... 3. competence... 4. fairness... 5. conf…
consultation, modular, comprehensive (holistic)
6 steps in financial planning process
1. establish and define relationship... 2. gather client data... 3.…
7 functional areas of financial planning
insurance, credit/borrowing, savings, tax planning, retiremen…
8 terms
12-1 Financial Planning
revenue
expenses
profit
loss
All income a business receives
Costs of operating a business
the revenue is greater than the expenses
the expenses are greater than the revenue
revenue
All income a business receives
expenses
Costs of operating a business
142 terms
Financial Planning 1
Standard of Living is defined as the n…
Your average propensity to consume is…
A good financial plan completed when o…
Financial planning can improve your st…
True
True
False
True
Standard of Living is defined as the n…
True
Your average propensity to consume is…
True
48 terms
Financial Planning Ch. 1
Financial Literacy
Personal Finance
Financial Responsibility
Spend less...
knowledge of concepts, facts, principles, and technology tool…
the study of personal and family resources considered importa…
means that you are accountable for your future financial well…
save more and invest
Financial Literacy
knowledge of concepts, facts, principles, and technology tool…
Personal Finance
the study of personal and family resources considered importa…
22 terms
Financial planning list 1
amortization
bankruptcy
broker
claim
payment of a portion of the principial of a mortgage loan,red…
a legal process to get out of debt when you can no longer mak…
an individual or firm who acts as an intermediary between a b…
a formal request made to an insurance company for payment loss
amortization
payment of a portion of the principial of a mortgage loan,red…
bankruptcy
a legal process to get out of debt when you can no longer mak…
12 terms
Financial Planning Vocab 1
ACT
SAT
SAT Subject Tests
Early Action (EA)
A standardized college admission test. Features 4 sections: e…
The college board's standardized college admission test. Incl…
Hour long subject tests in english, history, math, science, o…
An option to submit your application before regular deadlines…
ACT
A standardized college admission test. Features 4 sections: e…
SAT
The college board's standardized college admission test. Incl…
23 terms
BUSS 1 - Financial Planning
price
total revenue
profit
Fixed Costs
amount a customer pays for a product
price per unit x quantity sold
TR - TC... or ... Total Contribution - Fixed Costs
costs that do not change directly with level of output (rent)
price
amount a customer pays for a product
total revenue
price per unit x quantity sold
20 terms
#1: Personal Financial Planning
personal financial planning
goals
values
opportunity costs
The process of managing your money to achieve personal econom…
A purpose/objective.
Beliefs of a person or social group in which they have an emo…
the most desirable alternative given up as the result of a de…
personal financial planning
The process of managing your money to achieve personal econom…
goals
A purpose/objective.
62 terms
Financial Planning Exam 1
ask price
assets
balance sheet
best efforts agreement
the lowest price a seller of a stock is willing to accept for…
OWNS; something that has value, probable future benefit and i…
financial statement that enumerates what an economic unit own…
an agreement in which an underwriter promises to make a full-…
ask price
the lowest price a seller of a stock is willing to accept for…
assets
OWNS; something that has value, probable future benefit and i…
Financial Planning Vocab 1
ACT
SAT
SAT Subject Tests
Early Action (EA)
A standardized college admission test. It features four main…
The College Board's standardized college admission test. It f…
Hour-long, content-based college admission tests that allow y…
An option to submit your applications before the regular dead…
ACT
A standardized college admission test. It features four main…
SAT
The College Board's standardized college admission test. It f…
22 terms
Financial planning #1
Amortization
Bankruptcy
Broker
Claim
Payment of a portion of the principal of a mortgage loan
A legal process to get out of debt whwnyou cant make required…
An individual or firm that acts as an intermediary between a…
A formal request made to an insurance company for payment for…
Amortization
Payment of a portion of the principal of a mortgage loan
Bankruptcy
A legal process to get out of debt whwnyou cant make required…
29 terms
Financial Planning Prelim 1
How long to keep income tax returns?
Insolvent:
Personal Asset Valuation
Upper limit for Mortgage Debt Service
6 years
Assets < Liabilities --> Inability to pay debts
Use Market Value
33% of annual income
How long to keep income tax returns?
6 years
Insolvent:
Assets < Liabilities --> Inability to pay debts
12 terms
Financial Planning #1
ACT
SAT
SAT Subject Tests
Early Action (EA)
A standardized college admission test. It features four main…
The College Board's standardized college admission test. It f…
Hour-long, content-based college admission tests that allow y…
An option to submit your applications before the regular dead…
ACT
A standardized college admission test. It features four main…
SAT
The College Board's standardized college admission test. It f…
6 terms
12.1 Financial Planning
revenue
expenses
budget
start-up budget
all income that a business recieves over a period of time
the costs of operating a business.
provides detailed plans for the financial needs of individual…
plans income and exposes from the beginning of a new business…
revenue
all income that a business recieves over a period of time
expenses
the costs of operating a business.
17 terms
BUSS1: Financial planning
Price
Total revenue
Profit
Fixed costs
The amount paid by a consumer to purchase one unit of a product
The income received from an organisation's activities
The difference between the income of a business and its total…
Costs that do not change directly with output in the short ru…
Price
The amount paid by a consumer to purchase one unit of a product
Total revenue
The income received from an organisation's activities
22 terms
BUSS1 FINANCIAL PLANNING
Price
Total Revenue
Profit
Fixed Costs
The amount paid by a consumer to purchase one unit of a produ…
The income received from an organisation's activities ... price…
Difference between income of a business and its total costs.…
Costs that vary directly with output in the short run (e.g. r…
Price
The amount paid by a consumer to purchase one unit of a produ…
Total Revenue
The income received from an organisation's activities ... price…
40 terms
Financial Planning Test #1
If you do not wish to itemize your ded…
Typical adjustments to gross income on…
A capital gain is the result of
How much social security tax will be p…
Standard Deviation
Alimony
Selling it for more than you paid for it
It is the same
If you do not wish to itemize your ded…
Standard Deviation
Typical adjustments to gross income on…
Alimony
69 terms
Financial Planning 1
Financial services moving from product…
Role of advisor has changed in two ways:
How to Provide Full Service
Financial Planning 6 Steps
Product driven: engages with client to sell products... Client d…
Regulations, Technology
1 Assess Client's Financial Situation... 2 Define and Prioritize…
1 Establishing client/advisor relationship... 2 Collect Data and…
Financial services moving from product…
Product driven: engages with client to sell products... Client d…
Role of advisor has changed in two ways:
Regulations, Technology
Financial Planning Unit 1
Career Cluster
Employment Agency
Fringe Benefits
Occupational Outlook Handbook
is a way to narrow in career choices
an agency that finds employers or employees for those seeking…
an extra benefit supplementing an employee's salary, health i…
book put out by the government and tells you what you earn in…
Career Cluster
is a way to narrow in career choices
Employment Agency
an agency that finds employers or employees for those seeking…
26 terms
chapter 1 financial planning
opportunity cost
Inflation
Liquidity
Annuity
The trade-off when you make one choice over another
The rise in the cost of good and services over time
The ability to easily convert financial resources into cash q…
A series of equal deposits
opportunity cost
The trade-off when you make one choice over another
Inflation
The rise in the cost of good and services over time
14 terms
Financial Planning Chapter 1
Six Step Financial Planning Process
The role of money
Target Dates
Plans to achieve your financial goals
1. Define financial goals... 2. Develop financial plans and stra…
-The medium of exchange used to measure value... -Utility: amoun…
-Long term: 6 years... -Intermediate-term: the next 2-5 years... -S…
-Asset acquisition planning... -Liability and insurance planning…
Six Step Financial Planning Process
1. Define financial goals... 2. Develop financial plans and stra…
The role of money
-The medium of exchange used to measure value... -Utility: amoun…
23 terms
Topic 1: Financial Planning
gross domestic product
leading economic indicators (LEI)
real income
consumer price index
The broadest measure of economic health of the nation because…
composite index reported monthly by the Conference Board that…
actual buying power of one's nominal income available to spen…
monthly measure of inflation which broadly measures changes i…
gross domestic product
The broadest measure of economic health of the nation because…
leading economic indicators (LEI)
composite index reported monthly by the Conference Board that…
55 terms
Financial Planning 1
Ask Price
Assets
Balance Sheet
Best efforts agreement
...
Items or property owned by a firm, household, or government a…
Financial statement that enumerates (as of a point in time) w…
Contract with an investment banker for the sale of securities…
Ask Price
...
Assets
Items or property owned by a firm, household, or government a…
61 terms
Exam 1 - Financial Planning
Financial planning process
goals should be..
goals come from your ___
shows assets and liabilities as/of a s…
1. establish goals... 2. analyze current financial position... 3. i…
measurable... realistic ... specific
values
balance sheet
Financial planning process
1. establish goals... 2. analyze current financial position... 3. i…
goals should be..
measurable... realistic ... specific
15 terms
Financial Planning 1
Products MIFID follow CPC (4)
Headings for Income tax calculation
Claim to augmented pension
Reasons to review clients portfolio
Insurance, Deposits, Prsas, Tracker bonds. Banks the same
1) Assume joint assessment , 2) For calc of gross income. 3)…
Not given when the augmentation happened after the PAO was gr…
1) Ensure funds chosen still appropriate 2) Review performanc…
Products MIFID follow CPC (4)
Insurance, Deposits, Prsas, Tracker bonds. Banks the same
Headings for Income tax calculation
1) Assume joint assessment , 2) For calc of gross income. 3)…
57 terms
financial planning exam #1
Ask price
Assets
Balance sheet
Best efforts agreement
The price that the dealer will ask for when he resells the pr…
Items or property owned by a firm, household, or a government…
Financial statement that enumerates (as a point in time) what…
Contract with an investment banker for the sale of securities…
Ask price
The price that the dealer will ask for when he resells the pr…
Assets
Items or property owned by a firm, household, or a government…
29 terms
Financial Planning Test #1
Give a passage of scripture where the…
Defend the statement how money is mana…
What are the three areas of a persons…
explain why it is important for a pers…
1 Timothy 6:17
A person who makes a lot of money may actually end up with le…
Quality of Marriage... Health... Job Performance
.
Give a passage of scripture where the…
1 Timothy 6:17
Defend the statement how money is mana…
A person who makes a lot of money may actually end up with le…
31 terms
Ch. 1 Financial Planning
5 steps in personal financial planning
why make financial plans
definition of best plan
4 questions to ask yourself when exami…
1. Evaluate your current financial condition... 2. Define your f…
budget for unexpected future events... afford big events-wedding…
the one that moves you to your goals
what do you own (assets)... owe (liabilities)... earn (income)... spen…
5 steps in personal financial planning
1. Evaluate your current financial condition... 2. Define your f…
why make financial plans
budget for unexpected future events... afford big events-wedding…
58 terms
Financial Planning Chapter 1
Standard of Living is defined as the n…
Your average propensity to consume is…
A good financial plan completed when o…
Financial planning can improve your st…
True
True
False
True
Standard of Living is defined as the n…
True
Your average propensity to consume is…
True
185 terms
Financial planning Test 1
how well you can understand and use pe…
measured by adding up how much america…
the largest part of GDP is
nearly two thirds of GDP is made up of…
financial literacy
GDP
consumer spending
you buy
how well you can understand and use pe…
financial literacy
measured by adding up how much america…
GDP
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