Financial Plan

Financial Plan

Professional Development

10 Qs

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Financial Plan

Financial Plan

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Professional Development

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Created by

ANKIT WALIA

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10 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

People create and keep a personal budget to help them _____.

set and reach financial goals

apply for loan

buy anything they want

earn promotions at work

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

How do you begin your financial planning process

determine your current financial situation

identify your options

evaluate your alternatives

create a plan of action

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is an example of a SMART goal?

Purchasing a new 70-foot boat in 3 years

Starting a business in a few years that will generate $350,000

Saving $75,000 for the down payment on a home that will be purchased in 4 years

Retiring at the age of 70 with enough money to live comfortably

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

An emergency fund consists of how much money?

1 year of expenses

1 month of expenses

12 to 25 months of expenses

3 to 6 months of expenses

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is a budget?

detailed estimate of income and expenses

snapshot of the money coming in and going out

money set aside for unexpected events

money from earnings

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What role does ethics play in financial planning?

planners have a fiduciary responsibility to put their client's needs first

it helps you list assets and liabilities

it holds yourself accountable for decisions you make

morals have nothing to do with financial planning

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is retirement?

When a person no longer works

When a person is over 65

When a person holds themselves accountable for their financial decisions

a way to transfer the risk of loss

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