Financial Literacy Quiz

What should you do with your financial goals annually?

• Ignore them

• Develop and revise them

• Spend them

• Calculate them

How often should you develop a spending plan and cash-flow statement?

• Annually

• Weekly

• Monthly

• Daily

What should you track and calculate annually to assess your financial progress?

• Expenses

• Income

• Net worth and financial ratios

• Savings

What is the process of developing and implementing a coordinated series of financial plans called?

• Budgeting

• Financial Planning

• Accounting

• Auditing

Which of the following is NOT included in financial planning?

• Plans for spending

• Plans for risk management

• Plans for capital accumulation

• Plans for marketing strategies

What does financial planning include?

• Plans for spending, risk management, and capital accumulation

• Plans for spending, marketing, and capital accumulation

• Plans for risk management, marketing, and capital accumulation

• Plans for spending, marketing, and risk management

Which of the following is NOT listed as an input in the financial planning process according to Figure 3-1?

• Values

• Advertising

• Needs

• Human resources

What is the ultimate goal of the managerial efforts in the financial planning process as shown in Figure 3-1?

• Living expenses

• Economic data

• Achievement of financial goals

• Standards of comparison

Which of the following is NOT a managerial effort listed in Figure 3-1?

• Planning

• Decision making

• Implementing

• Advertising

According to Figure 3-1, which of the following is considered an output in the financial planning process?

• Values

• Financial plans for spending

• Living expenses

• Standards of comparison