Identify the third step in the six step financial planning process:
The Financial Planning Environment, Phenomenon and Process

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Business
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University
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Medium
Safwan Mohd Nor
Used 11+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Establishing goals and objectives
Developing and presenting the plan.
Implementation of the plan
Analyzing the facts assembled
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Comprehensive financial planning involves the following except:
Taking the client’s interest as more important than the principal’s interest
It involves the presentation of the best plan as provided by the principal.
It studies the total financial position of the client
It integrates all strategies and methodologies into a cohesive plan
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The following are major components in financial planning covered by different RFP modules by MFPC, except:
Personal financial management – Module 1
Tax Planning – Module 3
Retirement Planning – Module 6
Estate Planning – Module 5
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Following are reasons why people fail to achieve their financial objectives, except:
People tend to procrastinate on non-urgent matters
People tend not to confront unpleasant realities
Many believe the future is best left to ‘God’ and fate
Financial goals requires discipline which is God-given
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Fact finding consists of both quantitative and qualitative data. Identify the wrong match.
Income – quantitative
Assets – quantitative
Risk profile – always quantitative
Net worth – quantitative
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements is/are true?
I. It is usual for financial planners to use a comprehensive approach.
II. Knowing the financial position of a client is important to achieve multiple goals
I only
II only
Neither
Both
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The concept of economic independence is reflected by which of the following statements:
I. Economic independence means your assets exceed your liabilities
II. Your active income is greater than your expenses
I only
II only
Neither
Both
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