prof financial planning

prof financial planning

University

25 Qs

quiz-placeholder

Similar activities

Unit 3.4 Final Acc (IBDP)

Unit 3.4 Final Acc (IBDP)

11th Grade - University

20 Qs

ST AKM 1 KP Y

ST AKM 1 KP Y

University

20 Qs

IFRS ENG Test 3

IFRS ENG Test 3

University

21 Qs

Accounting Quiz

Accounting Quiz

University

26 Qs

QUIZ 2 : TOPIC 8 [ACCOUNTING FOR INVENTORIES]

QUIZ 2 : TOPIC 8 [ACCOUNTING FOR INVENTORIES]

1st Grade - University

20 Qs

untitled

untitled

University

20 Qs

TFL615_week 9_Lunenburg & Ornstein_ch 10

TFL615_week 9_Lunenburg & Ornstein_ch 10

University

20 Qs

Finance

Finance

University

25 Qs

prof financial planning

prof financial planning

Assessment

Quiz

Education

University

Medium

Created by

kasey brown

Used 1+ times

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Rodney has $1000 in cash received as a graduation gift. He wants to invest these funds in a GIC that will pay him 4% per year compounded annually. He wants to use the money in 5 years as a down-payment on a new car. How much will Rodney have in 5 years for his down-payment?

800.00
1500.00
1000.00
1216.65

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Michelle is attending college and has a part time job. Once she finishes college, she would like to relocate to Toronto. She wants to build her savings so she has a "nest egg" to start her off. She can set aside $50/ month for savings in an account that will pay her 3% interest compounded annually. How much will Michelle's nest egg be in 5 years?

$2500.00

$3229.05

$3232.00
$1500.00

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Stacey would like to have $1,000,000 available to her when she retires. If she contributes $300 per month in an account that pays 4% interest compounded quarterly, how much will Stacey have when she retires in 30 years?

207723.41

$157456.51

$1,212,000

69,000

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An emergency fund is required in financial planning to

maintain adequate liquidity

eliminate the need for insurance
reduce savings for future investments
increase debt during emergencies

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

true or false

The value of what you own minus the value of what you owe is called your "net assets."

true
false

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

true or false

Money management decisions include deciding how much money to contribute to long term retirement savings.

true
false

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following financial planning steps should occur during the "prime earning" life stage?

 Paying off all debts

Reducing expenses without investing.
Saving only for short-term goals.

Creating a will and power of attorney

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?