Personal Finance Chapter 1 Quiz.docx - Personal Finance...

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Personal Finance – Chapter 1 Quiz Attempt 1 Written: Mar 25, 2018 11:17 AM - Mar 25, 2018 12:24 PM Submission View Your quiz has been submitted successfully. ection tion 1 1 / 1 point In order for your financial plan to be realistic and attainable it needs to be based upon your Question options: A) budget. B) income level. C) balance sheet. D) number of tax deductions, exemption, exclusions, and credits. E) none of the above stio 1 / poi Which one of the following is not one of the five basic steps in personal financial planning? Question options: A) Let an accountant review your plan. B) Implement your plan. C) Define your financial goals. D) Evaluate your financial health. ~ 1 ~
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Personal Finance – Chapter 1 Quiz E) Develop a plan of action. stio 1 / poi You need to review your progress, reevaluate, and revise your plan (step 5) because Question options: A) your financial needs change over your lifecycle. B) your family situation may change from time to time. C) your employment situation changes from time to time. D) your net worth will change over time. E) all of the above are good reasons to periodically review your financial plan. 1 / poi Step 3 of the personal financial planning process is to "Develop a Plan of Action." According to your text, which of the following is not one of the "common concerns" that should guide all financial plans? Question options: A) minimization of taxes B) liquidity C) protection D) long-term profitability E) flexibility 1 / ~ 2 ~
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Personal Finance – Chapter 1 Quiz poi The term that considers having money readily available when you need it is the concept of Question options: A) solvency.
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