Chapter 1 Test A

Chapter 1 Test A - Chapter 1 Test A 1. Personal financial...

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1 Chapter 1 Test A 1. Personal financial management is important because it a. controls inflation b. limits consumption c. uses money as an end d. makes personal finance goals easier e. lessens economic differences among individuals 2. A ____ is a designation earned by financial planners after completing required courses of study. a. MBA b. LUTCF c. CFP d. E.A. e. CLU 3. The last step in the financial planning process is to a. develop financial plans and strategies to achieve goals b. use financial statements to evaluate results of plans and budgets, taking corrective action as required c. implement financial plans and strategies. d. redefine goals and revise plans and strategies as personal circumstances change e. periodically develop and implement budgets to monitor and control progress toward goals 4. A primary determinant of your quality of life is a. a tax bill b. tangible property c. wealth d. motivation e. income potential 5. Martha is 80 and has a very high net worth. Her most important financial concern is probably her a. career b. employee benefits c. estate d. insurance e. savings 6. ____ is the financial goal most people think is least important. a.
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Chapter 1 Test A - Chapter 1 Test A 1. Personal financial...

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