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380FinalStudyGuide[1] - BUSN380 Personal Financial Planning...

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BUSN380 – Personal Financial Planning TCOs Covered: 1, 2, 3, 4, 5, 6, 7 Multiple Choice Question 32 ( 5 pts. Each) Short Essay Questions 13 ( 10 Pts. Each) Total Point Value: 290 Time Allowed _3.5_ hrs Other Study Tips:   Please review past quizzes and  your weekly homework  assignments.   
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ESSAY PART (130 Points): ( Each Essay Question is worth 10 points) TCO 1 – 2 Randomly Chosen Questions 10 pts each Time Value of Money definitions and calculations. Using time value of money tables, calculate: (Future value of a lump sum, Future value of a series of payments, Present value of a lump sum from the future, Present value of a series of payments) Net worth calculations Current ratio calculations Rule of 72 and doubling "Financial Planning Calculations" box on page 56 Risks are commonly associated with personal financial decisions Steps in the financial planning process Importance of a safe deposit box Borrowing and lending during high inflation periods Taxable income vs. tax-exempt benefit The budgeting process The main components of a personal balance sheet and a cash flow statement TCO 2 – 1 Randomly Chosen Questions 10 pts each Sources of assistance when completing a federal income tax return. Factors to consider when evaluating and comparing different savings plans Calculating tax returns ( receiving a refund or owing additional taxes) Calculating the average tax rate TCO 3 - – 3 Randomly Chosen Questions 10 pts each Calculating Debt Payments - to Income Ratio Calculating interest cost on a loan Advantages and disadvantages of consumer credit Debit/credit card fraud Shopping for credit Difference between simple and compound interest TCO 4– 2 Randomly Chosen Questions 10 pts each Time needed to recover the cost of refinancing a home Time value of money calculation on commission cost savings Replacement cost increases Medical cost after deductable and percentage coverage TCO 5– 2 Randomly Chosen Questions 10 pts each Asset allocation advantages Common stock for corporations and investors Explain U.S. government treasury bill, treasury note, and treasury bond Common stock and preferred stock Interest rates impact on corporate bonds Homeowner's insurance policy Strict and vicarious liability Disability income insurance Why Investors Purchase Bonds Calculating Rate of Return Determining Interest and Approximate Bond Value TCO 6 and 7– 3 Randomly Chosen Questions 10 pts each Calculating Net Asset Value Calculating the Rate of Return on Investment Steps in retirement planning
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