Unformatted text preview: FP/101 Midterm Exam
First Name: KAYLA
Last Name: SUTTON
Confirmation #: 17894070
Total Questions: 30
Total Correct: 21
Start: 7/3/2011 1:18:31 PM
End: 7/3/2011 3:58:29 PM
Here is some additional information on items missed:
Question: What term is used to describe people beginning to spend their wealth in their retirement years?
Key Terms: Decumulating
Question: What is a personal cash flow statement?
Answer: A document that shows income and expenditures over a period of time.
Key Terms: Personal cash flow statement
Question: Which of the following is included in a typical financial plan?
Answer: An estate plan, including a will
Key Terms: Estate plans
Question: How might you use a personal balance sheet?
Answer: To calculate your net worth
Key Terms: Net worth
Question: Which of the following would be considered a savings alternative?
Answer: certificate of deposit
Key Terms: Certificate of deposit
Question: Where on your Personal Cash Flow Statement would you record money received when your rich uncle
Answer: In the cash inflow column
Key Terms: Personal Cash Flow Statement
Question: What are lenders evaluating when they review your sources of income and your expenses?
Key Terms: Financial capacity
Question: What information is needed to steal your identity?
Answer: Your Social Security number, name, and address
Key Terms: Credit card disadvantages
Question: What is the timeframe for contacting a lender to contest an error on a billing statement?
Answer: within 60 days
Key Terms: Billing errors
Sorry I didnt know that I had to turn this into the assignment link.
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