Fp 101 midterm week 4

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Unformatted text preview: FP/101 Midterm Exam User: 9023153373 First Name: KAYLA Last Name: SUTTON Confirmation #: 17894070 Score: 70 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: Topic: Question: What term is used to describe people beginning to spend their wealth in their retirement years? Answer: decumulating Key Terms: Decumulating Topic: 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 Topic: Question: Which of the following is included in a typical financial plan? Answer: An estate plan, including a will Key Terms: Estate plans Topic: Question: How might you use a personal balance sheet? Answer: To calculate your net worth Key Terms: Net worth Topic: Question: Which of the following would be considered a savings alternative? Answer: certificate of deposit Key Terms: Certificate of deposit Topic: Question: Where on your Personal Cash Flow Statement would you record money received when your rich uncle dies? Answer: In the cash inflow column Key Terms: Personal Cash Flow Statement Topic: Question: What are lenders evaluating when they review your sources of income and your expenses? Answer: capacity Key Terms: Financial capacity Topic: Question: What information is needed to steal your identity? Answer: Your Social Security number, name, and address Key Terms: Credit card disadvantages Topic: 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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