Leo is ready to visit the bank with all the information that they requested. As a banker calculate his liquidity ration given the following info:...
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<br/> -Leo is ready to visit the bank with all the information that

they requested. As a banker calculate his liquidity ration given the following info: Home $600,000
Mortgage $475,000
Stocks $125,000
Savings account $20,000
Cash Account $2,500
Annual expenses $105,000
Car $25,000
Car loan $17,000

a. 2.35
b. 2.57
c. 3.35
d. 1.58
e. 2.12


2) Ilya believes that having a will is only for people who have assets to distribute to heirs. is this statement true or false.
a. True
b. False


3) budget planning represents the process ________ future expenses and savings.
a. investing
b. stabilizing
c. cashing-in
d. forecasting
e. compounding


4) Personal financial planning is the process of planning your ______ activities, while taking into account uncontrollable events such as death or disability, in order to optimize your financial situation. An understanding of personal finance enables you to make more informed decisions about your financial situation
a. investment and credit score
b.contribution and deduction
c. risk and strategic
d. spending and debt management
e. spending, financing and investing


5) Sachins bank just called as he submitted a bank application for a mortgage. Sachins gross annual income is $135,000. His monthly heating would be $475, condo fees of $750 per month, and annual property taxes would be $4,750. He also has monthly car payments of $750 and other monthly debt payments of $435. Given the bank has calculated his Total Gross Debt (GDS) ration is 31%, how much is his monthly mortgage payment?
a. $1,295
b. $1,057
c. $1,854
d. $1,564
e. $2,242


6) ___________ management deals with the decisions about how much credit you need to support your spending and which sources of credit to use.
a. Strategic
b. Risk
c. Credit
d. Budget
e. Investment

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