CHAPTER 1 PERSONAL FINANCIAL
PLANNING EXAM QUESTIONS &
VERIFIED ANSWERS PASSED 100%
How much or how little a currency can buy is its
When currency has less value the economy is experiencing
When the value of currency increases, the economy is experiencing - Correct Answer
✔✔ 1.) purchasing power
2.) inflation
3.) deflation
Tomika and Bryon, who were introduced in this chapter's first section, will be affected by
which of the following individual or "micro" factors for their financial planning? Select all
that apply. - Correct Answer ✔✔ Credit and debt
Investing and retirement planning
Income and expenses
Cost of education
-It's common for parents to create a financial plan that helps to improve the lives of their
children by
-They also may choose to leave something to their children after their lifetime like a/an -
Correct Answer ✔✔ 1.) paying for their college education
2.) life insurance benefit
Which of the following are the steps you should take when gathering financial advice.
Select all that apply - Correct Answer ✔✔ -look objectively at you situation
-check the training and compensation of financial advisors
-diversify the sources of information you use
- reach out to family and friends
-when developing a financial plan, health issues play an important role. Long-term
health issues like
- and the need for
-must be taken into account. Life events like
-That occur in the near future should be factored in as well. - Correct Answer ✔✔ 1.) the
risk of chronic illness
2.) long term disability
3.) pregnancy
When working on you financial plan, its critical to weigh the benefits of various choices
against the types of costs. The
- Costs are direct expenses spent directly related to that choice. The
PLANNING EXAM QUESTIONS &
VERIFIED ANSWERS PASSED 100%
How much or how little a currency can buy is its
When currency has less value the economy is experiencing
When the value of currency increases, the economy is experiencing - Correct Answer
✔✔ 1.) purchasing power
2.) inflation
3.) deflation
Tomika and Bryon, who were introduced in this chapter's first section, will be affected by
which of the following individual or "micro" factors for their financial planning? Select all
that apply. - Correct Answer ✔✔ Credit and debt
Investing and retirement planning
Income and expenses
Cost of education
-It's common for parents to create a financial plan that helps to improve the lives of their
children by
-They also may choose to leave something to their children after their lifetime like a/an -
Correct Answer ✔✔ 1.) paying for their college education
2.) life insurance benefit
Which of the following are the steps you should take when gathering financial advice.
Select all that apply - Correct Answer ✔✔ -look objectively at you situation
-check the training and compensation of financial advisors
-diversify the sources of information you use
- reach out to family and friends
-when developing a financial plan, health issues play an important role. Long-term
health issues like
- and the need for
-must be taken into account. Life events like
-That occur in the near future should be factored in as well. - Correct Answer ✔✔ 1.) the
risk of chronic illness
2.) long term disability
3.) pregnancy
When working on you financial plan, its critical to weigh the benefits of various choices
against the types of costs. The
- Costs are direct expenses spent directly related to that choice. The
