FINANCE FINAL EXAM STUDY GUIDE LATEST 2026/2027 ACTUAL EXAM QUESTIONS WITH CORRECT ANSWERS 100% VERIFIED GRADED A+

FINANCE FINAL EXAM STUDY GUIDE
LATEST 2026/2027 ACTUAL EXAM
QUESTIONS WITH CORRECT
ANSWERS 100% VERIFIED GRADED
A+
1. Themgoalmofminvestingm$50mpermmonthmformthemnextm12myearsmformyourmnephew'smcollegem
fundmisma(n)m__________mgoal.m-mCORRECTmANSWERmLong-term



2. Themfirstmstepmofmthemfinancialmplanningmprocessmismtom-
mCORRECTmANSWERmDeterminemyourmcurrentmfinancialmsituation.




3. Purchasingmanmappliancemismanmexamplemofmamconsumable-productmgoal.m-
mCORRECTmANSWERmFalse




4. Asmborrowingmbymconsumersmandmbusinessesmincreases,minterestmratesmaremlikelymtomdecr
ease.m-mCORRECTmANSWERmFalse



5. Interestmearnedmismcalculatedmbymmultiplyingmthemprincipalmtimesmthemtimemvaluemofmmon
ey.m-mCORRECTmANSWERmFalse



6. Amfamilymwithm$80,000minmassetsmandm$48,000mofmliabilitiesmwouldmhavemamnetmworthmofm-
mCORRECTmANSWERm$32,000.




7. ThemRulemofm72mis:m-
mCORRECTmANSWERmUsedmtomestimatemhowmfastmpricesmwillmdoublemusingmamgivenmannua


lminflationmrate

,8. Tomdevelopmfinancialmgoals,monemshouldm-
mCORRECTmANSWERmIdentifymspecific,mrealisticmgoalsmthatmaremmeasurablemalongmwithmam


timemframemandmanmactionmplan



9. Givenmthemfollowingminformation,mcalculatemthemdebtmratiompercentage:m(Roundmyourmans
wermtom2mdecimalmplaces.)



10. Liabilitiesm=m$41,500
11. Liquidmassetsm=m$8,300
12. Monthlymcreditmpaymentsm=m$1,650
13. Monthlymsavingsm=m$1,270
14. Netmworthm=m$98,000
15. Take-homempaym=m$4,000
16. Grossmincomem=m$8,600
17. Monthlymexpensesm=m$5,440m-mCORRECTmANSWERm42.35%



18. Futuremvaluemcomputationsmaremoftenmreferredmtomasm-
mCORRECTmANSWERmCompounding.




19. Ifmam$10,000minvestmentmearnsmam7%mannualmreturn,mwhatmshouldmitsmvaluembemafterm6mye
ars?m-mCORRECTmANSWERm$15,010



20. Whichmofmthemfollowingmgoalsmwouldmbemthemeasiestmtomimplementmandmmeasure?m-
mCORRECTmANSWERmSavem$100mammonthmtomcreatemam$2,400memergencymfundminm2myear


s.



21. Intermediatemgoalsmaremusuallymachievedmwithinmthemnextmyearmormso.m-
mCORRECTmANSWERmFalse

, 22. Themstepminmthempersonalmfinancialmplanningmprocessmthatmfollowsmimmediatelymaftermthe
mstep:m"Createmandmimplementmyourmfinancialmactionmplan"mism-


mCORRECTmANSWERmReviewmandmrevisemthemfinancialmplan




23. Themmajormfunctionmofmpersonalmfinancialmplanningmismtom-
mCORRECTmANSWERmAchievempersonalmeconomicmsatisfaction.




24. JennifermRodriguezmplansmtomattendmgraduatemschoolminm5myears.mShemthinksmthatmshemwill
mneedmamtotalmofm$32,000mtompaymformschool,mandmshemwantsmtomsavemmoneymeachmmonth


mtomreachmhermgoal.mWhatmtypemofmcomputationmshouldmshemuse?m-


mCORRECTmANSWERmFuturemvaluemofmanmannuity




25. RebeccamWilsonmbudgetedm$1,262mformhousingmandmutilitiesminmJuly.mShemactuallymspentm$
1,180.mWhatmismhermbudgetmvariance?m-mCORRECTmANSWERm$82mSurplus



26. RhondamMillermwantsmtomtakemoutmam4myearmloanmtompurchasemamcar.mWhatmtypemofmcomp
utationmwouldmshemusemtomcalculatemhermmonthlympayments?m-
mCORRECTmANSWERmPresentmvaluemofmanmannuity




27. Short-termmgoalsmaremusuallymachievedmwithinmthreemyears.m-mCORRECTmANSWERmFalse



28. Plannedmspendingmthroughmbudgetingmismpartmofmthem"spending"mcomponentmofmfinancial
mplanningmactivities.m-mCORRECTmANSWERmFalse




29. Theremaremonlym3mmethodsmofmcalculatingmtimemvaluemofmmoney.m-
mCORRECTmANSWERmFalse




30. Themproblemmofmbankruptcymismassociatedmwithmoverusemandmmisusemofmcreditminmthem__
____________mcomponentmofmfinancialmplanning.m-mCORRECTmANSWERmBorrowing