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6/19/2013
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Course 171012- Personal Financial Planning for Accountants
  Final Exam
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171012v - Personal Financial Planning for Accountants

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Financial Planning
20 CPE Credit Hours
6/19/2013
Final Exam
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Read 'Chapter 1: What You Should Know About Financial Planning Chapter' & answer the following question(s):
1. Financial goals need not be specific.
2. Personal financial planning processes may include all except:
3. Effects of lowering the discount rate by the Federal Reserve can stimulate all except:
4. Financial planning for people over sixty should not include:
5. Personal financial management is important because it
6. Financial planning can help us to
7. The most important financial planning for young people concerns
8. Martha is 80; her most important financial plan would concern her
9. An unemployment rate of 8 percent would be indicative of
10. Inflation refers to
11. As the rate of inflation increases,
12. Financial goals should be
13. The first step in the financial planning process is to
Read 'Chapter 2: Basic Time Value Applications' & answer the following question(s):
14. Future (compound) value of money is important to consider in making decisions. T F
15. Your should consider the time value of money as an opportunity cost when you:
16. Future value tables are used to determine:
17. If you put $1,000 in a saving account and make no further deposits, what type of calculation would provide you with the value of the account in 20 years?
Read 'Chapter 3: Personal Financial Statements And Budgeting' & answer the following question(s):
18. The most liquid assets are real estate and bonds.
19. An abbreviated personal balance sheet would not include:
20. Liabilities do not include:
21. The balance sheet describes a family's wealth
22. The three parts of your balance sheet are
23. A budget is a
24. The main purpose of a budget is to
Read 'Chapter 4: Career Planning And Financial Success' & answer the following question(s):
25. Important occupational motivators include pay, fringe benefits, security, potential for advancement, recognition and learning opportunities. T F
26. The cost savings of working at home do not include:
27. Job hunting websites can include all except:
28. Employee benefits may include
Read 'Chapter 5: Planning For Your Children'S College Education' & answer the following question(s):
29. College-related costs include tuition, supplies and books only. T F
30. Top strategies to maximize aid eligibility do not include:
31. Federal government programs do not include:
32. To qualify for a Stafford loan, you must
33. Regarding student loans, which of the following is not true?
34. ____________ loans do not have to be repaid until after you graduate from college.
Read 'Chapter 6: The Return And Riskiness Of Your Investments' & answer the following question(s):
35. To be successful as an investor, you need an understanding of investment risk and realistic expectations of reward. T F
36. In deciding your risk tolerance you should not consider:
37. The investment vehicle with the highest risk and highest rate of return is:
38. Beta is a security’s volatility compared to an average security. A beta reading of zero (0) means:
39. Security investors incur varying degrees of risk. Business risk is related to
40. Companies with a great deal of long-term debt would rate fairly high in ____________ risk.
41. The returns you would expect from your investments could be
42. Risk and return are ___________ related.
Read 'Chapter 7: Banking And Cash Management' & answer the following question(s):
43. Banks you are dealing with make money off your lack of information about banking services. T F
44. Before you invest in CD’s you should consider:
45. Banking regulators include all except:
46. Banking tools (services) do not include:
47. Commercial banks are insured by the
Read 'Chapter 8: How To Take On And Manage Debt' & answer the following question(s):
48. Credit cards are the least expensive way of borrowing money. T F
49. Fair Credit Reporting affects your credit by releasing all the information except:
50. The elements of credit do not include:
51. A FICO Score or credit score that is computer generated and predicts a lenders risk, includes some of the following factors except for:
52. Most of the information in your credit file may be reported for only ______ years.
53. If you have a problem with your creditor, the best solution is to
54. A good rule of thumb is to limit consumer debt payments to
55. Your debt/equity ratio
Read 'Chapter 9: How To Determine And Save On The Costs Of Living' & answer the following question(s):
56. The areas to save money with an automobile include purchasing a used trade-in car.
57. The ways to improve gas mileage and reduce cost are to buy a small car, since it:
58. In leasing rules there are four basic components that are negotiable, except:
Read 'Chapter 10: Where And How You Choose To Live' & answer the following question(s):
59. Renting contributes to building your equity. T F
60. Closing costs do not include:
61. The pitfalls of an adjustable rate mortgage (ARM) can include:
62. _________ is a reason for owning your own home.
Read 'Chapter 11: Life, Health, And Property And Liability Insurance' & answer the following question(s):
63. Personal risks, property risks and liability risks are not insurable since they are speculative risks. T F
64. Preventive care provides check-ups, screening programs, diagnostic testing and immunization. T F
65. The most common risks can be classified as:
66. The features of term insurance can include all except:
67. Aspects of whole-life insurance do not include:
68. What should you consider when choosing an agent:
69. Medical and health insurance policies can include:
70. When you have to file a homeowner’s claim you should not:
71. An authoritative guide to the financial stability of the nation's insurers is published by
72. A standard HO policy covers damage from most weather-related perils except
Read 'Chapter 12: What You Should Know About Investments And Planning' & answer the following question(s):
73. The two basic kinds of investments are solvent and insolvent risks T F
74. Before getting started as an investor you should do all of the following except:
75. Sources of investment do not include:
76. An asset that is considered both highly marketable and highly liquid is:
77. _________ is an investment at risk with changing interest rates:
78. Investments not vulnerable to a changing economy are:
79. Buying on margin is buying
Read 'Chapter 13: Should You Invest In Common Stock?' & answer the following question(s):
80. Common stock is an equity investment that represents ownership in a business. T F
81. Among the benefits of owning common stock are:
82. Types of stock can not include:
83. ___________ is not the type of orders you may place for stock transactions:
84. What is your return on a stock if you buy a stock for $30 and sell it for $36, and the annual cash dividend is $2. Your return per share is:
85. You paid $80 for a stock currently worth $90, the dividend per share is $4. Your yield on the original price is:
86. Price-earnings ratio is affected by all except:
87. Good monetary indicators include:
88. Patsy Banz owns 220 shares of General Mills Corporation. For the last calendar quarter, General Mills Corporation paid $0.47 a share. What is the total amount she received in her dividend check for this quarter?
89. Market risk is often measured using
Read 'Chapter 14: Should You Invest In Fixed Income Securities?' & answer the following question(s):
90. Fixed income securities generally stress current fixed income and offer little or no opportunity for appreciation in value. T F
91. Examples of fixed income securities do not include:
92. Bonds have the following advantages except for:
93. Types of bonds do not include:
94. ________ is not one of basic factors to consider in selecting a bond:
95. Preferred stock, like a corporate bond, have the following features except that:
96. Other fixed income securities, often called short-term parking lots, include:
97. If a bond is purchased at a price above the face value, the yield to maturity is
98. John Smith is in the 28 percent tax bracket. If he were to purchase a $1,000 municipal bond that had a stated interest rate of 6.9%, the taxable equivalent yield would be
Read 'Chapter 15: Investing In Tangibles: Real Estate And Other Real Assets' & answer the following question(s):
99. Investing in tangibles such as real estate, precious metals, and collectibles is considered an inflation hedge. T F
100. REITs is another form of investment in government- backed bonds. T F
Read 'Chapter 16: Mutual Funds And Diversification' & answer the following question(s):
Read 'Chapter 17: How To Have Enough Money In Your Pension Plan When You Retire' & answer the following question(s):
Read 'Chapter 18: Estate Planning: Preserving Your Estate' & answer the following question(s):
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