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10/19/2018
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Course 712001- Financial Security for Women
  Final Exam
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712001v - Financial Security for Women

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Financial Planning
13 CPE Credit Hours

10/19/2018
Final Exam
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Read 'Chapter 1: Learn the Facts - and Myths - About Your Money' & answer the following question(s):
1. Financial planning is more important for men than women.
2. On average, women spend more time off the job than men because:
3. Typically, men are hurt more by corporate downsizing than women.
4. While half of all men over the age of 65 receive a pension, the number of women over the age 65 who receive a pension is:
5. According to the National Center for Health, women tend to outlive their male counterparts by an average of:
6. Ignorance is not bliss.
7. Your chances of becoming and staying financially successful can be significantly increased by reducing what you don't know that you don't know about money.
8. What determines your wealth is not how much money you make, but rather how much money you keep of what you make.
9. Over the course of their lifetimes, most Americans will earn:
10. According to Tom Stanley in, The Millionaire Next Door, the average millionaire's taxable income is:
11. Money myth No. 2 is: 'My husband (or some other man) will take care of me.'
12. The average income for a woman over 65 is less than $7000 per year.
13. Based on current rates of inflation, a dollar today will be worth 40 cents in 20 years.
Read 'Chapter 2: Put Your money Where Your Values Are' & answer the following question(s):
14. By discovering what is important about money to you, you in turn discover your values.
15. Money is merely a tool to help us achieve some particular goal.
16. The following is an example of a value (as opposed to a goal):
17. The following is an example of a goal (as opposed to a value):
Read 'Chapter 3: Figure Out Where You Stand Financially . . . And Where You Want to Go' & answer the following question(s):
18. In Pamela Gilberd's book, The Eleven Commandments of Wildly Successful Women, women who have achieved extraordinary success have this in common:
19. Developing 'definiteness of purpose' is the same as 'setting yourself specific goals'.
20. A goal that is not written down is a slogan.
21. When developing goals, you should take some immediate action within the next 48 hours.
22. Goals should be:
23. It's important to keep your goals to yourself so that others can't discourage you.
24. Designing a proactive life is synonymous with 'goal setting'.
25. Goals should fit in with your values.
26. According to Rule No. 7, you should review your goals at least once a month.
Read 'Chapter 4: Use the Power of the Latte Factor . . . How to Create Massive Wealth on Just a Few Dollars a Week!' & answer the following question(s):
27. In 2000, consumer debt hit a record $1.5 trillion.
28. The reason most people fail financially is because:
29. Women should save 12% of their gross income as opposed to a man's 10% because:
30. The first exercise in getting your spending under control is to estimate what you spend each month.
31. A 48 hour 'cooling off' period before making any purchase over $100 will give you a chance to decide rationally if the purchase is really necessary.
Read 'Chapter 5: Practice Grandma's Three-Basket Approach to Financial Security' & answer the following question(s):
32. Your security basket protects you and your family from the unexpected.
33. Your dream basket enables you to fulfill deeply held desires that make life worthwhile.
34. Your security basket may buy you the time you need to get back on your feet.
35. A properly funded living trust must always go through probate.
36. A revocable living trust:
37. The chief advantage to term insurance is that it allows you to build 'cash value'.
38. A type of permanent insurance is:
39. According to statistics, one out of every eight people will suffer a serious disability.
40. Medicare is meant to cover:
41. A defined contribution plan used to be known as a Keogh plan.
42. In 2006, the maximum allowable contribution to a traditional IRA for individuals 49 or younger is:
43. The current rule of thumb is that if you are more than ten years from retirement, you'll come out ahead with a Roth IRA as opposed to a traditional IRA.
44. For a business owner, the disadvantage of a SEP IRA is:
45. An advantage of a money-purchase plan over a SEP IRA is:
46. Rule No. 3 says it's wise to borrow from your retirement plan when you're using the proceeds to pay off credit card debt.
47. You should never ever put your IRA in the name of a trust or make your beneficiary of the IRA a trust because upon your death, your spouse loses the ability to do a spousal IRA rollover.
48. Advantages to investing in T-bills include:
49. Interest earned from municipal bonds is exempt from both state and federal income taxes.
50. Interest earned from these types of bonds is exempt from federal income tax:
51. The advantages of a variable annuity include;
52. During your first meeting with a financial planner, you should do most of the talking.
53. A U4 is a record kept by the National Association of Securities Dealers on every licensed financial professional in the US.
Read 'Chapter 6: Learn the 10 Biggest Mistakes Investors Make and How to Avoid Them' & answer the following question(s):
54. The first step in eliminating credit card debt is:
55. Mistake No. 4 is 'waiting to buy a house'.
56. Options allow you to speculate on the future price of a given stock.
57. An illiquid investment is an investment that you cannot sell immediately.
58. Mistake No. 10 is 'giving up'.
Read 'Chapter 7: Raising Smart Kids to Finish Rich' & answer the following question(s):
59. The key qualification(s) to set up an IRA for your teenage child is:
60. Unlike a Section 529 prepaid tuition plan, a Section 529 college savings plan requires you to select a specific college in a specific state at the time you set up the plan.
Read 'Chapter 8: Follow the 12 Commandments of Attracting Greater Wealth' & answer the following question(s):
Read 'Chapter 9: FinishRich Success Stories - Be Inspired!' & answer the following question(s):
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