7/22/2024


Correct Answers 0
Total Questions 60
Score 0 %
Course # 712001
Financial Security for Women
based on the book:

Smart Women Finish Rich
by: David Bach ( 2002 )

13 CPE Credit Hours
Finance

A P E X C P E . C O M  . . . . .  1.877.317.9047  . . . . .  support@apexcpe.com


Chapter 1 - Learn the Facts - and Myths - About Your Money

1.    Financial planning is more important for men than women.   17
TRUE
FALSE
2.    On average, women spend more time off the job than men because:   18
discrimination causes women to be out of work more than men
child rearing reduces a woman's time on the job
caring for elderly parents often reduces a woman's time on the job
all of the above
3.    Typically, men are hurt more by corporate downsizing than women.   18
TRUE
FALSE
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:   18
one in three women
one in five women
one in ten women
none of the above
5.    According to the National Center for Health, women tend to outlive their male counterparts by an average of:   18
2 years
5 years
7 years
15 years
6.    Ignorance is not bliss.   19
TRUE
FALSE
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.   19
TRUE
FALSE
8.    What determines your wealth is not how much money you make, but rather how much money you keep of what you make.   20
TRUE
FALSE
9.    Over the course of their lifetimes, most Americans will earn:   21
less than $1 million
between $1 million and $3 million
between $3 million and $6 million
in excess of $6 million
10.    According to Tom Stanley in, The Millionaire Next Door, the average millionaire's taxable income is:   23
$131,000 per year
$500,000 per year
$2,000,000 per year
none of the above
11.    Money myth No. 2 is: 'My husband (or some other man) will take care of me.'   25
TRUE
FALSE
12.    The average income for a woman over 65 is less than $7000 per year.   26
TRUE
FALSE
13.    Based on current rates of inflation, a dollar today will be worth 40 cents in 20 years.   30
TRUE
FALSE


Chapter 2 - Put Your money Where Your Values Are

14.    By discovering what is important about money to you, you in turn discover your values.   41
TRUE
FALSE
15.    Money is merely a tool to help us achieve some particular goal.   41
TRUE
FALSE
16.    The following is an example of a value (as opposed to a goal):   51
travel
stay married
peace of mind
donate to charity
17.    The following is an example of a goal (as opposed to a value):   53
start my own business
gain security
make a difference
connect with others


Chapter 3 - Figure Out Where You Stand Financially . . . And Where You Want to Go

18.    In Pamela Gilberd's book, The Eleven Commandments of Wildly Successful Women, women who have achieved extraordinary success have this in common:   68
they all knew where they wanted to go
they had goals
they created their own plans and focused on making them happen
all of the above
19.    Developing 'definiteness of purpose' is the same as 'setting yourself specific goals'.   69
TRUE
FALSE
20.    A goal that is not written down is a slogan.   72
TRUE
FALSE
21.    When developing goals, you should take some immediate action within the next 48 hours.   73
TRUE
FALSE
22.    Goals should be:   73
specific
measurable
provable
all of the above
23.    It's important to keep your goals to yourself so that others can't discourage you.   74
TRUE
FALSE
24.    Designing a proactive life is synonymous with 'goal setting'.   80
TRUE
FALSE
25.    Goals should fit in with your values.   76
TRUE
FALSE
26.    According to Rule No. 7, you should review your goals at least once a month.   76
TRUE
FALSE


Chapter 4 - Use the Power of the Latte Factor . . . How to Create Massive Wealth on Just a Few Dollars a Week!

27.    In 2000, consumer debt hit a record $1.5 trillion.   88
TRUE
FALSE
28.    The reason most people fail financially is because:   88
their incomes are too small
they receive bad financial advise
their spending habits are too big
none of the above
29.    Women should save 12% of their gross income as opposed to a man's 10% because:   90
a woman's retirement tends to last 20% longer than a man's
women spend more than men
women tend to have less time until retirement than men do
all of the above
30.    The first exercise in getting your spending under control is to estimate what you spend each month.   95
TRUE
FALSE
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.   98
TRUE
FALSE


Chapter 5 - Practice Grandma's Three-Basket Approach to Financial Security

32.    Your security basket protects you and your family from the unexpected.   107
TRUE
FALSE
33.    Your dream basket enables you to fulfill deeply held desires that make life worthwhile.   107
TRUE
FALSE
34.    Your security basket may buy you the time you need to get back on your feet.   108
TRUE
FALSE
35.    A properly funded living trust must always go through probate.   112
TRUE
FALSE
36.    A revocable living trust:   113
must always go through probate
is difficult to set up
can be changed whenever you like throughout your lifetime
all of the above
37.    The chief advantage to term insurance is that it allows you to build 'cash value'.   124
TRUE
FALSE
38.    A type of permanent insurance is:   125
whole life
universal life
variable universal life
all of the above
39.    According to statistics, one out of every eight people will suffer a serious disability.   128
TRUE
FALSE
40.    Medicare is meant to cover:   133
acute care needs
custodial care
welfare recipients
all of the above
41.    A defined contribution plan used to be known as a Keogh plan.   139
TRUE
FALSE
42.    In 2006, the maximum allowable contribution to a traditional IRA for individuals 49 or younger is:   147
$3,000
$4,000
$4,500
$5,000
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.   147
TRUE
FALSE
44.    For a business owner, the disadvantage of a SEP IRA is:   151
it's difficult to set up
it requires tremendous paperwork
contributions made to employees are immediately 100% vested
all of the above
45.    An advantage of a money-purchase plan over a SEP IRA is:   152
with a money-purchase plan, you're allowed to create a vesting schedule for contributions to employees
your annual contribution is fixed with a money-purchase plan
a SEP IRA is easier to set up
all of the above
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.   166
TRUE
FALSE
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.   167
TRUE
FALSE
48.    Advantages to investing in T-bills include:   178
backing by the US government
exemption from state tax
liquidity
all of the above
49.    Interest earned from municipal bonds is exempt from both state and federal income taxes.   181
TRUE
FALSE
50.    Interest earned from these types of bonds is exempt from federal income tax:   181
treasury notes
corporate bonds
municipal bonds
all of the above
51.    The advantages of a variable annuity include;   194
tax deferred growth
no income limitations at purchase
guaranteed principal to beneficiaries
all of the above
52.    During your first meeting with a financial planner, you should do most of the talking.   200
TRUE
FALSE
53.    A U4 is a record kept by the National Association of Securities Dealers on every licensed financial professional in the US.   204
TRUE
FALSE


Chapter 6 - Learn the 10 Biggest Mistakes Investors Make and How to Avoid Them

54.    The first step in eliminating credit card debt is:   216
get help
cut up the cards
consolidate
none of the above
55.    Mistake No. 4 is 'waiting to buy a house'.   220
TRUE
FALSE
56.    Options allow you to speculate on the future price of a given stock.   224
TRUE
FALSE
57.    An illiquid investment is an investment that you cannot sell immediately.   230
TRUE
FALSE
58.    Mistake No. 10 is 'giving up'.   233
TRUE
FALSE


Chapter 7 - Raising Smart Kids to Finish Rich

59.    The key qualification(s) to set up an IRA for your teenage child is:   243
your child must have earned income
the IRA deposit in any given year cannot exceed the child's income in that year
neither are required
both are required
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.   254
TRUE
FALSE


Chapter 8 - Follow the 12 Commandments of Attracting Greater Wealth



Chapter 9 - FinishRich Success Stories - Be Inspired!


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