Q1 T1

Topics: Cash flow, Investment, Balance sheet Pages: 18 (984 words) Published: April 21, 2015

(TCO 1) A(n) _____ summarizes your current financial situation, analyzes your financial  needs, and recommends a direction for your financial activities.

 
Student Answer:

 insurance prospectus
 

 statement
 

 budget
 

 investment forecast
 

 financial plan
 
Instructor Explanation:
Chapter 1, page 24

 
Points Received:
0 of 1
 
Comments:

 2.
Question :
(TCO 1) In financial planning, a major activity component involves the

 
Student Answer:

 allocation of current resources for spending.
 

 evaluation of investment alternatives.
 

 evaluation of one's career.
 

 selection of insurance coverage.
 

 establishment of credit.
 
Instructor Explanation:
Chapter 1, pages 2-3

 
Points Received:
1 of 1
 
Comments:

 3.
Question :
(TCO 1) Higher interest rates can be caused by

 
Student Answer:

 increased saving and investing by consumers.
 

 an increase in the money supply.
 

 a decrease in consumer borrowing.
 

 lower government spending.
 

 a lower money supply.
 
Instructor Explanation:
Chapter 1, page 13

 
Points Received:
0 of 1
 
Comments:

 4.
Question :
(TCO 1) As Jean Tyler plans to set aside funds for her young children's college education,  she is setting a(n) _____ goal.

 
Student Answer:

 intermediate
 

 long-term
 

 short-term
 

 intangible
 

 durable
 
Instructor Explanation:
Chapter 1, page 8

 
Points Received:
1 of 1
 
Comments:

 5.
Question :
(TCO 1) If you want your money to double in 12 years, what rate of return would you  need to earn?

 
Student Answer:

 6%
 

 8%
 

 9%
 

 10%
 

 12%
 
Instructor Explanation:
Chapter 1, page 13

 
Points Received:
1 of 1
 
Comments:

 6.
Question :
(TCO 1) With an inflation rate of 8%, prices would double in about _____ years.

 
Student Answer:

 10
 

 6
 

 8
 

 9
 

 12
 
Instructor Explanation:
Chapter 1, page 13

 
Points Received:
1 of 1
 
Comments:

 7.
Question :
(TCO 1) When it comes to the financial planning process, the first step is to

 
Student Answer:

 develop financial goals.
 

 implement the financial plan.
 

 evaluate and revise your actions.
 

 analyze your current personal and financial situation.
 

 create a financial plan of action.
 
Instructor Explanation:
Chapter 1, page 3

 
Points Received:
1 of 1
 
Comments:

 8.
Question :
(TCO 1) If a person deposited $5,000 into an account that earns 8% and made no  additional deposits for 10 years, this would involve what type of computation?

 
Student Answer:

 Simple interest
 

 Future value of a single amount
 

 Future value of a series of deposits
 

 Present value of a single amount
 

 Present value of a series of deposits
 
Instructor Explanation:
Chapter 1, page 18

 
Points Received:
1 of 1
 
Comments:

 9.
Question :
(TCO 1) Personal relationships, health, and informal education goals fall into the category  of _____ goals.

 
Student Answer:

 intangible-purchase
 

 short-term
 

 consumable-product
 

 durable-product
 

 intermediate
 
Instructor Explanation:
Chapter 1, page 9

 
Points Received:
1 of 1
 
Comments:

 10.
Question :
(TCO 1) Financial plan success is determined by

 
Student Answer:

 the analysis of how resources are used.
 

 the stage of the adult life cycle.
 

 a person's tax status.
 

 amount of income available.
 

 current economic conditions.
 
Instructor Explanation:
Chapter 1, page 24

 
Points Received:
0 of 1
 
Comments:

 11.
Question :
(TCO 1) You want to determine the current value of an annuity that pays $350 a month  for the next 5 years. What type of calculation would...
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