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4/18/2014
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Course 171012 - Personal Financial Planning for Accountants
  Final Exam
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Correct Answers 0
Total Questions 100
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1.   Family financial goals should be (Chapter 1 )



2.   Financial planning can help us to (Chapter 1 )




3.   Financial goals need NOT be (Chapter 1 )




4.   The first step in the financial planning process is to (Chapter 1 )




5.   Personal financial planning processes may include all except (Chapter 1 )




6.   Which of the following statements is FALSE about financial goals? (Chapter 1 )




7.   An unemployment rate of 8 percent would be indicative of (Chapter 1 )




8.   Inflation refers to (Chapter 1 )




9.   As the rate of inflation increases, (Chapter 1 )




10.   Effects of lowering the discount rate by the Federal Reserve can stimulate all except (Chapter 1 )




11.   Financial planning for people over sixty should NOT include (Chapter 1 )





12.   The least important financial planning for single-adult concerns (Chapter 1 )




13.   Martha is 80 years old. She is most likely concerned with (Chapter 1 )




14.   You should consider the time value of money as an opportunity cost when you do the following except (Chapter 2 )




15.   Future value tables are used to determine (Chapter 2 )




16.   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? (Chapter 2 )




17.   ___________________ is a rule of thumb to figure out how long it takes you to double your investment money. (Chapter 2 )




18.   The balance sheet describes a family's wealth (Chapter 3 )




19.   The three parts of your balance sheet are (Chapter 3 )




20.   Which of the flowing is TURE? (Chapter 3 )




21.   _______________________ is NOT a deferred asset. (Chapter 3 )




22.   An abbreviated personal balance sheet would NOT include (Chapter 3 )




23.   Liabilities do NOT include (Chapter 3 )




24.   A budget is a (Chapter 3 )




25.   The main purpose of a budget is to (Chapter 3 )




26.   _______________________ is NOT an important occupational motivator. (Chapter 4 )



27.   Employee benefits may NOT include (Chapter 4 )




28.   The cost savings of working at home do NOT include (Chapter 4 )




29.   _________________________ is NOT a website for job hunting. (Chapter 4 )




30.   __________________ may NOY be an example of college-related costs. (Chapter 4 )




31.   Your child wants to go to college for the next 4 years. The annual cost is $6,000 and will in­crease at the rate of 8 percent per year. What is the cost of the education? (Chapter 5 )




32.   Top strategies to maximize aid eligibility do NOT include (Chapter 5 )




33.   To qualify for a Stafford loan, you must (Chapter 5 )




34.   ______________________ is a non-needed-basis loan. (Chapter 5 )




35.   ____________ loans do NOT have to be repaid until after you graduate from college. (Chapter 5 )




36.   Federal government programs do NOT include: (Chapter 5 )





37.   Holding Period Return (HPR) is (Chapter 6 )




38.   . To be successful as an investor, you need an understanding of (Chapter 6 )




39.   The returns you would expect from your investments could be (Chapter 6 )




40.   In deciding your risk tolerance you should NOT consider (Chapter 6 )




41.   The investment vehicle with the highest risk and highest rate of return is (Chapter 6 )




42.   Security investors incur varying degrees of risk. Business risk is related to (Chapter 6 )




43.   Companies with a great deal of long-term debt would rate fairly high in ____________ risk. (Chapter 6 )




44.   Risk and return are ___________ related. (Chapter 6 )




45.   Beta is a security’s volatility compared to an average security. A beta reading of zero (0) means (Chapter 6 )




46.   Which of the following statements is NOT true about check writing? (Chapter 7 )




47.   Which of the following statements is NOT true about a home equity line of credit? (Chapter 7 )




48.   Commercial banks are insured by the (Chapter 7 )




49.   The Emergency Economic Stabilization Act of 2008 increased the insurance coverage on all accounts up to ______________ until December 31, 2009. (Chapter 7 )




50.   Banking regulators include all except (Chapter 7 )




51.   Banking tools (services) do NOT include (Chapter 7 )



52.   Fair Credit Reporting affects your credit by releasing all the information except (Chapter 8 )




53.   The elements of credit do NOT include (Chapter 8 )




54.   A FICO Score or credit score that is computer generated and predicts a lenders risk, includes some of the following factors except for (Chapter 8 )




55.   Most of the information in your credit file may be reported for only ______ years. (Chapter 8 )




56.   If you have a problem with your creditor, the best solution is to (Chapter 8 )




57.   A good rule of thumb is to limit consumer debt payments to (Chapter 8 )




58.   Your debt/equity ratio (Chapter 8 )




59.   VantageScore, a new credit scoring model, was launched in 2005 by (Chapter 8 )




60.   The 2005 new bankruptcy law (Chapter 8 )




61.   One of the ways to reduce automotive expenses is to buy a small hybrid car, since it (Chapter 9 )





62.   In leasing rules there are four basic components that are negotiable, except (Chapter 9 )




63.   _________ is NOT an advantage of owning your own home. (Chapter 10 )




64.   Closing costs do NOT include (Chapter 10 )




65.   Which of the following is false about an adjustable rate mortgage (ARM)? (Chapter 10 )




66.   _____________________ is NOT one of the most common risks a consumer must address. (Chapter 11 )




67.   The features of term insurance can include all except (Chapter 11 )




68.   Aspects of whole-life insurance do not include (Chapter 11 )




69.   _______________________________ is NOT professional designation that life insurance agents may earn. (Chapter 11 )




70.   A ratings guide to the financial stability of the nation's insurers is published by (Chapter 11 )




71.   The fastest growing segment of the health care industry is (Chapter 11 )




72.   When you have to file a homeowner’s claim you should NOT (Chapter 11 )




73.   A HO-1 policy covers damage from property damage perils except (Chapter 11 )




74.   _________________ is another insurance credit scoring company along with FICO. (Chapter 11 )




75.   Before getting started as an investor you should do all of the following except (Chapter 12 )




76.   Sources of financing your investment choices do NOT include (Chapter 12 )



77.   An asset that is considered both highly marketable and highly liquid is (Chapter 12 )




78.   Buying on margin is buying (Chapter 12 )




79.   _________ is NOT an investment at risk with changing interest rates (Chapter 12 )




80.   Investments NOT vulnerable to a changing economy are (Chapter 12 )




81.   Corporate ownership is evidenced by (Chapter 13 )




82.   Types of stock can NOT include (Chapter 13 )




83.   ___________ is NOT the type of orders you may place for stock transactions (Chapter 13 )




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 (Chapter 13 )




85.   If you invested $80 in a stock which you sold 3 months later for $100 and a $2 dividend was received, then the quarterly return is ________. (Chapter 13 )




86.   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? (Chapter 13 )





87.   Price-earnings ratio is NOT affected by (Chapter 13 )




88.   ____________________ is NOT a rule of thumb used for stock valuation. (Chapter 13 )




89.   . Market risk is often measured using (Chapter 13 )




90.   Good monetary indicators include (Chapter 13 )




91.   Examples of fixed income securities do NOT include (Chapter 14 )




92.   Bonds have the following advantages except for (Chapter 14 )




93.   Types of bonds do NOT include (Chapter 14 )




94.   ________ is NOT one of basic factors to consider in selecting a bond (Chapter 14 )




95.   If a bond is purchased at a price above the face value, the yield to maturity is (Chapter 14 )




96.   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 (Chapter 14 )




97.   Preferred stock, like a corporate bond, have the following features except that (Chapter 14 )




98.   Other fixed income securities, often called short-term parking lots, include (Chapter 14 )




99.   Which of the following statements is FALSE about real estate investing? (Chapter 15 )




100.   Limited partnerships have the following disadvantages except for (Chapter 15 )







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