Exam (elaborations)
CFP Practice Questions – Fundamentals questions with correct answers
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As a rule of thumb, it is best if consumer debt does not exceed: A. 20% of net income. B. 20% of gross income. C. 3 to 6 months of expenses. D. 36% of gross monthly income. CORRECT ANSWER A. 20% of net income This is a rule of thumb, along with the others that recommend housing debt be lim...
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