BUS 2204 - Personal Finance UPDATED ACTUAL Questions and CORRECT Answers
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Course
BUS 2204 - Personal Finance
Institution
BUS 2204 - Personal Finance
BUS 2204 - Personal Finance UPDATED
ACTUAL Questions and CORRECT
Answers
The financial decision making process is complicated by all of the following factors
EXCEPT __________.
a. uncertainty and risk.
b. the number of factors to consider.
c. the use of information in planning.
d. the co...
BUS 2204 - Personal Finance UPDATED
ACTUAL Questions and CORRECT
Answers
The financial decision making process is complicated by all of the following factors
EXCEPT __________.
a. uncertainty and risk.
b. the number of factors to consider.
c. the use of information in planning.
d. the complexity of relationships among factors.
e. the relative importance of consequences. - CORRECT ANSWER✔✔- c. the use of
information in planning.
Your financial planning should reflect the realities of your career choice because your choice
of career affects your __________.
a. health and safety risks.
b. salary and benefits.
c. career duration.
d. b. and c.
e. a., b., and c. - CORRECT ANSWER✔✔- e. a., b., and c.
Your time horizon for financial planning is __________.
a. the time it takes to set goals.
b. the five-year plan.
c. the time it takes to realize goals.
d. life long.
e. approximately 65 years. - CORRECT ANSWER✔✔- d. life long.
,Individual factors may affect all the following financial situations EXCEPT __________.
a. inflation.
b. income.
c. income needs.
d. risk tolerance.
e. wealth. - CORRECT ANSWER✔✔- a. inflation.
Periods of contraction in the economy often lead to __________.
a. reduced returns on investment.
b. an increase in the employment rate.
c. growth in job creation.
d. greater consumption.
e. greater participation in the capital markets. - CORRECT ANSWER✔✔- a. reduced returns
on investment.
An effect of deflation is that your money __________.
a. is worth more and buys more.
b. is worth less and buys less.
c. has less purchasing power.
d. is less useful as a medium of exchange.
e. is more stable. - CORRECT ANSWER✔✔- a. is worth more and buys more.
Because of inflation, the school supplies you bought for $20 last year now cost __________.
a. $19.95.
b. $10.
c. $15.
, d. $30.
e. $12.95. - CORRECT ANSWER✔✔- d. $30.
In financial planning, effective goals are __________.
a. timely.
b. specific and measurable.
c. realistic and attainable.
d. b. and c.
e. a., b., and c. - CORRECT ANSWER✔✔- e. a., b., and c.
Financial advisors may assist through all the following services EXCEPT __________.
a. tax planning.
b. career planning.
c. estate planning.
d. investment planning.
e. business financial planning. - CORRECT ANSWER✔✔- b. career planning.
Characteristics of financial advisors to look for include __________.
a. manner of compensation.
b. ability to give subjective advice.
c. professional training.
d. a. and c.
e. a., b., and c. - CORRECT ANSWER✔✔- d. a. and c.
Dylan earns $24,500 a year as an office worker. He pays $1,000 a month for rent, $300 a
month toward his car, and his other expenses come to around $1,200 a month. Dylan
__________.
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