Exam (elaborations)
FINA 200 Quiz 1-6 summer feb practice exam (JMSB exams) Concordia University
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- Concordia University ( )
FINA 200 Quiz 1-6 summer feb practice exam (JMSB exams) Concordia University
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FINA 200 Quiz 1-6 summer Feb practice exam (JMSB exams)Concordia University
Chapter 1
Ch. 1 - Learning Objectives 1 & 3
Question 1:
Ramy states his financial goal as paying off his $5,000 credit card debt
within 2 years. This is not a SMART goal. What is missing?
It is not specific
It is not measurable
(1 Point) It has no action
plan It has no time
frame
Ch. 1 - Learning Objective 2
Question 2:
Philip has been working at the Royal Bank for over 30 years. His only
child, living in residence at the University of Waterloo, will benefit froma
generous education fund. Philip is debt-free and hopes to retire in 10
years. What life stage would most appropriately describe his
position? Refer Exhibit 1.2.
(1 Point)
Early earning
Mid earning
Prime earning
Retirement
Question 3:
Developing which component of a financial plan answers the question,
“What debt payments can I make every month?” Refer Exhibit 1.6.
Managing your income
Protecting your assets and income
(1 Point)
(wealth)Investing
Planning your retirement and estate
, Chapter 2
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