- Study guides, Class notes & Summaries

Tim and Peg has their retirement savings allocated in a variety of financial products with differing tax treatments. Which one of the following would be considered currently taxable? Select one: A. Nonqualified annuity B. Roth IRA C. Traditional IRA D. Money market mutual fund - ANSWER - D. Money market mutual fund Incorrect. A money market mutual fund is very highly secure and liquid investment, but earnings are taxable in the year credited. A Roth IRA is a tax-free funding vehicle. ...

Tom and Annie have been married for two years, and are considering starting a family. They have decided that they should develop a financial plan. The first step in the personal financial planning process is Select one: A. Establishing and prioritizing financial goals. B. Developing a plan. C. Analyzing the current situation. D. Gathering information. - ANSWER - A. Establishing and prioritizing financial goals. Which one of the following statements about unemployment insurance is true? ...

Condominium A real estate development consisting of a group of units in which the air space within the boundaries of each unit is owned by the unit owner and all remaining real and personal property is owned jointly by all unit owners Condominium unit The portion of a condominium owned solely by a unit owner Condominium association An entity composed of the unit owners in a condominium to manage the condominium and to own the common elements Common elements Areas of a condominium that a...

Personal financial planningThe development and implementation of coordinated plans for achieving of one's overall financial objectives. Personal budgetAn advance plan for anticipated expenditures and income; used as a guide to keep a person's or a family's expenditures under control and within available income levels. Cash flow statementAn accounting statement that presents the sources and amounts of cash inflows and outflows over a time period. Disability income exposureAn exposure ...

Definition of personal financial planning The process by which individuals and families develop and implement a comprehensive plan for achieving their financial goals Personal financial planning focuses on allocating resources towards the achievement of financial goals in a systematic manner Personal financial goals are... are established then prioritized PFGs can create conflicts because individuals often have limited resources to meet their goals Personal finance planning is... a c...

Which insurance plan has a gate keeper physician? Health Maintenance Organization HMO Which insurance plan has members choose any provider but preferred providers offer decreased medical services costs and lower deductibles? Preferred Provider Organization. What does a gate keeper physician do? Preapproves specialist visits Which insurance plan works like an HMO but physicians are only paid based on the services they provide? Exclusive Provider organization Which has lower premiums E...

Which one of the following is the main difference between a traditional IRA and a Roth IRA? A. Eligible investment options. B. Dollar amount of allowed contributions. C. Accumulation of investment income. D. Tax treatment of contributions and distributions. D. Tax treatment of contributions and distributions. Roth IRA contributions are always nondeductible, while a traditional IRA has contributions that may be deductible. Distributions from a Roth IRA are tax-free if certain conditions are ...

CPCU 556: Chapter 5 (Developing Personal Lines Underwriting Strategies) Quizzes & Ans

Tom and Annie have been married for two years, and are considering starting a family. They have decided that they should develop a financial plan. The first step in the personal financial planning process is Select one: A. Establishing and prioritizing financial goals. B. Developing a plan. C. Analyzing the current situation. D. Gathering information. - ️️A. Establishing and prioritizing financial goals. Which one of the following statements about unemployment insurance is true? Sel...