BUSI 352 Exam 1 Prep Actual Questions With 100% Verified Answers.
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Course
BUSI 352
Institution
BUSI 352
A good financial planning report must include an analysis of all of the following except
a. where you are now
b. where you want to be
c. why you failed previously
d. how to reach your goals - correct answer c
Usual financial planning goals include the fol...
BUSI 352 Exam 1
A good financial planning report must include an analysis of all of the following except
a. where you are now
b. where you want to be
c. why you failed previously
d. how to reach your goals - correct answer c
Usual financial planning goals include the following except
a. retirement funding
b. current lifestyle
c. career planning
d. estate planning - correct answer c
A client's formal financial planning report that summarizes all of the following except
a. strategy- how the client gets where he or she wants
b. turnover- when and how the client will sell certain investments
c. analysis- where the client is now
d. objectives- where the client wants to be - correct answer b
which of the following is true regarding the types of financial problems clients will face in their lives
a. taxes add to the cost of an investment and slow progress toward the client's goals
b. the inability to quickly turn invested capital into spendable cash is related to inflation
c. clients should not be concerned about leaving assets to children or young adults
d. psychological comfort has no place in the financial planning process - correct answer
a
which of the following is true regarding the contents of the financial plan
, a. the length of the presentation of the plan should always be the same regardless of the contents of the
plan
b. once the plan is in place it should not be changed
c. checklists are usually a bad idea in the plan
d. the plan should have a discussion of how to achieve goals - correct answer d
The six steps in the financial management process outlined by the authors include the following except:
a. Establish goals
b. Collect data
c. Measure performance
d. Establish living wills - correct answer d
Which of the following is true regarding risk?
a. Attitudes toward risk are easy to measure
b. defining the nature of risk is objective for each person
c. attitudes about risk are likely ot change over a person's lifetime
d. risk attitudes are due to factors that are relatively easy to deal with - correct answer
c
Which of the statements is true regarding financial objectives?
a. good financial objectives are stated in aspirational terms
b. all financial objectives have a short time horizon
c. after they have been identified they should be prioritized
d. once identified they do not need to be revisited - correct answer c
Which is true regarding developing a financial plan?
a. this involves budgeting income and expenses
b. if a client needs an emergency fund no recommendations are needed
c. estimating returns should not be needed
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